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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITIES AND
EXCHANGE COMMISSION                                     <BR>                    Washington,
D.C. 20549                                                </FONT></H1>



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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM S-8<BR>
                                                        REGISTRATION STATEMENT<BR>
                                                                 UNDER<BR>
                                                      THE SECURITIES ACT OF 1933 </FONT></H1>


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     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">AspenBio Pharma, Inc.</FONT></TH></TR>
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     <TD WIDTH="100%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Exact name of registrant as specified in its charter)
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     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Colorado</U> </FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>84-1553387</U> </FONT></TH></TR>
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     <TD WIDTH="50%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(State or other jurisdiction of incorporation or organization)
</FONT></TD>
     <TD WIDTH="50%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(I.R.S. Employer Identification No.)
</FONT></TD></TR>
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     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>1585 South Perry Street, Castle Rock, Colorado 80104</U> </FONT>
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     <TD WIDTH="100%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Address of principal executive offices)
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     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">ASPENBIO PHARMA, INC. 2002 STOCK INCENTIVE PLAN
</FONT></TH></TR>
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     <TD WIDTH="100%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(full title of the plan)</FONT></TD></TR>
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     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Richard G. Donnelly, Chief Executive Officer<BR>
1585 South Perry Street, Castle Rock, Colorado 80104<BR>
303-794-2000</FONT></TH></TR>
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     <TD WIDTH="100%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Name, address and telephone number, including area code, of agent for service)
</FONT></TD></TR>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Copy to:<BR>
                    Theresa Mehringer             <BR>     Burns Figa &amp; Will, P.C.<BR>
        6400 S. Fiddlers Green Circle, Suite 1000      <BR>       Greenwood Village, Colorado
80111        <BR>              (303) 796-2626
                                                  </FONT></H1>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CALCULATION OF
REGISTRATION FEE </FONT></H1>
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     <TH COLSPAN=1><FONT FACE="Times New Roman" SIZE=2>Title of Securities to be Registered</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=1><FONT FACE="Times New Roman" SIZE=2>Amount to Be<BR>
Registered (1)</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman"></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=1><FONT FACE="Times New Roman" SIZE=2>Proposed Maximum<BR>
Offering Price Per<BR>
Share (2)</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman"></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=1><FONT FACE="Times New Roman" SIZE=2>Proposed Maximum Aggregate<BR>
Offering Price (2)</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman"></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=1><FONT FACE="Times New Roman" SIZE=2>Amount of Registration<BR>
Fee (2)</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=1><FONT FACE="Times New Roman"></FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
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     <TD WIDTH="50%" ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>Common Stock, no par value per share, under the:</FONT></TD>
     <TD WIDTH="1%" ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="RIGHT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH="10%" ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
        <TD WIDTH="1%" ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="RIGHT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH="10%" ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
        <TD WIDTH="1%" ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="RIGHT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH="10%" ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
        <TD WIDTH="1%" ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="RIGHT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH="10%" ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
        <TD WIDTH="1%" ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>

