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      STATES </strong></font></div>
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      AND EXCHANGE COMMISSION </strong></font></div>
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      D.C. 20549 </strong></font></div>
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      8-K</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18.5pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT </strong></font></div>
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      to Section&#160;13 or 15(d) of the </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18.5pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Securities
      Exchange Act of 1934 </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: 18.5pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      Report (Date of Earliest Event Reported): </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>June
      29, 2006</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18.5pt" align="center"><br></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: 18.5pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>DOV
      </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>PHARMACEUTICAL,
      INC.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18.5pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      Name of Registrant as Specified in Charter) </font></div>
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                </strong></font></div>
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                </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"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 12.15pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>150
      Pierce Street, Somerset, NJ 08873</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 12.15pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 12.15pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 12.15pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 12.15pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant's
      Telephone Number, including Area Code: </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>(732)
      907-3600</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 12.15pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 12.15pt" align="center"><br></div>
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      Applicable </u></font></div>
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      Name or Former Address, if Changed Since Last Report) </font></div>
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      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of 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: 10pt; FONT-FAMILY: Times New Roman">&#4064;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 45.7pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
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      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 12.15pt" align="left"><br></div>
    <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: 10pt; FONT-FAMILY: Times New Roman">&#4064;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 45.7pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
      </font></div>
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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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    <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: 10pt; FONT-FAMILY: Times New Roman">&#4064;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 45.7pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240-13e-4(c)) </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
              1.01.</strong></font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ENTRY
                INTO A MATERIAL DEFINITIVE
                AGREEMENT</strong></font></div>
            </td>
          </tr>

      </table>
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    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
              1.02.</strong></font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>TERMINATION
                OF A MATERIAL DEFINITIVE
                AGREEMENT</strong></font></div>
            </td>
          </tr>

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      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
              5.02.</strong></font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>DEPARTURE
                OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT
                OF
                PRINCIPAL OFFICERS</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
              8.01.</strong></font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>OTHER
                EVENTS</strong></font></div>
            </td>
          </tr>

      </table>
    </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="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      July
      5, 2006, DOV Pharmaceutical, Inc. (the &#8220;Company&#8221;) announced the reorganization
      of its senior management team. A copy of the press release issued in connection
      with such announcement (the &#8220;Press Release&#8221;) is attached hereto as Exhibit 99.1
      and incorporated herein by reference. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <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: 10pt; FONT-FAMILY: Times New Roman">In
      connection with the Company&#8217;s reorganization, on June 29, 2006, Dr. Leslie
      Hudson resigned from his positions as Chief Executive Officer and President
      and
      as a member of the Company&#8217;s Board of Directors. Dr. Hudson and the Company have
      entered into a Separation and General Release Agreement, dated as of June 29,
      2006, pursuant to which the Company will make severance payments to Dr. Hudson
      in an aggregate amount equal to 24 months of basic compensation. Additionally,
      the Company has agreed to remove any restrictions on the 100,000 shares of
      restricted stock granted to Dr. Hudson in connection with the commencement
      of
      his employment and such shares are now fully-owned by Dr. Hudson. In addition,
      options to purchase 275,000 shares of the Company&#8217;s common stock that were
      granted to Dr. Hudson during his employment period were terminated and returned
      to the Company&#8217;s options available for grant under the Company&#8217;s stock option
      plan. The Separation and General Release Agreement is attached hereto as Exhibit
      99.2.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <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: 10pt; FONT-FAMILY: Times New Roman">The
      resignation of Dr. Hudson and the execution by Dr. Hudson and the Company of
      the
      Separation and General Release Agreement has resulted in the termination on
      June
      29, 2006 of Dr. Hudson&#8217;s Employment Agreement with the Company. A description of
      the material terms of such Employment Agreement can be found in the Company&#8217;s
      Annual Report on Form 10-K for the fiscal year ending December 31, 2005 filed
      with the Securities and Exchange Commission on March 15, 2006. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <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: 10pt; FONT-FAMILY: Times New Roman">The
      Company also announced in the Press Release that Dr. Arnold Lippa will serve
      as
      Executive Chairman of the Board. Dr. Lippa, 59, is a co-founder of the Company
      and previously served as the Company&#8217;s Chairman of the Board and Chief Executive
      Officer. The Company and Dr. Lippa remain party to an Amended and Restated
      Employment Agreement, dated as of May 23, 2005, which agreement is listed as
      an
      exhibit to the Company&#8217;s Annual Report on Form 10-K for the year-ended December
      31, 2005 (and incorporated by reference therein). Dr. Lippa did not receive
      additional compensation in connection with his appointment as Executive
      Chairman, nor was his existing agreement with the Company amended. Additionally,
      Ms. Barbara Duncan has been promoted to President, will continue as Chief
      Financial Officer of the Company and will serve as a member of the Company&#8217;s
      Board of Directors. Ms. Duncan, 41, joined the Company in August 2001 and has
      served as the Company&#8217;s Senior Vice President, Finance and Chief Financial
      Officer and Treasurer. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <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: 10pt; FONT-FAMILY: Times New Roman">Ms.
