	Filed Pursuant to Rule 424(b)(3)
	File No. 333-125083
PROSPECTUS SUPPLEMENT NO. 1
(To Prospectus Dated February 8, 2006)

Hana Biosciences, Inc.

8,304,009 Shares

Common Stock

The information contained in this prospectus supplement amends and updates our prospectus dated February 8, 2006 (the “Prospectus”), and should be read in conjunction therewith. Please keep this Prospectus Supplement with your Prospectus for future reference.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

The date of this Prospectus Supplement is March 24, 2006

SELLING STOCKHOLDERS

The following table sets forth the number of shares of the common stock owned by the selling stockholders as of January 20, 2006, and after giving effect to this offering. The information in the table included under the heading “Selling Stockholders” in the Prospectus is superceded by the information appearing in the following table.

Selling Stockholder	Shares beneficially owned before offering			Number of outstanding shares offered by selling stockholder		Number of shares offered by selling stockholder issuable upon conversion of outstanding warrants		Percentage beneficial ownership after offering

Shares Issued Upon Conversion of Series A Preferred Stock
Atlas Equity I, Ltd.		1,641,183	(1)		1,060,223		0		*
McLaughlin III Limited Partnership(a)		84,604			84,604		0		--
William R. HeLaughlin and Thomas C. Csatari, as co-trustees for David T. McLaughlin GST Non-Exempt Trust B		21,109			21,109		0		--
Arjun Gupta		70,503			70,503		0		--
Coqui Capital Partners, LP		1,096,040	(2)		168,871		0		*
Isaac Kier		1,096,040	(2)		42,217		0		*
JIJ Investments		1,096,040	(2)		42,217		0		*
Pearl Kier, as ttee under Revocable Trust FBO Pearl Kier		10,576			10,576		0		--
ETP/FBR Venture Capital II, LLC (b)		278,458			278,458		0		--
Waterspout Investments Pte Ltd.		23,200	(3)		6,333		0		--
Matador Investments Pte Ltd.		23,220	(3)		12,665		0		--
Ramsay Investment PTE LTD		23,220	(3)		4,222		0		--
Millenium Partners, L.P. (c)		360,000			360,000		0		--
Shelia A Tomei and Thaddeus R. Tomei		1,410			1,410		0		--
Springvest Corporation (d)		116,483			116,483		0		--
Subtotal					2,279,891		0

Shares Issued in February 2004 Private Placement
Alfred Abraham	5,936	5,936	0	--
Sandra D. Anderson	29,685	29,685	0	--
Balanced Investment LLC (e)	20,000	20,000	0	--
Beck Family Partners, L.P. (f)	29,685	29,685	0	--
Ivette & Isaac Dabah 2002 Trust	29,685	29,685	0	--
Ytzhak Dankner	14,842	14,842	0	--
Edmund A. Debler	14,842	14,842	0	--
Domeco Venture Capital Fund (g)	5,000	5,000	0	--

S-2

Selling Stockholder	Shares beneficially owned before offering		Number of outstanding shares offered by selling stockholder	Number of shares offered by selling stockholder issuable upon conversion of outstanding warrants	Percentage beneficial ownership after offering
Isaac R. Dweck	10,871		10,871	0	--
Robert I. Falk	14,842		14,842	0	--
Far Ventures (h)	7,421		7,421	0	--
Fiserv Securities Inc. A/C/F Ronald M. Lazar IRA	14,842		14,842	0	--
Fiserv Securities Inc. A/C/F Anthony G. Polak IRA	14,842		14,842	0	--
Gittis Family Foundation	59,372		59,372	0	--
Jacob Gottlieb	1,383,463	(1)	59,371	0	*
Arjun Gupta	218,930		148,427	0	--
Neil Herskowitz	7,000		7,000	0	--
Jewish Communal Fund	14,806		14,806	0	--
Peter Kash	172,176		59,371	0	*
Ivan Kaufman Grantor Retained Annuity Trust	29,685		29,685	0	--
Bonnie B. Kazam	9,686		9,686	0	--
Dr. Daniel Kessel	14,842		14,842	0	--
Lawrence & Shirley Kessel	14,842		14,842	0	--
Howard Kessler	14,842		14,842	0	--
Kier Family L.P.	1,096,040	(2)	118,742	0	*
Ralph Kier	14,842		14,842	0	--
Robert Klein & Myriam Gluck JTRS	14,842		14,842	0	--
Steven Koffman	14,842		14,842	0	--
Larich Associates (i)	14,842		14,842	0	--
Adam S. Leeds, Successor Trustee FBO Bertha Leeds U/A/D 1/23/81	14,842		14,842	0	--
Bruce H. Lipnick	9,842		9,842	0	--
Steve Lisi	14,842		14,842	0	--
J. Jay Lobell	87,979		74,213	0	--
William R. McLaughlin	14,101		14,101	0	--
Michael A. Mullen	14,806		14,806	0	--
Susan and Harry Newton JTWROS	15,000		15,000	0	--
Premero Investments Ltd. (j)	14,842		14,842	0	--
Mark H. Rachesky	29,686		29,686	0	--
Riverside Contracting LLC (k)	3,342		3,342	0	--
Lyon Roth	14,842		14,842	0	--

