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):

                                  July 29, 2002

                               Aphton Corporation
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             (Exact name of registrant as specified in its charter)



          Delaware                       0-19122               95-3640931
----------------------------   -----------------------   ----------------------
State or Other Jurisdiction    (Commission File Number)    (I.R.S. Employer
   of Incorporation)                                      Identification Number)

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              80 SW Eighth Street, Suite 2160, Miami, Florida 33130
               (Address of principal executive offices) (zip code)

                                 (305) 374-7338
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              (Registrant's telephone number, including area code)


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          (Former name or former address, if changed since last report)



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Item 9.  Regulation FD Disclosure

     In its S-3 filing of July 8,  2002,  Aphton  Corporation  noted that it has
concluded  a phase II  clinical  trial  with G17DT  which  showed,  among  other
findings,  the  reduction  of  post-prandial  (post-meal)  levels of  gastrin to
pre-meal levels of gastrin, in patients immunized with G17DT.  Furthermore,  for
patients also treated with the proton-pump  inhibitor (PPI) drug omeprazole,  we
showed the  reduction of the  many-fold  increase in gastrin  levels  induced by
omeprazole,  a  condition  known as  hypergastrinemia,  to  pre-meal  levels  of
gastrin.

     We  have  been  preparing  to  file  an  Investigational   New  Drug  (IND)
application to examine, among other endpoints,  whether G17DT may be efficacious
in providing  symptomatic  relief to patients  suffering  from  gastroesophageal
reflux  disease (or GERD).  The  preparation  of an IND for a drug that could be
administered  to millions of patients  each year  entails  resources  and effort
which Aphton has made in recent months and is now completing.  Aphton expects to
file an IND for GERD in the United States and Europe in the coming weeks.

     Gastroesophageal reflux disease is a clinical disorder characterized by the
retrograde  flow of  gastric  contents  across an  incompetent  gastroesophageal
junction into the esophagus. The most common symptom of GERD is heartburn.  GERD
is the most  common  gastrointestinal  pathology.  In the United  States  alone,
industry  sources  have  estimated  that 21  million  people,  or over 7% of the
population, suffer from GERD. About 40% of the adults in the USA experience GERD
at least once a month (most frequently  heartburn).  In the EU, the incidence of
GERD is comparable  to that in the USA. In Asia,  in  particular  in Japan,  the
prevalence of GERD is approaching that of Western nations.

     The most  commonly  used  therapies  for the treatment of GERD are based on
reducing  acid   secretion,   thereby   reducing  the  damaging  effect  of  the
gastroesophageal  refluxate.  PPIs such as Prilosec  and  Prevacid are among the
most widely used drugs.  Industry  sources  have  estimated  that the  worldwide
market for medications to treat for GERD was approximately $ 14 billion in 2001.
Episodes  of GERD occur most  frequently  after a meal and are  associated  with
postprandial acid secretion. While some patients have excess acid production, it
is not the quantity of acid  produced  but rather the quantity  that reaches the
esophageal mucosa and frequency with which that occurs that result in damage and
symptoms.  PPIs, while generally effective,  treat the symptoms of GERD, not the
underlying  physiological  mechanisms.  The fundamental  underlying mechanism of
GERD  is  now  widely  accepted  to  be  Transient  Lower  Esophageal  Sphincter
Relaxations  (TLESRs)  occurring in  conjunction  with acid reflux.  PPIs do not
address TLESRs,  the neuromuscular  component of GERD. As a result,  PPIs do not
provide complete  efficacy,  as approximately  40% to 50% of the patients do not
achieve  symptomatic  relief,  which is the  principal  reason for their seeking
medical help. Further,  relapses often occur,  especially due to lack of patient
compliance   with  the  therapy  by  those  who  do  feel  relief.   GERD  is  a
symptom-driven disorder.

     Human data has been obtained that postprandial levels of gastrin 17 provoke
approximately a three hundred percent  increase in episodes of TLESRs  occurring
in conjunction with gastroesophageal  reflux (GER). Given gastrin 17's effect of
increased  episodes  of TLESRs with GER,  Aphton  believes  that a reduction  of
gastrin 17 should  also lead to a reduction  of these  episodes,  in  particular
postprandially  (i.e.,  following a meal); thereby the fundamental cause of


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GERD symptoms and the ensuing acid (and bile) increase should be reduced, rather
than the acid only, as in the case of PPIs .

     Based  on  this  dual  mechanism  of  action,   Aphton  believes  that  its
anti-gastrin immunotherapy should be effective in treatment of GERD, either as a
stand-alone product or in conjunction with PPIs.

     In this  connection,  Aphton notes that in his recent  testimony before the
FDA's Advisory Board on  Gastrointestinal  Drugs,  its Chairman,  Dr. M. Michael
Wolfe,  Professor of Medicine at Boston  University School of Medicine and Chief
of the Section of  Gastroenterology  at Boston  University,  noted that  "...the
fastest growing cancer is adenocarcinoma  of the esophagus,  and it's precursor,
Barrett's Esophagus...." He concluded, based in part on the studies he presented
showing  the   presence  of   functional   gastrin   receptors   in   esophageal
adenocarcinomas:  "...this  raises the possibility  hypergastrinemia  associated
with  proton  pump  inhibitor   therapy  may  stimulate  the   proliferation  of
preexisting esophageal adenocarcinoma...."

     In light of this information, Aphton believes that there is a pressing need
in the treatment of GERD  patients for its  anti-gastrin  immunotherapy,  either
alone or in conjunction with PPIs.


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                                    SIGNATURE

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



                                    APHTON CORPORATION
                                    (Registrant)

                                    By:/s/ Philip C. Gevas
                                       -----------------------------------------
                                       Name:  Philip C. Gevas
                                       Title: Chairman of the Board,
                                              Chief Executive Officer and
                                              President


Dated: July 29, 2002







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