UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K/A
CURRENT REPORT

(Amendment No. 1)

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 6, 2007

NASTECH PHARMACEUTICAL COMPANY INC.

(Exact name of registrant as specified in charter)

DELAWARE
(State or other jurisdiction
of incorporation) 0-13789
(Commission
File Number) 11-2658569
(IRS Employer
Identification No.)

3830 Monte Villa Parkway
Bothell, Washington
(Address of principal executive offices) 98021
(Zip Code)

425-908-3600
(Registrant’s telephone number, including area code)

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:

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 5.02     Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

     This Amendment No. 1 to Nastech Pharmaceutical Company Inc.’s current report on Form 8-K filed on February 12, 2007 supplements the previous filing as follows:

Explanatory Note

     On February 12, 2007, Nastech Pharmaceutical Company Inc. (the “Company”) filed a current report on Form 8-K reporting under Item 5.02 the Company’s grant of restricted stock awards to its named executive officers. The purpose of this Amendment No. 1 to Form 8-K is to revise the restricted stock award section to delete the award to Dr. Steven C. Quay, as Dr. Quay was not awarded the 12,000 shares of restricted stock pursuant to the Restricted Stock Grant Agreement as was previously disclosed.

SIGNATURES

     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.

Nastech Pharmaceutical Company Inc.  

(Registrant) 

By:	/s/ Bruce R. York
	Name:	Bruce R. York
	Title:	Chief Accounting Officer

Dated: March 1, 2007

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