SEC FORM 3

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

KNOTT DAVID M

(Last)

(First)

(Middle)

485 UNDERHILL BLVD

SUITE 205

(Street)

SYOSSET

11791

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/13/2006

3. Issuer Name and Ticker or Trading Symbol
COLUMBIA LABORATORIES INC [ CBRX ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, $.01 par value per share	53,800	I	By Finderne, LLC⁽¹⁾
Common Stock, $.01 par value per share	161,200	I	By Commonfund Hedged Equity Company⁽¹⁾
Common Stock, $.01 par value per share	1,600	I	By Client⁽¹⁾
Common Stock, $.01 par value per share	995,780	I	By Knott Partners, L.P.⁽¹⁾
Common Stock, $.01 par value per share	1,754,270	I	By Matterhorn Offshore Fund Limited⁽¹⁾
Common Stock, $.01 par value per share	747,200	I	By Shoshone Partners, L.P.⁽¹⁾
Common Stock, $.01 par value per share	3,920	D
Common Stock, $.01 par value per share	600	I	By Wife

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Warrant to purchase Common Stock, $.01 par value per share	09/13/2006	09/13/2011	Common Stock, $.01 par value per share	5,725	$5.39	I	By Finderne, LLC⁽¹⁾
Warrant to purchase Common Stock, $.01 par value per share	09/13/2006	09/13/2011	Common Stock, $.01 par value per share	7,450	$5.39	I	By Commonfund Hedged Equity Company⁽¹⁾
Warrant to purchase Common Stock, $.01 par value per share	09/13/2006	09/13/2011	Common Stock, $.01 par value per share	75,120	$5.39	I	By Knott Partners, L.P.⁽¹⁾
Warrant to purchase Common Stock, $.01 par value per share	09/13/2006	09/13/2006	Common Stock, $.01 par value per share	202,212	$5.39	I	By Matterhorn Offshore Fund Limited⁽¹⁾
Warrant to purchase Common Stock, $.01 par value per share	09/13/2006	09/13/2011	Common Stock, $.01 par value per share	80,750	$5.39	I	By Shoshone Partners, L.P.⁽¹⁾
Series C Preferred Stock	⁽²⁾	⁽³⁾	Common Stock, $.01 par value per share	339,428	$3.5	I	By Knott Partners, L.P.⁽¹⁾
Series C Preferred Stock	⁽²⁾	⁽³⁾	Common Stock, $.01 par value per share	32,000	$3.5	D
Series E Preferred Stock	⁽²⁾	⁽³⁾	Common Stock, $.01 par value per share	14,000	$2	I	By Finderne, LLC⁽¹⁾
Series E Preferred Stock	⁽²⁾	⁽³⁾	Common Stock, $.01 par value per share	49,000	$2	I	By Commonfund Hedged Equity Company⁽¹⁾
Series E Preferred Stock	⁽²⁾	⁽³⁾	Common Stock, $.01 par value per share	399,000	$2	I	By Knott Partners, L.P.⁽¹⁾
Series E Preferred Stock	⁽²⁾	⁽³⁾	Common Stock, $.01 par value per share	479,000	$2	I	By Matterhorn Offshore Fund Limited⁽¹⁾
Series E Preferred Stock	⁽²⁾	⁽³⁾	Common Stock, $.01 par value per share	259,000	$2	I	By Shoshone Partners, L.P.⁽¹⁾

Explanation of Responses:

1. The Reporting Person is the managing member of Knott Partners Management, LLC, which is the sole General Partner of Shoshone Partners, L.P. and managing general partner of Knott Partners, L.P. In addition, the Reporting Person is the sole shareholder, director and president of Dorset Management Corporation, which provides investment management services to those entities listed in Table I(4). As a result of the Reporting Person's interests in Knott Partners Management, LLC and Dorset Management Corporation, the Reporting Person has investment discretion and control in the securities in Table I(2). The Reporting Person may be deemed to beneficially own indirect pecuniary interest in securities in Table I(2) as a result of a performance related fee. The Reporting Person disclaims beneficial ownership therein except to the extent ultimately realized.

2. These shares are currently convertible.

3. These shares do not expire.

	David M. Knott	03/17/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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