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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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 UNjXacEJpplcSRcUiQqyyA==

<SEC-DOCUMENT>0001181431-06-069376.txt : 20061213
<SEC-HEADER>0001181431-06-069376.hdr.sgml : 20061213
<ACCEPTANCE-DATETIME>20061213155445
ACCESSION NUMBER:		0001181431-06-069376
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061211
FILED AS OF DATE:		20061213
DATE AS OF CHANGE:		20061213

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:			Sarni Marc R
		CENTRAL INDEX KEY:			0001290474

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24672
		FILM NUMBER:		061274248

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		3143440010

	MAIL ADDRESS:	
		STREET 1:		13705 SHORELINE COURT
		CITY:			EARTH CITY
		STATE:			MO
		ZIP:			63045
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd139372.xml
<DESCRIPTION>FORM 4 DEC 2006
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-12-11</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001290474</rptOwnerCik>
            <rptOwnerName>Sarni Marc R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4435 EASTGATE MALL</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 400</rptOwnerStreet2>
            <rptOwnerCity>SAN DIEGO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92121</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.43</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-12-11</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2016-12-10</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">1/3 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 24 equal monthly installments thereafter.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Eric J. Loumeau, Attorney-in-Fact</signatureName>
        <signatureDate>2006-12-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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