S-3

Selling Stockholder	Shares beneficially owned before offering	Number of outstanding shares offered by selling stockholder	Number of shares offered by selling stockholder issuable upon exercise of outstanding warrants	Percentage beneficial ownership after offering
Howard Schain	14,842	14,842	0	--
Kellie Seringer	14,842	14,842	0	--
South Ferry #2 L.P.(l)	3,600	3,600	0	--
Speisman Family 2000 Ltd. Partnership(m)	14,842	14,842	0	--
Edward L. Steinberg	14,842	14,842	0	--
Gary J. Strauss	38,414	34,527	0	--
Joseph J. Vale	29,685	29,685	0	--
Hillel Weinberger	15,000	15,000	0	--
David Wilstein & Susan Wilstein, ttees of the Century Trust dtd 12/19/94	14,842	14,842	0	--
David Wilstein & Susan Wilstein, ttees of the Denise Wilstein Trust dtd 12/19/94	14,842	14,842	0	--
Subtotal		1,215,069

Miscellaneous Outstanding Common Shares
Chase Financing, Inc. (n)	172,371	172,371	0	--
Turqoiuse Partners, LLC (o)	41,371	41,371	0	--
Subtotal		213,742	0

Shares Issued in April 2005 Private Placement
Mark J. Ahn	684,269	(4)	19,531	5,859	2.7
Shaun I. Anderson-Ahn	684,269	(4)	19,531	5,859	2.7
Atlas Equity I, Ltd.	1,641,183	(1)	390,625	117,187	*
Daniel A. Bachtle	12,000		6,000	6,000	—
Bear Stearns Securities Inc. FBO Charles D. Kleinow	50,780		39,062	11,718	—
Bear Stearns Securities Inc. FBO OXA Trade & Finance, Inc.(p)	1,066,402		351,562	105,468	—
Bear Stearns Securities Inc. FBO PAM Investments Ltd. (p)	1,066,402		39,062	11,718	—
Bioscience Ventures II (q)	198,905		140,312	58,593	—
Boersenmedien AG (r)	660,155		507,812	152,343	—
Bernard S. Carrey	2,342		0	2,343	—
James L. Conway	10,155		7,812	2,343	—
Coqui Capital Partners LP	1,096,040	(2)	156,250	46,875	*
DB Securities Inc. CUST FBO Mai N. Pogue, R - IRA (p)	1,066,402		156,250	46,875	—
DB Securities Inc. CUST FBO Susan K. Rho, R - IRA	50,780		39,062	11,718	—
David A Dent	5,859		0	5,859	—
David S. Hannes	5,859		0	5,859	—

S-4

Selling Stockholder	Shares beneficially owned before offering			Number of outstanding shares offered by selling stockholder		Number of shares offered by selling stockholder issuable upon exercise of outstanding warrants		Percentage beneficial ownership after offering
Philip Isaacson		50,780			39,062		11,718		—
Investment Strategies Fund LP (s)		195,100			147,100		48,000		—
JIJ Investments		1,096,040	(2)		78,125		23,437		*
Richard J. Kasten		26,000			20,000		6,000		—
Isaac Kier		1,096,040	(2)		19,531		5,859		*
Ralph Kier		55,074			19,531		5,859		*
Larry Kopp		92,562			69,125		23,437		—
Steven A. and Marina Kriegsman		101,562			78,125		23,437		—
Ranjan Lal		380,858			19,531		5,859		—
Lance, Malvin & Partners, Inc. (t)		36,718			25,000		11,718		—
Mosaix Ventures LP (u)		380,858			273,437		82,031		—
Sandra F. Pessin		260,000			200,000		60,000		—
Pogue Capital Management Money Purchase Plan FBO Mai N Pogue (p)		1,066,402			39,062		11,718		—
Pogue World Fund Ltd. (p)		1,066,402			234,375		70,312		—
Ben and Sophie Reuben		50,780			39,062		11,718		—
Domenico Schinella		50,780			39,062		11,718		—
Sterling Securities Int. Ltd. (v)		60,406			0		60,406		—
Fred L. Vitale		231,661	(5)		23,437		7,031		*
Boris Volman		11,718			0		11,718		—
Mark Zizzamia		32,802			0		32,802		—
Salvatore Saraceno		32,801			0		32,801		—
Friendly Capital LLC - Defined Benefit Plan		146,062			0		146,082		—
Paramount BioCapital, Inc.		812,371	(6)		0		58,593		3.8
Subtotal					3,236,436		1,358,871

Totals					6,945,138		1,358,871

_____________

* represents less than 1%.