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     <TD COLSPAN=15><HR NOSHADE COLOR=#000000 SIZE=1></TD></TR>
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     <TD ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AspenBio Pharma, Inc. 2002 Stock Incentive Plan</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>4,250,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>    $ 4.70</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>$19,975,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>$ 613.23</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR>
     <TD COLSPAN=15><HR NOSHADE COLOR=#000000 SIZE=1></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>4,250,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>   $ 4.70</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>$19,975,000</FONT></TD>
        <TD ALIGN="LEFT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>$ 613.23</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR>
     <TD COLSPAN=15><HR NOSHADE COLOR=#000000 SIZE=3></TD></TR>
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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Together with an indeterminate number of additional shares which may be
          necessary to adjust the number of shares reserved for issuance pursuant to such
          employee benefit plan as the result of any future stock split, stock dividend or
          similar adjustment of the outstanding common stock. </FONT></TD>
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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Estimated solely for the purpose of calculating the registration fee pursuant to
          Rules&nbsp;457(c) and 457(h) under the Securities Act of 1933, as amended (the
          &#147;Securities Act&#148;). The calculation of the registration fee is based
          upon a per share price of $4.70 which was the closing price of AspenBio Pharma,
          Inc.&#145;s common stock on June 20, 2007, as reported for such date by the
          Over-the-Counter Bulletin Board. </FONT></TD>
          </TR>
          </TABLE>
          <BR>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PART II </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INFORMATION REQUIRED
IN REGISTRATION STATEMENT </FONT></H1>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 3. &nbsp;&nbsp;INCORPORATION OF CERTAIN
DOCUMENTS BY REFERENCE </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following documents filed with the Securities and Exchange Commission (the
&#147;Commission&#148;) by the registrant, AspenBio Pharma, Inc., a Colorado corporation
(the &#147;Registrant&#148;), are hereby incorporated by reference in this Registration
Statement: </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The Registrant&#146;s Annual Report on Form&nbsp;10-KSB for the fiscal year
          ended December 31, 2006, filed on March 30, 2007, which contains audited
          financial statements for the most recent fiscal year. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The description of the Registrant&#146;s common stock contained in the
          Registration Statement on Form&nbsp;S-1, filed on April 12, 2002, under
          Section&nbsp;12(g) of the Securities Exchange Act of 1934, as amended (the
          &#147;Exchange Act&#148;), including any amendments or reports filed for the
          purpose of updating such description. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          All other reports filed by the Registrant pursuant to Section&nbsp;13(a) or
          15(d) of the Exchange Act since the end of the fiscal year covered by the Annual
          Report on Form&nbsp;10-KSB referred to in (a)&nbsp;above. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
documents filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of
the Exchange Act after the date hereof, and prior to the filing of a post-effective
amendment which indicates that the securities offered hereby have been sold or which
deregisters the securities covered hereby then remaining unsold, shall also be deemed to
be incorporated by reference into this Registration Statement and to be a part hereof
commencing on the respective date of filing of such documents. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 4. &nbsp;&nbsp;DESCRIPTION OF
SECURITIES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 5. &nbsp;&nbsp;INTERESTS OF
NAMED EXPERTS AND COUNSEL </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None. </FONT></P>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 6. &nbsp;&nbsp;INDEMNIFICATION
OF DIRECTORS AND OFFICERS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registrant&#146;s Articles of Incorporation limit the liability of the Registrant&#146;s
directors to the fullest extent permitted by the Colorado Business Corporation Act as it
currently exists or as it may be amended in the future. Any repeal of or modification to
such provision in the Registrant&#146;s Articles of Incorporation may not adversely affect
the rights of a director with respect to any acts or omissions of such director occurring
prior to such repeal or modification. Subject to the Colorado Business Corporation Act, no
director will be personally liable to the Registrant or its shareholders for monetary
damages resulting from his or her conduct as a director, except liability for: (i) any
breach of the director&#146;s duty of loyalty to the corporation or to its shareholders;
(ii) for acts or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law; (iii) acts specified under Section 7-108-403 of the Colorado
Business Corporation Act or any amended or successor provision thereof; or (iv) for any
transaction from which the director derived an improper personal benefit. </FONT></P>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 7. &nbsp;&nbsp;EXEMPTION FROM
REGISTRATION CLAIMED </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 8.&nbsp;&nbsp; EXHIBITS </FONT></H1>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%> <FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Exhibit <BR>Number</B> </FONT> </TD>
<TD WIDTH=85%>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR><B>Description</B> </FONT> </TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>      4.1 </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
AspenBio Pharma, Inc. 2002 Stock Incentive Plan (Amended and Restated-June 1, 2007) </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>       5.1  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Opinion
of Burns, Figa  &amp; Will, P.C. regarding the legality of the common stock being registered </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>      23.1  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of GHP Horwath, P.C., Independent Registered Public Accounting Firm </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>      23.2  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Burns, Figa  &amp; Will, P.C. (included in opinion filed as Exhibit 5.1) </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>      24.1  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Power
of Attorney (see signature page) </FONT></TD>
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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.&nbsp;&nbsp; UNDERTAKINGS </FONT></H1>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>A.&nbsp;&nbsp;&nbsp;&nbsp;
          The undersigned Registrant hereby undertakes: </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          To file, during any period in which offers or sales are being made, a
          post-effective amendment to this Registration Statement: </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          To include any prospectus required by Section&nbsp;10(a)(3) of the Securities
          Act; </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          To reflect in the prospectus any facts or events arising after the effective
          date of this Registration Statement (or the most recent post-effective amendment
          thereof) which, individually or in the aggregate, represent a fundamental change
          in the information set forth in this Registration Statement; and </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          To include any material information with respect to the plan of distribution not
          previously disclosed in this Registration Statement or any material change to
          such information in this Registration Statement; <U>provided</U>,
          <U>however</U>, that paragraphs&nbsp;(1)(i) and (1)(ii) above do not apply if
          the information required to be included in a post-effective amendment by those
          paragraphs is contained in periodic reports filed by the Registrant pursuant to
          Section&nbsp;13 or Section&nbsp;15(d) of the Exchange Act that are incorporated
          by reference in this Registration Statement. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          That, for the purpose of determining any liability under the Securities Act,
          each such post-effective amendment shall be deemed to be a new registration
          statement relating to the securities offered therein, and the offering of such
          securities at that time shall be deemed to be the initial bona fide offering
          thereof. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          To remove from registration by means of a post-effective amendment any of the
          securities being registered which remain unsold at the termination of the
          offering. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR"  -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>B.&nbsp;&nbsp;&nbsp;&nbsp;
          The undersigned Registrant hereby undertakes that, for purposes of determining
          any liability under the Securities Act, each filing of the Registrant&#146;s
          annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where
          applicable, each filing of an employee benefits plan&#146;s annual report
          pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference
          in this Registration Statement shall be deemed to be a new registration
          statement relating to the securities offered therein, and the offering of such
          securities at that time shall be deemed to be the initial bona fide offering
          thereof. </FONT></P>

