-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NbJqQbq2HL9jMa0stEdjLw6dwkDQvUDkh9I1vJ36li2QRHxd7X+/aqn4+ENWVfyp
 b3b+8d9Bf+1fR1X3yoFd/Q==

<SEC-DOCUMENT>0001181431-04-059222.txt : 20041216
<SEC-HEADER>0001181431-04-059222.hdr.sgml : 20041216
<ACCEPTANCE-DATETIME>20041216143934
ACCESSION NUMBER:		0001181431-04-059222
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040525
FILED AS OF DATE:		20041216
DATE AS OF CHANGE:		20041216

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COLLAGENEX PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0001012270
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				521758016
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		41 UNIVERSITY DRIVE
		CITY:			NEWTON
		STATE:			PA
		ZIP:			18940
		BUSINESS PHONE:		2155797388

	MAIL ADDRESS:	
		STREET 1:		41 UNIVERSITY DRIVE
		CITY:			NEWTON
		STATE:			PA
		ZIP:			18940

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DAVERMAN JAMES E
		CENTRAL INDEX KEY:			0001033489

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28308
		FILM NUMBER:		041207777

	BUSINESS ADDRESS:	
		STREET 1:		500 CORPORATE CENTRE
		STREET 2:		520 LAKE COOK ROAD SUITE 450
		CITY:			DEERFIELD
		STATE:			IL
		ZIP:			60015
		BUSINESS PHONE:		215-579-7388

	MAIL ADDRESS:	
		STREET 1:		C/O COLLAGENEX PHARMACEUTICALS, INC
		STREET 2:		41 UNIVERSITY DRIVE, SUITE 200
		CITY:			NEWTOWN
		STATE:			PA
		ZIP:			18940
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>rrd61480.xml
<DESCRIPTION>FORM 4/A
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2004-05-25</periodOfReport>

    <dateOfOriginalSubmission>2004-06-23</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001012270</issuerCik>
        <issuerName>COLLAGENEX PHARMACEUTICALS INC</issuerName>
        <issuerTradingSymbol>CGPI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001033489</rptOwnerCik>
            <rptOwnerName>DAVERMAN JAMES E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O COLLAGENEX PHARMACEUTICALS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>41 UNIVERSITY DRIVE, SUITE 200</rptOwnerStreet2>
            <rptOwnerCity>NEWTOWN</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>18940</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Options to Purchase Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>10.05</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-05-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>18000</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-05-25</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-05-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>18000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>67236</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">This Amendment is being filed to correct the transaction date which was inadvertently reported as 5/25/2005.</footnote>
        <footnote id="F2">Represents options granted by the Issuer pursuant to its 1996 Stock Option Plan on May 25, 2004. Subject to certain criteria, such options vest as follows: 4,500 shares subject to such options vest on May 25, 2005, 4,500 shares subject to such options vest on May 25, 2006, 4,500 shares subject to such options vest on May 25, 2007 and 4,500 shares subject to such options vest on May 25, 2008.</footnote>
        <footnote id="F3">Includes multiple option grants with different prices and vesting dates.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Frank Ruffo for James E. Daverman by Power of Attorney</signatureName>
        <signatureDate>2004-12-16</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----