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): December 21, 2007

LIPID SCIENCES, INC.

(Exact name of registrant as specified in its charter)

Delaware		0-497		43-0433090
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S Employer Identification No.)

7068 Koll Center Parkway, Suite 401, Pleasanton, California

(Address of principal executive offices)

94566

(Zip Code)

Registrant’s telephone number, including area code: (925) 249-4000

(Former name or former address, if changed since last report.) N/A

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 (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On December 17, 2007, the Company applied to transfer the listing of its common stock from the Nasdaq Global Market to the Nasdaq Capital Market. On December 21, 2007, the Company received approval from the Nasdaq to transfer the listing of its shares to the Nasdaq Capital Market. The Company’s shares will be transferred from the Nasdaq Global Market to the Nasdaq Capital Market effective with the market opening on December 28, 2007. The Company’s trading symbol on the Nasdaq Capital Market will remain “LIPD”.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit 99.1

Press release entitled “Lipid Sciences’ Request to List on Nasdaq Capital Market Approved.”

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.

	Lipid Sciences, Inc.

Date: December 27, 2007	By:	/s/ Sandra Gardiner
		Sandra Gardiner
		Chief Financial Officer