(a)	C. Jay McLaughlin is president of the general partner of McLaughlin Limited Partnership and has voting and dispositive control over the shares held by such selling stockholder.

(b)	Mel Craw and Maxi Brezzi hold voting and/or dispositive control over the shares held by the selling stockholder.

(c)	Edmund Debler holds voting and dispositive control over the shares held by Millenium Partners, L.P.

(d)	Bruce Hsiang holds voting and/or dispositive control over the shares held by the selling stockholder.

(e)	Alonso B. Diaz is investment adviser and holds voting and dispositive control over the shares held by Balanced Investments LLC.

(f)	Ronald Beck is the general partner of Beck Family Partners, L.P. and voting and dispositive control over the shares held by the limited partnership.

(g)	Jack Polak is the general partner of Domeco Venture Capital Fund and voting and dispositive control over the shares held by the selling stockholder.

(h)	Steven M. Farber and S. Edmund Farber are partners of Far Ventures, a general partnership.

(i)	Lawrence R. Gross is a partner of Larish Associates and holds voting and dispositive control over the shares held by the selling shareholder.

(j)	Yair Green is managing director of Premero Investments Ltd and holds voting and dispositive control over the shares held by the selling shareholder.

(k)	Neil Herskowitz holds voting and dispositive control over the shares held by the selling shareholder.

(l)	Aaron Wolfson holds voting and dispositive control over the shares held by the selling shareholder.

(m)	Aaron Speisman holds voting and/or dispositive control over the shares held by the selling stockholder.

(n)	Robert Herskowitz holds voting and dispositive control over the shares held by the selling stockholder. The selling stockholder is not affiliated with or related to JP Morgan Chase Bank or its affiliates.

(o)	Arnold P. Kling holds voting and dispositive control over the shares held by the selling stockholder.

(p)	Mai N. Pogue has voting and investment control over the shares held by the selling stockholder.

(q)	Wei Wu He has voting and investment control over the shares held by the selling stockholder.

S-5

(r)	Achim Lindner has voting and investment control over the shares held by the selling stockholder.

(s)	Matthew Shefler has voting and investment control over the shares held by the selling stockholder.

(t)	Camille Froidevallx has voting and investment control over the shares held by the selling stockholder.

(u)	Ranjan Lal has voting and/or investment control over the shares held by the selling stockholder.

(v)	Chris Bonvini shares voting and investment control over the shares held by Sterling Securities Int’l.

_______________________

(1)	Represents (i) 1,581,812 shares held by Atlas Equity I Ltd., including 117,187 shares issuable upon the exercise of outstanding warrants, and (ii) 59,371 shares held by Jacob Gotlieb. Mr. Gotlieb and Dmitry Balyasny share voting and investment power over the shares held by Atlas Equity I, Ltd.

(2)

Represents (i) 719,369 shares held by Coqui Capital Partners, LP, of which 57,768 are issuable upon the exercise of outstanding warrants, (ii) 144,885 shares held by Kier Family Partners, LP, of which 4,357 are issuable upon the exercise of outstanding warrants, (iii) 143,779 shares held by JIJ Investments, of which 23,437 are issuable upon the exercise of outstanding warrants, and (iv) 88,007 shares held by Isaac Kier, of which 15,259 are issuable upon the exercise of outstanding options and warrants. Mr. Kier is a director of our company and is general partner of both Coqui Capital Partners and Kier Family Partners, and is a partner in JIJ Investments, a partnership.

(3)

Each of the selling stockholders are affiliates of Coutts Trustees (Switzerland) SA. The total shares beneficially held by each of the foregoing selling stockholders includes the shares held in the name of such related entities. Katherine Litau-Kutch holds voting and/or dispositive control over the shares held by these selling stockholders.

(4)

Shaun I. Anderson-Ahn is the spouse of Mark J. Ahn, our President and CEO. The shares beneficially owned prior to this offering include (i) 34,425 shares held by Ms. Anderson-Ahn, of which 6,948 shares are issuable upon the exercise of warrants, and (ii) 619,127 shares issuable upon the exercise of outstanding options and warrants held by Dr. Ahn.

(5)	Includes 156,752 shares issuable upon the exercise of outstanding options and warrants. Mr. Vitale is our Vice President, Chief Business Officer.

(6)	Includes 753,779 shares held by Dr. Lindsay A. Rosenwald, of which 121,076 are issuable upon the exercise of an outstanding warrant. Dr. Rosenwald is the Chairman and CEO of Paramount BioCapital, Inc.

S-6