      Duncan will serve as a Class I Director and will fill the vacancy created by
      the
      expiration in May 2006 of a former director&#8217;s term as a member of the Board of
      Directors. The Board has not yet determined the committees (if any) on which
      Ms.
      Duncan will serve. Furthermore, there is no arrangement pursuant to which Ms.
      Duncan was elected as a member of the Board of Directors and there are no
      related party transactions relating to the Company and Ms. Duncan that are
      reportable pursuant to Item 5.02 of this Form 8-K. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <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: 10pt; FONT-FAMILY: Times New Roman">In
      connection with Ms. Duncan&#8217;s promotion, the Company and Ms. Duncan have entered
      into Amendment No. 1 (the &#8220;Duncan Amendment&#8221;), dated as of June 30, 2006, to Ms.
      Duncan&#8217;s Employment Agreement, which was originally dated as of August 3, 2004.
      The Duncan Amendment provides for Ms. Duncan&#8217;s service to the Company as
      President and Chief Financial Officer until June 30, 2008. In connection with
      the execution of the Duncan Amendment, Ms. Duncan was granted options to
      purchase 350,000 shares of the Company&#8217;s common stock at an exercise price of
      $2.12 per share (the closing price on the grant date of June 30, 2006) that
      will
      vest ratably annually over four years. Such options, to the extent not vested,
      shall vest immediately upon a termination of Ms. Duncan&#8217;s employment by the
      Company without cause or a termination of employment by Ms. Duncan for good
      reason or within 6 months of certain events constituting a change of control
      of
      the Company. Additionally, in the event of a termination of Ms. Duncan&#8217;s
      employment by the Company without cause or a termination of employment by Ms.
      Duncan for good reason or within 6 months of certain events constituting a
      change of control of the Company, Ms. Duncan will be entitled to severance
      payments equal to the greater of (i) basic compensation for the period
      commencing on the date of such termination and ending June 30, 2008 and (ii)
      basic compensation for the period commencing on the date of such termination
      and
      ending on the date that is 12 months thereafter. The Duncan Amendment also
      provides that Ms. Duncan will resign as a member of the Company&#8217;s Board of
      Directors in the event Ms. Duncan&#8217;s employment with the Company is terminated
      for any reason. Ms. Duncan&#8217;s annual basic compensation was not altered by the
      Duncan Amendment and will remain at $344,000 for 2006. The Duncan Amendment
      is
      attached hereto as Exhibit 99.3.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
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      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </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"><br></div>
    <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: 10pt; FONT-FAMILY: Times New Roman">The
      Company also announced in the Press Release that Dr. Phil Skolnick has been
      promoted to Executive Vice President and will continue to serve as Chief
      Scientific Officer of the Company. Dr. Skolnick, 59, joined the Company in
      January 2001 and has served as the Company&#8217;s Senior Vice President, Research and
      Chief Scientific Officer. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <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: 10pt; FONT-FAMILY: Times New Roman">In
      connection with Dr. Skolnick&#8217;s promotion, the Company and Dr. Skolnick have
      entered into Amendment No. 1 (the &#8220;Skolnick Amendment&#8221;), dated as of June 30,
      2006, to Dr. Skolnick&#8217;s Restated Employment Agreement, which was originally
      dated as of January 9, 2004. The Skolnick Amendment provides for Dr. Skolnick&#8217;s
      service to the Company as Executive Vice President and Chief Scientific Officer
      until June 30, 2008. In connection with the execution of the Skolnick Amendment,
      Dr. Skolnick was granted options to purchase 350,000 shares of the Company&#8217;s
      common stock at an exercise price of $2.12 per share (the closing price on
      the
      grant date of June 30, 2006) that will vest ratably annually over four years.