<!-- MARKER FORMAT-SHEET="Page Number Center" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II-2 </FONT></P>

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<HR SIZE=5 COLOR=GRAY NOSHADE>
<DIV STYLE="page-break-after:always"></DIV>


<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR"  -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>C.&nbsp;&nbsp;&nbsp;&nbsp;
          Insofar as indemnification for liabilities arising under the Securities Act may
          be permitted to directors, officers and controlling persons of the Registrant
          pursuant to the foregoing provisions, or otherwise, the Registrant has been
          advised that in the opinion of the Commission such indemnification is against
          public policy as expressed in the Securities Act and is, therefore,
          unenforceable. In the event that a claim for indemnification against such
          liabilities (other than the payment by the Registrant of expenses incurred or
          paid by a director, officer or controlling person of the Registrant in the
          successful defense of any action, suit or proceeding) is asserted by such
          director, officer or controlling person in connection with the securities being
          registered, the Registrant will, unless in the opinion of its counsel the matter
          has been settled by controlling precedent, submit to a court of appropriate
          jurisdiction the question whether such indemnification by it is against public
          policy as expressed in the Securities Act and will be governed by the final
          adjudication of such issue. </FONT></P>

<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II-3 </FONT></P>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on
Form&nbsp;S-8 and has duly caused this Registration Statement to be signed on its behalf
by the undersigned, thereunto duly authorized, in the City of Castle Rock, Colorado on June 22, 2007. </FONT></P>












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     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TH></TR>
<TR VALIGN="TOP">
     <TD WIDTH="50%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD WIDTH="50%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>ASPENBIO PHARMA, INC.</B><BR>
<BR>
By: <U>/s/ Richard G. Donnelly</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;Richard G. Donnelly,<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer </FONT>
</TD></TR>
</TABLE><BR><BR>




<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>POWER OF ATTORNEY </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
person whose individual signature appears below hereby authorizes Richard G. Donnelly, as
attorney-in-fact with full power of substitution, to execute in the name and on the behalf
of each person, individually and in each capacity stated below, and to file, any and all
amendments to this Registration Statement, including any and all post-effective
amendments. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act, this Registration Statement has been signed by
the following persons in the capacities indicated below on this 22nd day of June,
2007. </FONT></P>


