8-K

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


                                    FORM 8-K


                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

       Date of Report (Date of earliest event reported) SEPTEMBER 13, 2004
                              (SEPTEMBER 13, 2004)


                          ENCYSIVE PHARMACEUTICALS INC.
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             (Exact name of registrant as specified in its charter)



          DELAWARE                  0-20117                  13-3532643
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(State or other jurisdiction      (Commission              (IRS Employer
      of incorporation)           File Number)           Identification No.)


                6700 WEST LOOP, 4TH FLOOR, BELLAIRE, TEXAS 77401
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               (Address of principal executive offices) (Zip Code)

        Registrant's telephone number, including area code (713) 796-8822

                                 NOT APPLICABLE
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         (Former name or former address, if changed since last report.)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))



ITEM 8.01 OTHER EVENTS.

         On September 13, 2004, Encysive Pharmaceuticals Inc. (the "Company")
issued a press release announcing the closing of the previously announced
offering of 4,000,000 shares of its common stock in an underwritten offering by
Wachovia Capital Markets, LLC ("Wachovia"). At the closing, Wachovia also
purchased an additional 600,000 shares of common stock pursuant to its
previously exercised over-allotment option. The shares of common stock were sold
to the public for $7.94 per share.

         The press release is filed as an exhibit hereto and is incorporated
herein by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(a) Financial statements of businesses acquired.

         None

(b) Pro forma financial information.

         None

(c) Exhibits.

         99.1     Press Release



                            [SIGNATURE PAGE FOLLOWS]












                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                               ENCYSIVE PHARMACEUTICALS INC.


Date September 13, 2004                           /s/ Stephen L. Mueller
                                                      Stephen L. Mueller
                                                 Vice President, Finance and
                                          Administration Secretary and Treasurer





                                 EXHIBIT INDEX



        Exhibit
        Number          Description
        -------         -----------

         99.1           Press Release

EX-99.1

                                                                    EXHIBIT 99.1



Investors:                                               Media:
Ann Tanabe                                               Daniel Budwick
Encysive Pharmaceuticals                                 BMC Communications
(713) 796-8822                                           (212) 477-9007 ext. 14

Hershel Berry
The Trout Group
(415) 392-3385


FOR IMMEDIATE RELEASE


   ENCYSIVE PHARMACEUTICALS ANNOUNCES CLOSING OF $36.5 MILLION STOCK OFFERING


HOUSTON, TX - (SEPTEMBER 13, 2004) - Encysive Pharmaceuticals (NASDAQ: ENCY)
announced today the closing of its previously announced offering of 4,000,000
shares of its common stock in an underwritten offering by Wachovia Capital
Markets, LLC. At the closing, Wachovia also purchased an additional 600,000
shares of common stock pursuant to its previously exercised over allotment
option. The shares of common stock were sold to the public for $7.94 per share.
With the exercise of the over allotment option, the gross proceeds from the
offering realized by Encysive is approximately $36.5 million.

The net proceeds of the offering will be used for further clinical development,
marketing and pre-launch activities related to Thelin(TM), research and
development of Encysive's other product candidates, and general corporate
purposes, including capital expenditures and other working capital requirements.

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of any such
jurisdiction. Copies of the prospectus supplement can be obtained from the
Prospectus Department of Wachovia Securities (7 Saint Paul Street, 1st Floor,
Baltimore, MD 21202, phone 443-263-6400) or from Encysive (6700 West Loop, 4th
Floor, Bellaire, TX 77401, phone 713-796-8822).

ABOUT ENCYSIVE PHARMACEUTICALS

Encysive Pharmaceuticals Inc., a biopharmaceutical company focused on the
discovery, development and commercialization of novel drugs, is recognized for
our expertise in small molecule drug development and vascular biology.
Argatroban, our first FDA-approved product, is being marketed by GlaxoSmithKline
for heparin-induced thrombocytopenia. Encysive Pharmaceuticals is in Phase III
development of the endothelin antagonist, Thelin, for pulmonary arterial
hypertension. Our majority-owned affiliate, Revotar Biopharmaceuticals AG, is in
Phase II development with the selectin antagonist bimosiamose in asthma,
psoriasis and atopic dermatitis. Encysive Pharmaceuticals has several other
research and development programs ongoing for a range of cardiovascular and
inflammatory diseases. To learn more about Encysive Pharmaceuticals please visit
our web site: www.encysive.com.

This press release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking statements
are subject to certain risks, trends and uncertainties that could cause actual
results to differ materially from those projected. Among those risks, trends and
uncertainties are timing and cost of our clinical trials, attainment of research
and clinical goals and milestones of product candidates, attainment of required
government approvals, sales levels of our products and availability of financing
and revenues sufficient to fund development of product candidates and
operations. In particular, careful consideration should be given to cautionary
statements made in the various reports Encysive Pharmaceuticals, including as
Texas Biotechnology Corporation, has filed with the Securities and Exchange
Commission. The Company undertakes no duty to update or revise these
forward-looking statements.

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