      Such options, to the extent not vested, shall vest immediately upon a
      termination of Dr. Skolnick&#8217;s employment by the Company without cause or a
      termination of employment by Dr. Skolnick for good reason or within 6 months
      of
      certain events constituting a change of control of the Company. Additionally,
      in
      the event of a termination of Dr. Skolnick&#8217;s employment by the Company without
      cause or a termination of employment by Dr. Skolnick for good reason or within
      6
      months of certain events constituting a change of control of the Company, Dr.
      Skolnick will be entitled to severance payments equal to the greater of (i)
      basic compensation for the period commencing on the date of such termination
      and
      ending June 30, 2008 and (ii) basic compensation for the period commencing
      on
      the date of such termination and ending on the date that is 12 months
      thereafter. Dr. Skolnick&#8217;s annual basic compensation was not altered by the
      Skolnick Amendment and will remain at $344,000 for 2006. The Skolnick Amendment
      is attached hereto as Exhibit 99.4.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <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: 10pt; FONT-FAMILY: Times New Roman">Finally,
      the Company and Dr. Warren Stern have executed Amendment No. 1 (the &#8220;Stern
      Amendment&#8221;), dated as of June 30, 2006, to Dr. Stern&#8217;s Employment Agreement,
      which was originally dated as of September 10, 2003. The Stern Amendment
      provides for an extension of the term of Dr. Stern&#8217;s service to the Company as
      Senior Vice President of Drug Development from September 10, 2006 until March
      31, 2007; provided, however, that the hours of service provided by Dr. Stern
      to
      the Company and Dr. Stern&#8217;s basic compensation will be reduced by (i) 30% from
      October 1, 2006 until January 1, 2007 and (ii) 50% from January 1, 2007 until
      March 31, 2007. In connection with the execution of the Stern Amendment, Dr.
      Stern was granted options to purchase 75,000 shares of the Company&#8217;s common
      stock at an exercise price of $2.12 per share (the closing price on the grant
      date of June 30, 2006) that will vest in full on March 31, 2007. Such options,
      to the extent not vested, shall vest immediately upon a termination of Dr.
      Stern&#8217;s employment by the Company without cause or a termination of employment
      by Dr. Stern for good reason or within 6 months of certain events constituting
      a
      change of control of the Company. Additionally, the Stern Amendment provides
      that Dr. Stern shall be paid on October 1, 2006 for all accrued and unused
      vacation accumulated by Dr. Stern prior to such date and Dr. Stern shall be
      entitled to three weeks of paid vacation during the period between October
      1,
      2006 and March 31, 2007. The Company has also agreed pursuant to the Stern
      Amendment to reimburse Dr. Stern for travel or other expenses relating to Dr.
      Stern&#8217;s commute to the Company&#8217;s Somerset offices and local lodging in Somerset,
      New Jersey provided that such expenses shall in no event exceed $370 every
      10
      business days. The Stern Amendment is attached hereto as Exhibit 99.5.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
              9.01.</strong></font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBITS.</strong></font></div>
            </td>
          </tr>

      </table>
    </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: 12.15pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)
      Exhibits. The following exhibits are filed with this Current Report on Form
      8-K.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="15%" 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: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Exhibit
                No.</u></strong></font></div>
            </td>
            <td align="left" valign="top" width="65%" style="border-bottom: medium none;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Title</u></strong></font></div>
            </td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td valign="top" width="15%">
              <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: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
            </td>
            <td align="left" valign="top" width="65%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                Release, dated July 5, 2006, of DOV Pharmaceutical,
                Inc.</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td valign="top" width="15%">
              <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: 10pt; FONT-FAMILY: Times New Roman">99.2</font></div>
            </td>
            <td align="left" valign="top" width="65%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Separation
                and General Release Agreement, dated as of June 29, 2006, by and
                between
                Dr. Leslie Hudson and DOV Pharmaceutical, Inc.</font></div>
            </td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td valign="top" width="15%">
              <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: 10pt; FONT-FAMILY: Times New Roman">99.3</font></div>
            </td>
            <td align="left" valign="top" width="65%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amendment
                No. 1 to Employment Agreement, dated as of June 30, 2006, by and
                between
                Ms. Barbara Duncan and DOV Pharmaceutical, Inc.</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td valign="top" width="15%">
              <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: 10pt; FONT-FAMILY: Times New Roman">99.4</font></div>
            </td>
            <td align="left" valign="top" width="65%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amendment
                No. 1 to Restated Employment Agreement, dated as of June 30, 2006,
                by and
                between Dr. Phil Skolnick and DOV Pharmaceutical, Inc.</font></div>
            </td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td valign="top" width="15%">
              <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: 10pt; FONT-FAMILY: Times New Roman">99.5</font></div>
            </td>
            <td align="left" valign="top" width="65%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amendment
                No. 1 to Employment Agreement, dated as of June 30, 2006, by and
                between
                Dr. Warren Stern and DOV Pharmaceutical,
                Inc.</font></div>
            </td>
          </tr>

      </table>
    </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="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </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="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: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</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: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, registrant has