<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>/s/ Richard G. Donnelly </U><BR>Richard G.
Donnelly, Chief Executive Officer and Director </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>/s/ Gregory Pusey </U><BR>Gregory Pusey,
Chairman, Secretary and Director </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>/s/ Gail S. Schoettler </U><BR>Gail S.
Schoettler, Director </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>/s/ Douglas I. Hepler </U><BR>Douglas I.
Hepler, Director </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>/s/ David E. Welch </U><BR>David E. Welch,
Director </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>/s/ Jeffrey G. McGonegal </U><BR>Jeffrey G.
McGonegal, Chief Financial Officer </FONT> </P>

<BR><BR><BR><BR><BR><BR><BR>
<!-- MARKER FORMAT-SHEET="Page Number Center" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II-4 </FONT></P>


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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%> <FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Exhibit <BR>Number</B> </FONT> </TD>
<TD WIDTH=85%>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR><B>Description</B> </FONT> </TD>
</TR>
</TABLE>
<BR>




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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>      4.1 </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
AspenBio Pharma, Inc. 2002 Stock Incentive Plan (Amended and Restated-June 1, 2007) </FONT></TD>
</TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>       5.1  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Opinion
of Burns, Figa  &amp; Will, P.C. regarding the legality of the common stock being registered </FONT></TD>
</TR>
</TABLE>
<BR>





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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>      23.1  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of GHP Horwath, P.C., Independent Registered Public Accounting Firm </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>      23.2  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Burns, Figa  &amp; Will, P.C. (included in opinion filed as Exhibit 5.1) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>      24.1  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Power
of Attorney (see signature page) </FONT></TD>
</TR>
</TABLE>
<BR>

