-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 P7n2IRj2ML3iJYObGBRKKQ==

<SEC-DOCUMENT>0001181431-05-031602.txt : 20050611
<SEC-HEADER>0001181431-05-031602.hdr.sgml : 20050611
<ACCEPTANCE-DATETIME>20050531134324
ACCESSION NUMBER:		0001181431-05-031602
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050526
FILED AS OF DATE:		20050531
DATE AS OF CHANGE:		20050531

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHARSIGHT CORP
		CENTRAL INDEX KEY:			0001040853
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				770401273
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		800 WEST EL CAMINO REAL
		STREET 2:		STE 200
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94040
		BUSINESS PHONE:		6503143800

	MAIL ADDRESS:	
		STREET 1:		800 WEST EL CAMINO REAL
		STREET 2:		STE 200
		CITY:			MOUNTAIN VIEW
		STATE:			CA
		ZIP:			94040

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STEPHENS CYNTHIA
		CENTRAL INDEX KEY:			0001218895

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31253
		FILM NUMBER:		05866551

	BUSINESS ADDRESS:	
		STREET 1:		1800 GREEN HILL RD
		CITY:			SCOTTS VALLEY
		STATE:			CA
		ZIP:			95066
		BUSINESS PHONE:		2314304773

	MAIL ADDRESS:	
		STREET 1:		800 WEST EL CAMINO REAL
		STREET 2:		SUITE 200
		CITY:			MOUNTAIN VIEW
		STATE:			CA
		ZIP:			94040
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd80791.xml
<DESCRIPTION>STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ON FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-05-26</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001040853</issuerCik>
        <issuerName>PHARSIGHT CORP</issuerName>
        <issuerTradingSymbol>PHST</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001218895</rptOwnerCik>
            <rptOwnerName>STEPHENS CYNTHIA</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>800 WEST EL CAMINO REAL, SUITE 200</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MOUNTAIN VIEW</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94040</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Senior Vice President and CFO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Non-qualified Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.67</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-05-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2006-05-26</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-05-26</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">25% of the shares subject to the option will vest and become exercisable on May 26, 2006, and the remaining shares will vest monthly thereafter, such that 100% of the shares subject to the option will be fully vested and exercisable on May 26, 2009.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Lisa Hodges, Attorney-in-fact for Cynthia Stephens</signatureName>
        <signatureDate>2005-05-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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