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Filed
pursuant to Rule 424(b)(3)
relating
to Registration Statement No. 333-107836
DISCOVERY
LABORATORIES, INC.
SUPPLEMENT
DATED APRIL 7, 2006
TO
PROSPECTUS DATED AUGUST 8, 2003
This
Supplement should be read in conjunction with the Preliminary Prospectus, dated
August 8, 2003, contained in Registration Statement No. 333-107836 (the
“Registration Statement”) of Discovery Laboratories, Inc., as amended and
supplemented by (i) the Pre-Effective Amendment No. 1 to the Registration
Statement filed with the Securities and Exchange Commission (the “Commission”)
on August 21, 2003, including the Preliminary Prospectus, dated August 20,
2003,
contained therein, and including the exhibits thereto, (ii) the Prospectus
Supplement, dated April 16, 2004, filed with the Commission on April 16, 2004,
(iii) the Prospectus Supplement, dated May 9, 2005, filed with the Commission
on
May 9, 2005, (iv) the Prospectus Supplement, dated February 17, 2006, filed
with
the Commission on February 17, 2006 and (v) the Prospectus Supplement, dated
March 21, 2006, filed with the Commission on March 21, 2006.
Sargon
Capital International Fund Ltd. has assigned its Class A Investor Warrant to
purchase 18,579 shares of our common stock to SDS Capital Group SPC, Ltd.
Accordingly, the Selling Stockholder table contained in the Prospectus, as
amended and supplemented, is further amended, as set forth below, by (i)
deleting the entry for Sargon Capital International Fund Ltd. and (ii) adding
an
entry for SDS Capital Group SPC, Ltd.
Our
common stock, par value $.001 per share, is listed on the Nasdaq National Market
under the symbol “DSCO”. On April 6, 2006, the closing sale price for the common
stock, as reported on the Nasdaq National Market, was $4.63.
Neither
the Commission nor any state securities commission has approved or disapproved
of these securities or determined if this prospectus supplement is truthful
or
complete. Any representation to the contrary is a criminal offense.
The
information appearing in the following table supplements or supersedes in part
the information in the table under the heading “Selling Stockholders” in the
Preliminary Prospectus, dated August 20, 2003, as amended and
supplemented.
SELLING
STOCKHOLDERS
|
Name
|
Number
of
Shares
of
common
stock,
not
including
Warrants,
Beneficially
Owned
|
Number
of
Shares
represented
by
Warrants
Beneficially
Owned
|
Total
Number
of
Shares
of
common
stock
Beneficially
Owned
+
|
Percentage
Beneficially
Owned
Before
Offering
|
Number
of
Shares
to be
Offered
for
the
Account
of
Selling
Stockholders
|
Number
of
Shares
to
be
Owned
after
this
Offering
|
Percentage
to
be
Beneficially
Owned
After
this
Offering
|
|
SDS
Capital
Group
SPC, Ltd.
|
0
|
18,579
|
18,579
|
—
|
18,579
|
0
|
*
|
------------------------
*
Less
than 1%.
+
The
information contained in this table reflects “beneficial” ownership of common
stock within the meaning of Rule 13d-3 under the Securities Exchange Act of
1934. Beneficial ownership information reflected in the table includes shares
of
common stock issuable upon the exercise of outstanding warrants.
Please
keep this supplement with your Prospectus.
2