<BR><BR><BR><BR><BR><BR><BR><BR>

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[{"type": "S-8", "sequence": "1", "filename": "apnb_s8.htm", "description": "FORM S-8", "secsgml_size_bytes": 33982}]
{"company-data": {"conformed-name": "AspenBio Pharma, Inc.", "cik": "0001167419", "assigned-sic": "2835", "irs-number": "841553387", "state-of-incorporation": "CO", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-143959", "film-number": "07935342"}, "business-address": {"street1": "1585 S. PERRY STREET", "city": "CASTLE ROCK", "state": "CO", "zip": "80104", "phone": "(303) 794-2000"}, "mail-address": {"street1": "1585 S. PERRY STREET", "city": "CASTLE ROCK", "state": "CO", "zip": "80104"}, "former-company": {"former-conformed-name": "ASPENBIO INC", "date-changed": "20020213"}}
SECURITIES AND
EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
AspenBio Pharma, Inc.
(Exact name of registrant as specified in its charter)
Colorado
84-1553387
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
1585 South Perry Street, Castle Rock, Colorado 80104
(Address of principal executive offices)
ASPENBIO PHARMA, INC. 2002 STOCK INCENTIVE PLAN
(full title of the plan)
Richard G. Donnelly, Chief Executive Officer
1585 South Perry Street, Castle Rock, Colorado 80104
303-794-2000
(Name, address and telephone number, including area code, of agent for service)
Copy to:
Theresa Mehringer
Burns Figa & Will, P.C.
6400 S. Fiddlers Green Circle, Suite 1000
Greenwood Village, Colorado
80111
(303) 796-2626
CALCULATION OF
REGISTRATION FEE
Title of Securities to be Registered
Amount to Be
Registered (1)
Proposed Maximum
Offering Price Per
Share (2)
Proposed Maximum Aggregate
Offering Price (2)
Amount of Registration
Fee (2)
Common Stock, no par value per share, under the:
AspenBio Pharma, Inc. 2002 Stock Incentive Plan
4,250,000
$ 4.70
$19,975,000
$ 613.23
Total
4,250,000
$ 4.70
$19,975,000
$ 613.23
(1)
Together with an indeterminate number of additional shares which may be
          necessary to adjust the number of shares reserved for issuance pursuant to such
          employee benefit plan as the result of any future stock split, stock dividend or
          similar adjustment of the outstanding common stock.
(2)
Estimated solely for the purpose of calculating the registration fee pursuant to
          Rules 457(c) and 457(h) under the Securities Act of 1933, as amended (the
          "Securities Act"). The calculation of the registration fee is based
          upon a per share price of $4.70 which was the closing price of AspenBio Pharma,
          Inc.'s common stock on June 20, 2007, as reported for such date by the
          Over-the-Counter Bulletin Board.
PART II
INFORMATION REQUIRED
IN REGISTRATION STATEMENT
Item 3.   INCORPORATION OF CERTAIN
DOCUMENTS BY REFERENCE
The
following documents filed with the Securities and Exchange Commission (the
"Commission") by the registrant, AspenBio Pharma, Inc., a Colorado corporation
(the "Registrant"), are hereby incorporated by reference in this Registration
Statement:
(a)       
          The Registrant's Annual Report on Form 10-KSB for the fiscal year
          ended December 31, 2006, filed on March 30, 2007, which contains audited
          financial statements for the most recent fiscal year.
(b)       
          The description of the Registrant's common stock contained in the
          Registration Statement on Form S-1, filed on April 12, 2002, under
          Section 12(g) of the Securities Exchange Act of 1934, as amended (the
          "Exchange Act"), including any amendments or reports filed for the
          purpose of updating such description.
(c)       
          All other reports filed by the Registrant pursuant to Section 13(a) or
          15(d) of the Exchange Act since the end of the fiscal year covered by the Annual
          Report on Form 10-KSB referred to in (a) above.
All
documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of
the Exchange Act after the date hereof, and prior to the filing of a post-effective
amendment which indicates that the securities offered hereby have been sold or which
deregisters the securities covered hereby then remaining unsold, shall also be deemed to
be incorporated by reference into this Registration Statement and to be a part hereof
commencing on the respective date of filing of such documents.
Item 4.   DESCRIPTION OF
SECURITIES
Not
applicable.
Item 5.   INTERESTS OF
NAMED EXPERTS AND COUNSEL
None.
Item 6.   INDEMNIFICATION
OF DIRECTORS AND OFFICERS
The
Registrant's Articles of Incorporation limit the liability of the Registrant's
directors to the fullest extent permitted by the Colorado Business Corporation Act as it
currently exists or as it may be amended in the future. Any repeal of or modification to
such provision in the Registrant's Articles of Incorporation may not adversely affect
the rights of a director with respect to any acts or omissions of such director occurring
prior to such repeal or modification. Subject to the Colorado Business Corporation Act, no
director will be personally liable to the Registrant or its shareholders for monetary
damages resulting from his or her conduct as a director, except liability for: (i) any
breach of the director's duty of loyalty to the corporation or to its shareholders;
(ii) for acts or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law; (iii) acts specified under Section 7-108-403 of the Colorado
Business Corporation Act or any amended or successor provision thereof; or (iv) for any
transaction from which the director derived an improper personal benefit.
Item 7.   EXEMPTION FROM
REGISTRATION CLAIMED
Not
applicable.
Item 8.   EXHIBITS
Exhibit
Number
Description
4.1
AspenBio Pharma, Inc. 2002 Stock Incentive Plan (Amended and Restated-June 1, 2007)
5.1
Opinion