      duly
      caused this report to be signed on its behalf by the undersigned thereunto
      duly
      authorized. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      <table border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="4%">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="15%">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="30%">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="47%">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="4%">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="top" width="15%">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="bottom" width="30%">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" colspan="3" valign="top" width="50%">
              <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: 10pt; FONT-FAMILY: Times New Roman"><strong>DOV
                Pharmaceutical, Inc.</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="4%">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="middle" width="15%">&#160;</td>
            <td align="left" valign="middle" width="30%">&#160;</td>
            <td align="left" valign="middle" width="2%">&#160;</td>
            <td align="left" valign="middle" width="1%">&#160;</td>
            <td align="left" valign="middle" width="47%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="4%" style="border-bottom: medium none;">
              <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: 10pt; FONT-FAMILY: Times New Roman">Date:
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="border-bottom: medium none;">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="top" width="15%" style="border-bottom: medium none;">
              <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: 10pt; FONT-FAMILY: Times New Roman">July
                6, 2006</font></div>
            </td>
            <td align="left" valign="bottom" width="30%" style="border-bottom: medium none;">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="top" width="2%" style="border-bottom: medium none;">
              <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: 10pt; FONT-FAMILY: Times New Roman">By:
                </font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="border-bottom: medium none;">
              <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: 10pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
            </td>
            <td align="left" valign="top" width="47%" style="border-bottom: medium none;">
              <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: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                Barbara Duncan</u></font></div>
              <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: 10pt; FONT-FAMILY: Times New Roman">Barbara
                Duncan</font></div>
              <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: 10pt; FONT-FAMILY: Times New Roman">President
                and Chief Financial Officer</font></div>
            </td>
          </tr>

      </table>
    </div>
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      INDEX</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>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="15%" 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: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Exhibit
                No.</u></strong></font></div>
            </td>
            <td align="left" valign="top" width="65%" style="border-bottom: medium none;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Title</u></strong></font></div>
            </td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td valign="top" width="15%">
              <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: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
            </td>
            <td align="left" valign="top" width="65%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                Release, dated July 5, 2006, of DOV Pharmaceutical,
                Inc.</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td valign="top" width="15%">
              <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: 10pt; FONT-FAMILY: Times New Roman">99.2</font></div>
            </td>
            <td align="left" valign="top" width="65%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Separation
                and General Release Agreement, dated as of June 29, 2006, by and
                between
                Dr. Leslie Hudson and DOV Pharmaceutical, Inc.</font></div>
            </td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td valign="top" width="15%">
              <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: 10pt; FONT-FAMILY: Times New Roman">99.3</font></div>
            </td>
            <td align="left" valign="top" width="65%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amendment
                No. 1 to Employment Agreement, dated as of June 30, 2006, by and
                between
                Ms. Barbara Duncan and DOV Pharmaceutical, Inc.</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td valign="top" width="15%">
              <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: 10pt; FONT-FAMILY: Times New Roman">99.4</font></div>
            </td>
            <td align="left" valign="top" width="65%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amendment
                No. 1 to Restated Employment Agreement, dated as of June 30, 2006,
                by and
                between Dr. Phil Skolnick and DOV Pharmaceutical, Inc.</font></div>
            </td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td valign="top" width="15%">
              <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: 10pt; FONT-FAMILY: Times New Roman">99.5</font></div>
            </td>
            <td align="left" valign="top" width="65%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amendment
                No. 1 to Employment Agreement, dated as of June 30, 2006, by and
                between
                Dr. Warren Stern and DOV Pharmaceutical,
                Inc.</font></div>
            </td>
          </tr>

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{"company-data": {"conformed-name": "DOV PHARMACEUTICAL INC", "cik": "0001066833", "assigned-sic": "2834", "irs-number": "223374365", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-49730", "film-number": "06948561"}, "business-address": {"street1": "433 HACKENSACK AVENUE", "city": "HACKENSACK", "state": "NJ", "zip": "07601", "phone": "2019680980"}, "mail-address": {"street1": "433 HACKENSACK AVENUE", "city": "HACKENSACK", "state": "NJ", "zip": "07601"}}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
      D.C. 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):
June
      29, 2006
DOV
PHARMACEUTICAL,
      INC.
