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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 FypL8KB0lTsweu6jxJnyIfrU833KyOhYAzeeEozJinoRnvmdcWig+/JDnAzmguaI
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<SEC-DOCUMENT>0001181431-06-011967.txt : 20060215
<SEC-HEADER>0001181431-06-011967.hdr.sgml : 20060215
<ACCEPTANCE-DATETIME>20060215193835
ACCESSION NUMBER:		0001181431-06-011967
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060213
FILED AS OF DATE:		20060215
DATE AS OF CHANGE:		20060215

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HOLLIS EDEN PHARMACEUTICALS INC /DE/
		CENTRAL INDEX KEY:			0000899394
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				133697002
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		4435 EASTGATE MALL
		STREET 2:		SUITE 400
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121
		BUSINESS PHONE:		858-587-9333

	MAIL ADDRESS:	
		STREET 1:		4435 EASTGATE MALL
		STREET 2:		SUITE 400
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INITIAL ACQUISITION CORP
		DATE OF NAME CHANGE:	19930329

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HOLLIS RICHARD B
		CENTRAL INDEX KEY:			0001056208

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24672
		FILM NUMBER:		06623389

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		6195879333

	MAIL ADDRESS:	
		STREET 1:		9333 GENESEE AVENUE
		STREET 2:		SUITE 110
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd108279.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-02-13</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000899394</issuerCik>
        <issuerName>HOLLIS EDEN PHARMACEUTICALS INC /DE/</issuerName>
        <issuerTradingSymbol>HEPH</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001056208</rptOwnerCik>
            <rptOwnerName>HOLLIS RICHARD B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4435 EASTGATE MALL, SUITE 400</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN DIEGO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92121</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman and CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2006-02-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>24000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2290499</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6.20</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-02-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>72000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2016-02-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>72000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>72000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Restricted stock award granted under the Issuer's 2005 Equity Incentive Plan, as amended.</footnote>
        <footnote id="F2">Includes 2,158 shares of Issuer's common stock acquired by the Reporting Person under the Issuer's 401(k) Plan.  The information in this report is based on a plan statement dated as of December 31, 2005.</footnote>
        <footnote id="F3">25% of the shares subject to the Stock Option shall vest and become exercisable on the first anniversary of the date of grant.  The balance of the shares shall vest and become exercisable in 36 equal monthly installments thereafter.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Eric J. Loumeau, Attorney-In-Fact</signatureName>
        <signatureDate>2006-02-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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