of Burns, Figa  & Will, P.C. regarding the legality of the common stock being registered
23.1
Consent
of GHP Horwath, P.C., Independent Registered Public Accounting Firm
23.2
Consent
of Burns, Figa  & Will, P.C. (included in opinion filed as Exhibit 5.1)
24.1
Power
of Attorney (see signature page)
Item 9.   UNDERTAKINGS
A.    
          The undersigned Registrant hereby undertakes:
(1)       
          To file, during any period in which offers or sales are being made, a
          post-effective amendment to this Registration Statement:
(i)       
          To include any prospectus required by Section 10(a)(3) of the Securities
          Act;
(ii)       
          To reflect in the prospectus any facts or events arising after the effective
          date of this Registration Statement (or the most recent post-effective amendment
          thereof) which, individually or in the aggregate, represent a fundamental change
          in the information set forth in this Registration Statement; and
(iii)       
          To include any material information with respect to the plan of distribution not
          previously disclosed in this Registration Statement or any material change to
          such information in this Registration Statement;
provided
,
however
, that paragraphs (1)(i) and (1)(ii) above do not apply if
          the information required to be included in a post-effective amendment by those
          paragraphs is contained in periodic reports filed by the Registrant pursuant to
          Section 13 or Section 15(d) of the Exchange Act that are incorporated
          by reference in this Registration Statement.
(2)       
          That, for the purpose of determining any liability under the Securities Act,
          each such post-effective amendment shall be deemed to be a new registration
          statement relating to the securities offered therein, and the offering of such
          securities at that time shall be deemed to be the initial bona fide offering
          thereof.
(3)       
          To remove from registration by means of a post-effective amendment any of the
          securities being registered which remain unsold at the termination of the
          offering.
B.    
          The undersigned Registrant hereby undertakes that, for purposes of determining
          any liability under the Securities Act, each filing of the Registrant's
          annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where
          applicable, each filing of an employee benefits plan's annual report
          pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference
          in this Registration Statement shall be deemed to be a new registration
          statement relating to the securities offered therein, and the offering of such
          securities at that time shall be deemed to be the initial bona fide offering
          thereof.
II-2
C.    
          Insofar as indemnification for liabilities arising under the Securities Act may
          be permitted to directors, officers and controlling persons of the Registrant
          pursuant to the foregoing provisions, or otherwise, the Registrant has been
          advised that in the opinion of the Commission such indemnification is against
          public policy as expressed in the Securities Act and is, therefore,
          unenforceable. In the event that a claim for indemnification against such
          liabilities (other than the payment by the Registrant of expenses incurred or
          paid by a director, officer or controlling person of the Registrant in the
          successful defense of any action, suit or proceeding) is asserted by such
          director, officer or controlling person in connection with the securities being
          registered, the Registrant will, unless in the opinion of its counsel the matter
          has been settled by controlling precedent, submit to a court of appropriate
          jurisdiction the question whether such indemnification by it is against public
          policy as expressed in the Securities Act and will be governed by the final
          adjudication of such issue.
II-3
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on
Form S-8 and has duly caused this Registration Statement to be signed on its behalf
by the undersigned, thereunto duly authorized, in the City of Castle Rock, Colorado on June 22, 2007.
ASPENBIO PHARMA, INC.
By:
/s/ Richard G. Donnelly
Richard G. Donnelly,
Chief Executive Officer
POWER OF ATTORNEY
Each
person whose individual signature appears below hereby authorizes Richard G. Donnelly, as
attorney-in-fact with full power of substitution, to execute in the name and on the behalf
of each person, individually and in each capacity stated below, and to file, any and all
amendments to this Registration Statement, including any and all post-effective
amendments.
Pursuant
to the requirements of the Securities Act, this Registration Statement has been signed by
the following persons in the capacities indicated below on this 22nd day of June,
2007.
/s/ Richard G. Donnelly
Richard G.
Donnelly, Chief Executive Officer and Director
/s/ Gregory Pusey
Gregory Pusey,
Chairman, Secretary and Director
/s/ Gail S. Schoettler
Gail S.
Schoettler, Director
/s/ Douglas I. Hepler
Douglas I.
Hepler, Director
/s/ David E. Welch
David E. Welch,
Director
/s/ Jeffrey G. McGonegal
Jeffrey G.
McGonegal, Chief Financial Officer
II-4
Exhibit
Number
Description
4.1
AspenBio Pharma, Inc. 2002 Stock Incentive Plan (Amended and Restated-June 1, 2007)
5.1
Opinion
of Burns, Figa  & Will, P.C. regarding the legality of the common stock being registered
23.1
Consent
of GHP Horwath, P.C., Independent Registered Public Accounting Firm
23.2
Consent
of Burns, Figa  & Will, P.C. (included in opinion filed as Exhibit 5.1)
24.1
Power
of Attorney (see signature page)