----

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**UNITED      STATES SECURITIES AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**FORM      10-QSB**

**For      the Quarterly Period Ended September 30, 2007**

**DOR      BIOPHARMA, INC.**

| **DELAWARE**                                                                   |                                                                  | **41-1505029**                                         |
|--------------------------------------------------------------------------------|-----------------------------------------------------------------------|--------------------------------------------------------|
| (State                or other jurisdiction of incorporation or organization)  |                                                                  | (I.R.S.                Employer Identification Number) |
|                                                                           |                                                                  |                                                   |
| **850                Bear Tavern Road, Suite 201****Ewing,                NJ** |                                                                  | **08628**                                              |
| (Address                of principal executive offices)                        |                                                                  | (Zip                Code)                              |
|                                                                           | **(609)                538-8200**                                     |                                                   |
|                                                                           | (Issuer’s                telephone number, including area code) |                                                   |

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**Table      of Contents**

| **Item**                                                                                                         | **Description**                                                     | **Page**                                                                                                                     |
|------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                             |                                                                |                                                                                                                         |
| **Part                I**                                                                                        | **FINANCIAL                INFORMATION**                            |                                                                                                                         |
| 1.                                                                                                               | Financial                Statements.                                | 3                                                                                                                            |
| 2.                                                                                                               | Management’s                Discussion and Analysis.          | 12                                                                                                                           |
| 3.                                                                                                               | Controls                and Procedures.                             | 20                                                                                                                           |
|                                                                                                             |                                                                |                                                                                                                         |
| **Part                II**                                                                                       | **OTHER                INFORMATION**                                |                                                                                                                         |
| 4.                                                                                                               | Submission                of Matters to a Vote of Security Holders. | 21                                                                                                                           |
|                              6.  | Exhibits.                                                      |                                 21 |

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**PART      I. - FINANCIAL INFORMATION**

**ITEM      1 - **
**FINANCIAL      STATEMENTS**

|                                                                                                 |   |        |   |   |   |
|------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|
|                                                                                                 |   |   |        |   |   |   |   |
| **Assets**Current                  assets:                                                           |   |   |   |   |   |   |   |
| Cash                  and cash equivalents                                                           |   |        |   |   | **$**  | **2,544,784** |   |
| Grants                  receivable                                                                   |   |   |   |   |   | **173,634** |   |
| Prepaid                  expenses                                                                    |   |   |   |   |   | **147,650** |   |
| Total                  current assets                                                                |   |   |   |   |   | **2,866,068** |   |
|                                                                                                 |   |   |   |   |   |   |   |
| Office                  and laboratory equipment, net                                           |   |   |   |   |   | **30,701** |   |
| Intangible                  assets, net                                                              |   |   |   |        |   | **1,292,342** |   |
| Total                  assets                                                                        |   |   |   |   | $      | **4,189,111** |   |
|                                                                                                 |   |   |   |   |   |   |   |
| **Liabilities                  and shareholders’ equity**Current                  liabilities: |   |   |   |   |   |   |   |
| Accounts                  payable                                                                    |   |   |   |   | $      | **1,046,636** |   |
| Accrued                  compensation                                                                |   |   |   |   |   | **133,305** |   |
| Total                  current liabilities                                                           |   |   |   |   |   | **1,179,941** |   |
|  Shareholders’                  equity:                                                   |   |   |   |   |   |   |   |
| Common                  stock, $.001 par value. Authorized 250,000,000                               |   |   |   |   |   |   |   |
| shares;                  92,997,331 issued and outstanding                                           |   |   |   |   |   | **92,997** |   |
| Additional                  paid-in capital                                                          |   |   |   |   |   | **100,614,098** |   |
| Accumulated                  deficit                                                                 |   |   |   |   |   | **(97,697,925** | **)** |
| Total                  shareholders’ equity                                                    |   |   |   |   |   | **3,009,170** |   |
| Total                  liabilities and shareholders’ equity                                    |   |   |   |   | $      | **4,189,111** |   |

