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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

       Date of report (Date of earliest event reported): October 31, 2006

                                PHOTOMEDEX, INC.
                 (Exact Name of Registrant Specified in Charter)

           Delaware                    0-11635                  59-2058100
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 (State or other jurisdiction        (Commission             (I.R.S. Employer
      of incorporation)              File Number)          Identification No.)

                   147 Keystone Drive,
                   Montgomeryville, PA                          18936
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        (Address of principal executive offices)              (Zip Code)

       Registrant's telephone number, including area code: (215) 619-3600

                                 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 the 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))

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ITEM 8.01  OTHER EVENTS.

On November 1, 2006, PhotoMedex, Inc, ("PhotoMedex") issued a press release
reporting that it had entered into a definitive agreement with selected
institutional investors for the private placement of 9,760,000 shares of
PhotoMedex's common stock.

A copy of the press release issued by PhotoMedex on November 1, 2006 making the
announcement is filed herewith as Exhibit 99.1 and is incorporated herein by
reference.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

      (d) Exhibits

          99.1 Press release, dated November 1, 2006, issued by PhotoMedex, Inc.



                                    SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                  PHOTOMEDEX, INC.


Date: November 1, 2006                            By:  /s/ Jeffrey F. O'Donnell
                                                       -------------------------
                                                       Jeffrey F. O'Donnell
                                                       Chief Executive Officer



Exhibit No.    Description of Exhibit
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99.1           Press release, dated November 1, 2006, of PhotoMedex, Inc.