<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2006-05-02</periodOfReport>

    <dateOfOriginalSubmission>2006-05-05</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000765258</issuerCik>
        <issuerName>IMCLONE SYSTEMS INC</issuerName>
        <issuerTradingSymbol>IMCL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001361754</rptOwnerCik>
            <rptOwnerName>Denner Alexander J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O VIKING GLOBAL PERFORMANCE LLC</rptOwnerStreet1>
            <rptOwnerStreet2>55 RAILROAD AVENUE</rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001132625</rptOwnerCik>
            <rptOwnerName>VIKING GLOBAL PERFORMANCE LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O VIKING GLOBAL PERFORMANCE LLC</rptOwnerStreet1>
            <rptOwnerStreet2>55 RAILROAD AVENUE</rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>35.48</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-05-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3315</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2006-07-18</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2016-05-01</value>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3315</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <valueOwnedFollowingTransaction>
                    <value>23315</value>
                </valueOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>35.48</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-05-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2006-10-18</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2016-05-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <valueOwnedFollowingTransaction>
                    <value>28315</value>
                </valueOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The options reported in this Form 4 are owned directly by Mr. Denner.</footnote>
        <footnote id="F2">The fifth and sixth line items from the Form 4 originally filed on May 5, 2006 are hereby amended to reflect the correct date
 the Stock Options (Right to Buy) are exercisable.</footnote>
        <footnote id="F3">The fifth line item from the Form 4 originally filed on May 5, 2006 is hereby amended to reflect the correct expiration date
of the Stock Option (Right to Buy).</footnote>
    </footnotes>

    <remarks>In addition to being a Director to the Company, Alexander J. Denner (&quot;Mr. Denner&quot;) also serves as a portfolio manager for
 Viking Global Performance LLC (&quot;VGP&quot;) which acts as (i) the general partner of Viking Global Equities LP, a Delaware limited
 partnership (&quot;VGE&quot;), and (ii) investment manager to VGE III Portfolio Ltd., a Cayman Islands company (&quot;VGE III&quot;).  As
 general partner and investment manager, respectively,  VGP has the power to dispose of and vote the shares of Common Stock
 directly owned by VGE and VGE III.   O. Andreas Halvorsen and David C. Ott are the managing members of VGP.</remarks>

    <ownerSignature>
        <signatureName>/s/ Alexander J. Denner</signatureName>
        <signatureDate>2006-05-08</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ O. Andreas Halvorsen</signatureName>
        <signatureDate>2006-05-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