(Exact
      Name of Registrant as Specified in Charter)
Delaware
(State
                or Other Jurisdiction of Incorporation)
000-49730
(Commission
                File No.)
22-3374365
(IRS
                Employer Identification No.)
150
      Pierce Street, Somerset, NJ 08873
(Address
      of Principal Executive Offices) (Zip Code)
Registrant's
      Telephone Number, including Area Code:
(732)
      907-3600
Not
      Applicable
(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 registrant under any of the following
      provisions:
࿠
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
࿠
Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
࿠
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240-14d-2(b))
࿠
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
ITEM
              1.02.
TERMINATION
                OF A MATERIAL DEFINITIVE
                AGREEMENT
ITEM
              5.02.
DEPARTURE
                OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT
                OF
                PRINCIPAL OFFICERS
ITEM
              8.01.
OTHER
                EVENTS
On
      July
      5, 2006, DOV Pharmaceutical, Inc. (the "Company") announced the reorganization
      of its senior management team. A copy of the press release issued in connection
      with such announcement (the "Press Release") is attached hereto as Exhibit 99.1
      and incorporated herein by reference.
In
      connection with the Company's reorganization, on June 29, 2006, Dr. Leslie
      Hudson resigned from his positions as Chief Executive Officer and President
      and
      as a member of the Company's Board of Directors. Dr. Hudson and the Company have
      entered into a Separation and General Release Agreement, dated as of June 29,
      2006, pursuant to which the Company will make severance payments to Dr. Hudson
      in an aggregate amount equal to 24 months of basic compensation. Additionally,
      the Company has agreed to remove any restrictions on the 100,000 shares of
      restricted stock granted to Dr. Hudson in connection with the commencement
      of
      his employment and such shares are now fully-owned by Dr. Hudson. In addition,
      options to purchase 275,000 shares of the Company's common stock that were
      granted to Dr. Hudson during his employment period were terminated and returned
      to the Company's options available for grant under the Company's stock option
      plan. The Separation and General Release Agreement is attached hereto as Exhibit
      99.2.
The
      resignation of Dr. Hudson and the execution by Dr. Hudson and the Company of
      the
      Separation and General Release Agreement has resulted in the termination on
      June
      29, 2006 of Dr. Hudson's Employment Agreement with the Company. A description of
      the material terms of such Employment Agreement can be found in the Company's
      Annual Report on Form 10-K for the fiscal year ending December 31, 2005 filed
      with the Securities and Exchange Commission on March 15, 2006.
The
      Company also announced in the Press Release that Dr. Arnold Lippa will serve
      as
      Executive Chairman of the Board. Dr. Lippa, 59, is a co-founder of the Company
      and previously served as the Company's Chairman of the Board and Chief Executive
      Officer. The Company and Dr. Lippa remain party to an Amended and Restated
      Employment Agreement, dated as of May 23, 2005, which agreement is listed as
      an
      exhibit to the Company's Annual Report on Form 10-K for the year-ended December
      31, 2005 (and incorporated by reference therein). Dr. Lippa did not receive
      additional compensation in connection with his appointment as Executive
      Chairman, nor was his existing agreement with the Company amended. Additionally,
      Ms. Barbara Duncan has been promoted to President, will continue as Chief
      Financial Officer of the Company and will serve as a member of the Company's
      Board of Directors. Ms. Duncan, 41, joined the Company in August 2001 and has
      served as the Company's Senior Vice President, Finance and Chief Financial
      Officer and Treasurer.
