SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* McGowan Kathleen A (Last) (First) (Middle) 2600 KELLY ROAD (Street) WARRINGTON PA 18976 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 03/11/2005	3. Issuer Name and Ticker or Trading Symbol DISCOVERY LABORATORIES INC /DE/ [ DSCO ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Controller	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock(1)	221	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Incentive Stock Option (right to buy)(2)	08/12/2004	08/12/2014	Common Stock	8,605	6.47	D
Incentive Stock Option (right to buy)(3)	06/07/2005	06/07/2014	Common Stock	25,000	10.6	D
Non-Qualified Stock Option (right to buy)(2)	12/12/2005	08/12/2014	Common Stock	1,395	6.47	D

Explanation of Responses:

1. Transaction reported on Table I represents Issuer's matching stock contribution pursuant to 401(k) plan.

2. This employee stock option shall vest 25% on the date of the grant, and the balance shall vest in a series of successive equal monthly installments over the next 36 months.

3. This employee stock option shall vest in a series of three successive equal annual installments beginning with the first year anniversary of the grant.

	Kathleen A. McGowan	03/18/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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