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      Current Report
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      STATES</strong></font></div>
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      AND EXCHANGE COMMISSION</strong></font></div>
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      DC 20549</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 16pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><strong>CURRENT
      REPORT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Date
      of Report (Date of earliest event reported): October 19, 2005</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman"><strong>Callisto
      Pharmaceuticals, Inc.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(Exact
      name of registrant as specified in its charter)</font></div>
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            </td>
            <td align="left" valign="top" width="34%" style="BORDER-BOTTOM: medium none">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">001-32325
                </font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(State
                or other jurisdiction of</font></div>
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                or organization)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(Commission
                <font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">File
                Number)</font></font></div>
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            <td align="left" valign="top" width="33%" style="BORDER-BOTTOM: medium none">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(IRS
                Employer <font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Identification
                No.)</font></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">420
                Lexington Avenue, Suite 1609</font></div>
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                York, New York&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                10170</font></div>
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                of principal executive offices)</font></div>
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      telephone number, including area code: (212) 297-0010</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(Former
      name or former address, if changed since last report)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Check
      the appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Written
                communication pursuant to Rule 425 under the Securities Act (17 CFR
                230.425)</font></div>
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            <td align="left" valign="top" width="91%" style="BORDER-BOTTOM: medium none">
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                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)</font></div>
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            <td align="left" valign="top" width="3%" style="BORDER-BOTTOM: medium none">
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></font></div>
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            <td align="left" valign="top" width="91%" style="BORDER-BOTTOM: medium none">
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                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))</font></div>
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            <td width="6%">&#160;</td>
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            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="3%" style="BORDER-BOTTOM: medium none">
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></font></div>
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                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))</font></div>
            </td>
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    <div>&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><strong><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Item
        1.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Entry
        into a Material Definitive Agreement.</font></strong></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">On
        October 19, 2005, Callisto Pharmaceuticals, Inc., a Delaware corporation
        (the
&#8220;Company&#8221;) amended the employment agreements of each of Gary Jacob, the
        Company&#8217;s Chief Executive Officer, Donald Picker, the Company&#8217;s Executive Vice
        President, Research and Development, Pamela Harris, the Company&#8217;s Chief Medical
        Officer and Bernard Denoyer, the Company&#8217;s Vice President, Finance to increase
        the amount of severance each person would be paid upon termination by the
        Company from 30 days of base salary to 90 days of base salary. In addition,
        the
        same amendment was made to the employment agreement between Synergy
        Pharmaceuticals Inc., a wholly-owned subsidiary of the Company (&#8220;Synergy&#8221;), and
        Kunwar Shailubhai, Synergy&#8217;s Senior Vice President, Drug Discovery.
</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><strong>Item
        5.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Departure
        of Directors or Principal Officers; Election of Directors; Appointment of
        Principal Officers.</font></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left">On
        October 20, 2005, Mr. Edwin Snape did not stand for re-election as
        a director of the Company and was not re-elected as a director of the Company
        at
        the Company's 2005 Annual Meeting.</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><strong>Item
        9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial
        Statements and
        Exhibits.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
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                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(c)</font></div>
                </td>
                <td align="left" colspan="2" valign="top" width="92%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Exhibits.</font></div>
                </td>
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                <td align="left" valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td align="left" valign="top" width="87%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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                <td width="5%" style="BORDER-BOTTOM: medium none"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td width="3%" style="BORDER-BOTTOM: medium none"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td align="left" valign="top" width="5%" style="BORDER-BOTTOM: medium none">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">10.1</font></div>
                </td>
                <td align="left" valign="top" width="87%" style="BORDER-BOTTOM: medium none">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Amendment
                          dated October 19, 2005 to the Employment Agreement dated
                          as of June 13,
                          2003 by and between Callisto Pharmaceuticals, Inc. and
                          Gary S.
                          Jacob.</font></div>
                      </div>
                    </div>
                  </div>
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      has
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      duly authorized.</font></div>
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      2005</font></div>
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            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">CALLISTO
              PHARMACEUTICALS, INC.</font></td>
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              Gary S. Jacob </font></td>
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Current Report
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
Washington,
      DC 20549
FORM
      8-K
CURRENT
      REPORT
Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
      of Report (Date of earliest event reported): October 19, 2005
Callisto
      Pharmaceuticals, Inc.
(Exact
      name of registrant as specified in its charter)
Delaware
001-32325
13-3894575
(State
                or other jurisdiction of
incorporation
                or organization)
(Commission
File
                Number)
(IRS
                Employer
Identification
                No.)
420
                Lexington Avenue, Suite 1609
New
                York, New York         
                10170
(Address
                of principal executive offices)
Registrant's
      telephone number, including area code: (212) 297-0010
(Former
      name or former address, if changed since last report)
Check
      the appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:
o
Written
                communication pursuant to Rule 425 under the Securities Act (17 CFR
                230.425)
o
Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)
o
Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))
o
Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))
Item
        1.01
Entry
        into a Material Definitive Agreement.
On
        October 19, 2005, Callisto Pharmaceuticals, Inc., a Delaware corporation
        (the
"Company") amended the employment agreements of each of Gary Jacob, the
        Company's Chief Executive Officer, Donald Picker, the Company's Executive Vice
        President, Research and Development, Pamela Harris, the Company's Chief Medical
        Officer and Bernard Denoyer, the Company's Vice President, Finance to increase
        the amount of severance each person would be paid upon termination by the
        Company from 30 days of base salary to 90 days of base salary. In addition,
        the
        same amendment was made to the employment agreement between Synergy
        Pharmaceuticals Inc., a wholly-owned subsidiary of the Company ("Synergy"), and
        Kunwar Shailubhai, Synergy's Senior Vice President, Drug Discovery.
Item
        5.02
Departure
        of Directors or Principal Officers; Election of Directors; Appointment of
        Principal Officers.
On
        October 20, 2005, Mr. Edwin Snape did not stand for re-election as
        a director of the Company and was not re-elected as a director of the Company
        at
        the Company's 2005 Annual Meeting.
Item
        9.01        Financial
        Statements and
        Exhibits.
(c)
Exhibits.
10.1
Amendment
                          dated October 19, 2005 to the Employment Agreement dated
                          as of June 13,
                          2003 by and between Callisto Pharmaceuticals, Inc. and
                          Gary S.
                          Jacob.
10.2
Amendment
                      dated October 19, 2005 to the Employment Agreement dated as
                      of September
                      23, 2003, as amended April 6, 2004 by and between Callisto
                      Pharmaceuticals, Inc. and Donald H. Picker.
10.3
Amendment
                    dated October 19, 2005 to the Employment Agreement dated as of
                    March 28,
                    2005 by and between Callisto Pharmaceuticals, Inc. and Pamela
                    Harris.
10.4
Amendment
                    dated October 19, 2005 to the Employment Agreement dated as of
                    January 15,
                    2004 by and between Callisto Pharmaceuticals, Inc. and Bernard
                    Denoyer.
10.5
Amendment
                    dated October 19, 2005 to the Employment Agreement dated as of
                    April 6,
                    2004 by and between Synergy Pharmaceuticals Inc. and Kunwar
                    Shailubhai.
2
SIGNATURE
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
Dated: 
      October 21
,
      2005
CALLISTO
              PHARMACEUTICALS, INC.
By:
/s/
              Gary S. Jacob
Gary
                S. Jacob, Ph.D.
Chief
                Executive Officer
3