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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 qZOPdh1z0PU1DjLJj/Bj+g==

<SEC-DOCUMENT>0001171843-11-000124.txt : 20110118
<SEC-HEADER>0001171843-11-000124.hdr.sgml : 20110117
<ACCEPTANCE-DATETIME>20110118130633
ACCESSION NUMBER:		0001171843-11-000124
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110117
FILED AS OF DATE:		20110118
DATE AS OF CHANGE:		20110118

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STEER RANDOLPH C
		CENTRAL INDEX KEY:			0001198762

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33560
		FILM NUMBER:		11532670

	MAIL ADDRESS:	
		STREET 1:		614 MCKINLEY PLACE NE
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55413

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Capstone Therapeutics Corp.
		CENTRAL INDEX KEY:			0000887151
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				860585310
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1275 WEST WASHINGTON STREET
		STREET 2:		SUITE 101
		CITY:			TEMPE
		STATE:			AZ
		ZIP:			85281
		BUSINESS PHONE:		6022865520

	MAIL ADDRESS:	
		STREET 1:		1275 WEST WASHINGTON STREET
		STREET 2:		SUITE 101
		CITY:			TEMPE
		STATE:			AZ
		ZIP:			85281

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ORTHOLOGIC CORP
		DATE OF NAME CHANGE:	19940211
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2011-01-17</periodOfReport>

    <issuer>
        <issuerCik>0000887151</issuerCik>
        <issuerName>Capstone Therapeutics Corp.</issuerName>
        <issuerTradingSymbol>CAPS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001198762</rptOwnerCik>
            <rptOwnerName>STEER RANDOLPH C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1275 W. WASHINGTON STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 101</rptOwnerStreet2>
            <rptOwnerCity>TEMPE</rptOwnerCity>
            <rptOwnerState>AZ</rptOwnerState>
            <rptOwnerZipCode>85281</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.67</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2011-01-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2011-01-17</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2021-01-17</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>475000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The options vest in twenty-four equal installments beginning 1/17/11</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Les M. Taeger, Attorney in-fact</signatureName>
        <signatureDate>2011-01-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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