Ms.
      Duncan will serve as a Class I Director and will fill the vacancy created by
      the
      expiration in May 2006 of a former director's term as a member of the Board of
      Directors. The Board has not yet determined the committees (if any) on which
      Ms.
      Duncan will serve. Furthermore, there is no arrangement pursuant to which Ms.
      Duncan was elected as a member of the Board of Directors and there are no
      related party transactions relating to the Company and Ms. Duncan that are
      reportable pursuant to Item 5.02 of this Form 8-K.
In
      connection with Ms. Duncan's promotion, the Company and Ms. Duncan have entered
      into Amendment No. 1 (the "Duncan Amendment"), dated as of June 30, 2006, to Ms.
      Duncan's Employment Agreement, which was originally dated as of August 3, 2004.
      The Duncan Amendment provides for Ms. Duncan's service to the Company as
      President and Chief Financial Officer until June 30, 2008. In connection with
      the execution of the Duncan Amendment, Ms. Duncan was granted options to
      purchase 350,000 shares of the Company's common stock at an exercise price of
      $2.12 per share (the closing price on the grant date of June 30, 2006) that
      will
      vest ratably annually over four years. Such options, to the extent not vested,
      shall vest immediately upon a termination of Ms. Duncan's employment by the
      Company without cause or a termination of employment by Ms. Duncan for good
      reason or within 6 months of certain events constituting a change of control
      of
      the Company. Additionally, in the event of a termination of Ms. Duncan's
      employment by the Company without cause or a termination of employment by Ms.
      Duncan for good reason or within 6 months of certain events constituting a
      change of control of the Company, Ms. Duncan will be entitled to severance
      payments equal to the greater of (i) basic compensation for the period
      commencing on the date of such termination and ending June 30, 2008 and (ii)
      basic compensation for the period commencing on the date of such termination
      and
      ending on the date that is 12 months thereafter. The Duncan Amendment also
      provides that Ms. Duncan will resign as a member of the Company's Board of
      Directors in the event Ms. Duncan's employment with the Company is terminated
      for any reason. Ms. Duncan's annual basic compensation was not altered by the
      Duncan Amendment and will remain at $344,000 for 2006. The Duncan Amendment
      is
      attached hereto as Exhibit 99.3.
The
      Company also announced in the Press Release that Dr. Phil Skolnick has been
      promoted to Executive Vice President and will continue to serve as Chief
      Scientific Officer of the Company. Dr. Skolnick, 59, joined the Company in
      January 2001 and has served as the Company's Senior Vice President, Research and
      Chief Scientific Officer.
In
      connection with Dr. Skolnick's promotion, the Company and Dr. Skolnick have
      entered into Amendment No. 1 (the "Skolnick Amendment"), dated as of June 30,
      2006, to Dr. Skolnick's Restated Employment Agreement, which was originally
      dated as of January 9, 2004. The Skolnick Amendment provides for Dr. Skolnick's
      service to the Company as Executive Vice President and Chief Scientific Officer
      until June 30, 2008. In connection with the execution of the Skolnick Amendment,
      Dr. Skolnick was granted options to purchase 350,000 shares of the Company's
      common stock at an exercise price of $2.12 per share (the closing price on
      the
      grant date of June 30, 2006) that will vest ratably annually over four years.
      Such options, to the extent not vested, shall vest immediately upon a
      termination of Dr. Skolnick's employment by the Company without cause or a
      termination of employment by Dr. Skolnick for good reason or within 6 months
      of
      certain events constituting a change of control of the Company. Additionally,
      in
      the event of a termination of Dr. Skolnick's employment by the Company without
      cause or a termination of employment by Dr. Skolnick for good reason or within
      6
      months of certain events constituting a change of control of the Company, Dr.
      Skolnick will be entitled to severance payments equal to the greater of (i)
      basic compensation for the period commencing on the date of such termination
      and
      ending June 30, 2008 and (ii) basic compensation for the period commencing
      on
      the date of such termination and ending on the date that is 12 months
      thereafter. Dr. Skolnick's annual basic compensation was not altered by the
      Skolnick Amendment and will remain at $344,000 for 2006. The Skolnick Amendment
      is attached hereto as Exhibit 99.4.
