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): February 5, 1999

                       SYNAPTIC PHARMACEUTICAL CORPORATION
               (Exact Name of Registrant as Specified in Charter)

                                    Delaware
                 (State or Other Jurisdiction of Incorporation)

        0-27324                                     22-285-9704
 (Commission File Number)               (I.R.S. Employer Identification No.)

                                215 College Road
                         Paramus, New Jersey 07652-1431
          (Address of principal executive offices, including zip code)

       Registrant's telephone number, including area code: (201) 261-1331




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Item 5.           Other Events

         On December 31, 1998, the term of the  collaboration  between  Synaptic
Pharmaceutical  Corporation (the "Company") and Eli Lilly and Company ("Lilly"),
which was focused on a number of serotonin  receptor  subtypes  and  therapeutic
applications,  expired in accordance with the terms of the Research,  Option and
License  Agreement  dated  as of  January  25,  1991.  In  connection  with  the
expiration of the term, the Company's  obligation to provide research support to
Lilly and Lilly's  corresponding  obligation to provide  research funding to the
Company terminated.

         On  February  4,  1999,  the  Company  agreed  to  provide  Lilly  with
continuing  research support through July 31, 1999, in consideration for Lilly's
agreement to provide the Company with research funding through such date.

         This Report on Form 8-K contains  "forward-looking  statements"  within
the meaning of Section 27A of the  Securities Act of 1933 and Section 21E of the
Securities  Exchange Act of 1934. Such statements  include any statements  which
are not  historical  facts.  Such  statements  involve risks and  uncertainties,
including,  but not limited to, those risks and uncertainties detailed under the
captions  "Dependence on  Collaborative  Partners and Licensees for Development,
Regulatory Approvals, Manufacturing,  Marketing and Other Resources" and "Future
Capital Needs;  Uncertainty of Additional Funding" as "Cautionary Statements" in
the Company's  Annual Report on Form 10-K for the fiscal year ended December 31,
1997,  or  detailed  from time to time in  filings  the  Company  makes with the
Securities  and  Exchange  Commission.  Although the Company  believes  that the
expectations  reflected in the forward-looking  statements  contained herein are
reasonable,  it can give no assurance  that such  expectations  will prove to be
correct.  The Company  expressly  disclaims  any  obligation or  undertaking  to
disseminate any updates or revisions to any forward-looking  statement contained
herein to reflect any change in the Company's  expectations  with regard thereto
or any change in events, conditions or circumstances on which any such statement
is based.


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                                   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.

Date:  February 5, 1999
                                            SYNAPTIC PHARMACEUTICAL CORPORATION
                                            (Registrant)

                                            By: /s/ Kathleen P. Mullinix
                                                -------------------------------
                                          Name:  Kathleen P. Mullinix
                                         Title:  Chairman, President
                                                   and Chief Executive Officer




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