8-K

                       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


                                  JUNE 30, 2004
                Date of Report (Date of earliest event reported)


                          DISCOVERY LABORATORIES, INC.
             (Exact name of Registrant as specified in its charter)


         DELAWARE                      000-26422                 94-3171943
(State or other jurisdiction    (Commission File Number)       (IRS Employer
      of incorporation)                                   Identification Number)


                           350 MAIN STREET, SUITE 307
                         DOYLESTOWN, PENNSYLVANIA 18901
                    (Address of principal executive offices)


                                 (215) 340-4699
              (Registrant's telephone number, including area code)


          (Former name or former address, if changed since last report)


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ITEM 5. OTHER EVENTS

         On June 30, 2004,  Discovery  Laboratories,  Inc.  (the  "Registrant"),
issued a press  release to announce  approval for trading of its common stock on
the NASDAQ  National  Market  under its current  symbol DSCO.  The  Registrant's
common stock previously traded on the NASDAQ SmallCap Market.

ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND EXHIBITS

      (c)   Exhibits:

            99.1  Press Release dated June 30, 2004.


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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.



                                    DISCOVERY LABORATORIES, INC.



                                    By:    /s/ Robert J. Capetola
                                         ---------------------------------------
                                    Name:  Robert J. Capetola, Ph.D.
                                    Title: President and Chief Executive Officer


Date: June 30, 2004


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EX-99.1

                                                                    EXHIBIT 99.1

            Discovery Laboratories Elevated to NASDAQ National Market

DOYLESTOWN, PA -- JUNE 30, 2004 -- DISCOVERY LABORATORIES,  INC. (NASDAQ: DSCO),
announced that it has received  approval to trade its common stock on the NASDAQ
National Market under its current symbol DSCO, starting today. Discovery's stock
was previously traded on the NASDAQ SmallCap Market.

John G. Cooper, Discovery's Executive Vice President and Chief Financial Officer
commented,  "Discovery has evolved quite significantly during the past year with
the successful achievement of several critical milestones.  Consistent with that
growth, we have attracted a significant  institutional and retail investor base.
Trading on the NASDAQ National Market further enhances our visibility throughout
the investing community."

ABOUT DISCOVERY LABORATORIES

Discovery  Laboratories,  Inc. is a  biopharmaceutical  company  developing  its
proprietary  surfactant  technology  as  Surfactant  Replacement  Therapies  for
respiratory  diseases.  Surfactants are compositions  produced  naturally in the
lungs and essential for breathing. Discovery's technology produces an engineered
version of natural human lung  surfactant  that is designed to closely mimic the
essential  properties of human lung surfactant.  Discovery believes that through
its technology, pulmonary surfactants have the potential, for the first time, to
be developed into a series of respiratory  therapies for critical care and other
hospitalized patients where there are few or no approved therapies available.

Discovery has filed a New Drug  Application with the FDA for clearance to market
Surfaxin(R),  the Company's  lead  product,  for the  prevention of  Respiratory
Distress  Syndrome in premature  infants.  Discovery  is currently  conducting a
Phase 2 clinical trial for Acute Respiratory  Distress Syndrome in adults, Phase
3 and Phase 2 clinical  trials for  Meconium  Aspiration  Syndrome in  full-term
infants and with aerosolized surfactant  formulations is preparing to initiate a
Phase 2 trial for  asthma  (development  name  DSC-104)  and a Phase 2 trial for
Respiratory Dysfunction in premature infants.

More  information  about  Discovery is available  on the  Company's  Web site at
www.DiscoveryLabs.com.

To the extent that statements in this press release are not strictly historical,
including  statements  as to  business  strategy,  outlook,  objectives,  future
milestones,  plans,  intentions,  goals,  future  financial  conditions,  future
collaboration  agreements,  the success of the  Company's  product  development,
events  conditioned on stockholder or other approval,  or otherwise as to future
events, such statements are  forward-looking,  and are made pursuant to the safe
harbor provisions of the Private  Securities  Litigation Reform Act of 1995. The
forward-looking  statements  contained  in this  release  are subject to certain
risks and  uncertainties  that could cause actual  results to differ  materially
from the  statements  made.  Among the factors  which could affect the Company's
actual  results and could cause  results to differ from those  contained  in the
forward-looking   statements  contained  herein  are  the  risk  that  financial
conditions may change,  risks relating to the progress of the Company's research
and development,  the risk that the Company will not be able to raise additional
capital or enter into additional  collaboration  agreements (including strategic
alliances for our aerosol and Surfactant Replacement  Therapies),  risk of delay
in the Company's preparation and filing of applications for regulatory approval,
risk of delay in the FDA's  approval of any  applications  filed by the Company,
risks that the FDA will not approve  the  marketing  and sale of a drug  product
even after the FDA has  accepted  the  application  filed by the Company for any
such drug product,  risks  relating to the ability of the Company's  third party
contract  manufacturers  to provide the Company with  adequate  supplies of drug
substance  and drug products for  completion  of any of the  Company's  clinical
studies, other risks relating to the lack of adequate supplies of drug substance
and drug product for completion of any of the Company's  clinical  studies,  and
risks relating to the development of competing  therapies and/or technologies by
other companies.  Companies in the pharmaceutical  and biotechnology  industries
have  suffered  significant  setbacks in advanced  clinical  trials,  even after
obtaining  promising  earlier  trial  results.  Data  obtained  from  tests  are
susceptible  to  varying  interpretations,  which may  delay,  limit or  prevent
regulatory approval.  Those associated risks and others are further described in
the Company's filings with the Securities and Exchange Commission  including the
most recent reports on Forms 10-K, 10-Q and 8-K, and any amendments thereto.

  COMPANY CONTACTS:

  John G. Cooper, EVP and CFO
  Kori Beer, IR & Communications
  215-340-4699



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