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

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-06-11</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001066833</issuerCik>
        <issuerName>DOV PHARMACEUTICAL INC</issuerName>
        <issuerTradingSymbol>DOVP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000919185</rptOwnerCik>
            <rptOwnerName>HIGHBRIDGE CAPITAL MANAGEMENT LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9 WEST 57TH STREET</rptOwnerStreet1>
            <rptOwnerStreet2>27TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001308315</rptOwnerCik>
            <rptOwnerName>Highbridge International LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P.O. BOX 30554</rptOwnerStreet1>
            <rptOwnerStreet2>SEVEN MILE BEACH</rptOwnerStreet2>
            <rptOwnerCity>GEORGE TOWN, GRAND CAYMAN</rptOwnerCity>
            <rptOwnerState>E9</rptOwnerState>
            <rptOwnerZipCode>00000</rptOwnerZipCode>
            <rptOwnerStateDescription>CAYMAN ISLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001308597</rptOwnerCik>
            <rptOwnerName>Dubin Glenn</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O HIGHBRIDGE CAPITAL MANAGEMENT, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>9 WEST 57TH STREET, 27TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001308598</rptOwnerCik>
            <rptOwnerName>Swieca Henry</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O HIGHBRIDGE CAPITAL MANAGEMENT, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>9 WEST 57TH STREET, 27TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common stock, $0.0001 par value per share (&quot;Common Stock&quot;)</value>
            </securityTitle>
            <transactionDate>
                <value>2007-06-11</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>13295418</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13295418</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Series C Convertible Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-06-11</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>13295418</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2007-05-11</value>
            </exerciseDate>
            <expirationDate>
                <value>2007-06-11</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Shares of Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>13295418</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F5"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>I</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The Series C Convertible Preferred Stock were convertible into shares of Common Stock at a conversion rate of 191.02612143
 shares of common stock for one share of Series C Convertible Preferred Stock and were automatically converted to common
 stock on June 11, 2007.</footnote>
        <footnote id="F2">All of the 13,295,418 shares of Common Stock are held by Highbridge International LLC.</footnote>
        <footnote id="F3">Highbridge Capital Management, LLC is the trading manager of Highbridge International LLC.  Glenn Dubin is a Co-Chief
 Executive Officer of Highbridge Capital Management, LLC.  Henry Swieca is a Co-Chief Executive Officer of Highbridge Capital
 Management, LLC.  Each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock to the extent
 such beneficial ownership exceeds such Reporting Person's pecuniary interest.</footnote>
        <footnote id="F4">The Series C Convertible Preferred Stock were acquired in an exchange pursuant to which Highbridge International LLC
 exchanged $8,700,000  of principal amount of 2.50% Convertible Subordinated Debentures Due 2025 (the &quot;Notes&quot;) for 69,600
 shares of Series C Convertible Preferred Stock and $1,740,000. The Notes were acquired between October 17, 2005 and May 5,
 2006 for a consideration of $7,093,465.</footnote>
        <footnote id="F5">The Series C Convertible Preferred Stock were held by Highbridge International LLC.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>HIGHBRIDGE CAPITAL MANAGEMENT, LLC, /s/ Carolyn Rubin</signatureName>
        <signatureDate>2007-06-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
