SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Belldegrun Arie

(Last)

(First)

(Middle)

UCLA SCHOOL OF MEDICINE, 10833 LE CONTE

66-118 CHS BOX 951738

(Street)

LOS ANGELES

90095-1738

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Cougar Biotechnology, Inc. [ CGRB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
05/08/2007

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $.0001 par value								13,324	I	By Trust⁽¹⁾
Common Stock, $.0001 par value								20,103	I	By Trust⁽²⁾
Common Stock, $.0001 par value	05/08/2007		P		7,100	A	$21.1	40,964	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Series A Convertible Preferred Stock	⁽³⁾							04/03/2006	03/09/2016	Common Stock, $.0001 par value	99,913		99,913	I	By Trust⁽¹⁾
Series A Convertible Preferred Stock	⁽³⁾							04/03/2006	03/09/2016	Common Stock, $.0001 par value	150,755		150,755	I	By Trust⁽²⁾
Warrant	$8.28							06/30/2005	06/30/2010	Common Stock, $.0001 par value	35,699		35,699	I	By Trust⁽²⁾
Stock Options (right to buy)	$0.3905							04/03/2006	01/01/2014	Common Stock, $.0001 par value	153,644		153,644	D
Stock Options (right to buy)	$4.8163							04/03/2006	02/27/2016	Common Stock, $.0001 par value	90,650		90,650	D
Stock Options (right to buy)	$4.5039							04/03/2006	03/09/2016	Common Stock, $.0001 par value	161,326		161,326	D
Stock Options (right to buy)	$4.5							⁽⁴⁾	06/28/2016	Common Stock, $.0001 par value	30,000		30,000	D
Stock Options (right to buy)⁽⁵⁾	$4.5							⁽⁶⁾	09/06/2016	Common Stock, $.0001 par value	200,000		200,000	D
Stock Options (right to buy)	$2.6							12/29/2006	08/24/2014	Common Stock, $.0001 par value	38,411		38,411	D

Explanation of Responses:

1. Held by a trust of which the Reporting Person is a beneficiary.

2. Held by a Trust for the benefit of the Reporting Person's children, of which the Reporting Person's spouse is the Trustee.

3. The Series A Convertible Preferred Stock ("Series A") is convertible on a one-for-one basis with no additional consideration. However, pursuant to the Issuer's Certificate of Designation, the Reporting Person can convert the Series A only in the event or to the extent that such conversion would not cause the reporting Person to beneficially hold in excess of 9.99%.

4. 10,000 shares vest on each of 6/28/07, 6/28/08 and 6/28/09.

5. Pursuant to Rule 16b-3.

6. Options vest as follows: 66,667 shares each on 9/6/07 and 9/6/08; and 66,666 shares on 9/6/09.

	/s/ Arie Belldegrun	05/08/2007
	** 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 4 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.