Finally,
      the Company and Dr. Warren Stern have executed Amendment No. 1 (the "Stern
      Amendment"), dated as of June 30, 2006, to Dr. Stern's Employment Agreement,
      which was originally dated as of September 10, 2003. The Stern Amendment
      provides for an extension of the term of Dr. Stern's service to the Company as
      Senior Vice President of Drug Development from September 10, 2006 until March
      31, 2007; provided, however, that the hours of service provided by Dr. Stern
      to
      the Company and Dr. Stern's basic compensation will be reduced by (i) 30% from
      October 1, 2006 until January 1, 2007 and (ii) 50% from January 1, 2007 until
      March 31, 2007. In connection with the execution of the Stern Amendment, Dr.
      Stern was granted options to purchase 75,000 shares of the Company's common
      stock at an exercise price of $2.12 per share (the closing price on the grant
      date of June 30, 2006) that will vest in full on March 31, 2007. Such options,
      to the extent not vested, shall vest immediately upon a termination of Dr.
      Stern's employment by the Company without cause or a termination of employment
      by Dr. Stern for good reason or within 6 months of certain events constituting
      a
      change of control of the Company. Additionally, the Stern Amendment provides
      that Dr. Stern shall be paid on October 1, 2006 for all accrued and unused
      vacation accumulated by Dr. Stern prior to such date and Dr. Stern shall be
      entitled to three weeks of paid vacation during the period between October
      1,
      2006 and March 31, 2007. The Company has also agreed pursuant to the Stern
      Amendment to reimburse Dr. Stern for travel or other expenses relating to Dr.
      Stern's commute to the Company's Somerset offices and local lodging in Somerset,
      New Jersey provided that such expenses shall in no event exceed $370 every
      10
      business days. The Stern Amendment is attached hereto as Exhibit 99.5.
ITEM
              9.01.
EXHIBITS.
(d)
      Exhibits. The following exhibits are filed with this Current Report on Form
      8-K.
Exhibit
                No.
Title
99.1
Press
                Release, dated July 5, 2006, of DOV Pharmaceutical,
                Inc.
99.2
Separation
                and General Release Agreement, dated as of June 29, 2006, by and
                between
                Dr. Leslie Hudson and DOV Pharmaceutical, Inc.
99.3
Amendment
                No. 1 to Employment Agreement, dated as of June 30, 2006, by and
                between
                Ms. Barbara Duncan and DOV Pharmaceutical, Inc.
99.4
Amendment
                No. 1 to Restated Employment Agreement, dated as of June 30, 2006,
                by and
                between Dr. Phil Skolnick and DOV Pharmaceutical, Inc.
99.5
Amendment
                No. 1 to Employment Agreement, dated as of June 30, 2006, by and
                between
                Dr. Warren Stern and DOV Pharmaceutical,
                Inc.
SIGNATURES
Pursuant
      to the requirements of the Securities Exchange Act of 1934, registrant has
      duly
      caused this report to be signed on its behalf by the undersigned thereunto
      duly
      authorized.
DOV
                Pharmaceutical, Inc.
Date:
July
                6, 2006
By:
/s/
                Barbara Duncan
Barbara
                Duncan
President
                and Chief Financial Officer
EXHIBIT
      INDEX
Exhibit
                No.
Title
99.1
Press
                Release, dated July 5, 2006, of DOV Pharmaceutical,
                Inc.
99.2
Separation
                and General Release Agreement, dated as of June 29, 2006, by and
                between
                Dr. Leslie Hudson and DOV Pharmaceutical, Inc.
99.3
Amendment
                No. 1 to Employment Agreement, dated as of June 30, 2006, by and
                between
                Ms. Barbara Duncan and DOV Pharmaceutical, Inc.
99.4
Amendment
                No. 1 to Restated Employment Agreement, dated as of June 30, 2006,
                by and
                between Dr. Phil Skolnick and DOV Pharmaceutical, Inc.
99.5
Amendment
                No. 1 to Employment Agreement, dated as of June 30, 2006, by and
                between
                Dr. Warren Stern and DOV Pharmaceutical,
                Inc.