|                                                                                           |   | **2007** |                          |  2006 |   |
|------------------------------------------------------------------------------------------------|--------|----------|-------------------------------|------------|--------|
|                                                                                           |   |     |                               |       |   |   |   |
|                                                                                           |   |     |                          |       |   |   |   |
| Revenues:                                                                                      |   | **$**    | **429,445**                   |       | $      | 117,982 |   |
| Cost                    of revenues                                                            |   |     | **(301,672**                  | **)**      |   | (70,147 | ) |
| Gross                    profit                                                                |   |     | **127,773**                   |       |   | 47,835 |   |
|                                                                                           |   |     |                          |       |   |   |   |
| Operating                    expenses:                                                         |   |     |                          |       |   |   |   |
| Research                    and development                                                    |   |     | **601,668**                   |       |   | 761,276 |   |
|                             General and administrative |   |     | **783,208**                   |       |   | 660,085 |   |
| Total                    operating expenses                                                    |   |     | **1,384,876**                 |       |   | 1,421,361 |   |
|                                                                                           |   |     |                          |       |   |   |   |
| Loss                    from operations                                                        |   |     | **(1,257,103**                | **)**      |   | (1,373,526 | ) |
|                                                                                           |   |     |                          |       |   |   |   |
| Other                    income (expense):                                                     |   |     |                          |       |   |   |   |
| Interest income                                                                           |   |     | **10,121**                    |       |   | 10,104 |   |
| Interest                    expense                                                            |   |     | **-**                         |       |   | (2,106 | ) |
| Total                    other income (expense)                                                |   |     | **10,121**                    |       |   | 7,998 |   |
|                                                                                           |   |     |                          |       |   |   |   |
| Net                    loss                                                               |   | $        | **(1,246,982**                | **)**      | $      | (1,365,528 | ) |
|                                                                                           |   |     |                          |       |   |   |   |
| Basic                    and diluted net loss per share                                   |   | $        | **(                    0.01** | **)**      | $      | (                    0.02 | ) |
|                                                                                           |   |     |                          |       |   |   |   |
| Basic                    and diluted weighted average common shares outstanding                |   |     | **92,938,838**                |       |   | 68,533,689 |   |

|                                                                                                                                                                             |   | **2007** |                              |  2006 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|-----------------------------------|------------|--------|
|                                                                                                                                                                             |   |     |                                   |       |   |   |   |
|                                                                                                                                                                             |   |     |                              |       |   |   |   |
| Revenues:                                                                                                                                                                        |   | **$**    | **943,737**                       |       | $      | 1,644,393 |   |
| Cost                        of revenues                                                                                                                                          |   |     | **(669,882**                      | **)**      |   | (1,198,403 | ) |
| Gross                        profit                                                                                                                                              |   |     | **273,855**                       |       |   | 445,990 |   |
|                                                                                                                                                                             |   |     |                              |       |   |   |   |
| Operating                        expenses:                                                                                                                                       |   |     |                              |       |   |   |   |
| Research                        and development                                                                                                                                  |   |     | **2,611,220**                     |       |   | 3,821,255 |   |
|                                       Purchased                        in-process research and development |   |     | **- **                       |       |   | 981,819 |   |
|                                 General and administrative                                                                               |   |     | **2,772,525**                     |       |   | 2,099,608 |   |
| Total                        operating expenses                                                                                                                                  |   |     | **5,383,745**                     |       |   | 6,902,682 |   |
|                                                                                                                                                                             |   |     |                              |       |   |   |   |
| Loss                        from operations                                                                                                                                      |   |     | **(5,109,890**                    | **)**      |   | (6,456,692 | ) |
|                                                                                                                                                                             |   |     |                              |       |   |   |   |
| Other                        income (expense):                                                                                                                                   |   |     |                              |       |   |   |   |
| Interest income                                                                                                                                                             |   |     | **144,062**                       |       |   | 39,282 |   |
| Interest                        expense                                                                                                                                          |   |     | **(1,020**                        | **)**      |   | (2,106 | ) |
| Total                        other income (expense)                                                                                                                              |   |     | **143,042**                       |       |   | 37,176 |   |
|                                                                                                                                                                             |   |     |                              |       |   |   |   |
| Net                        loss                                                                                                                                             |   | $        | **(4,966,848**                    | **)**      | $      | (6,419,516 | ) |
|                                                                                                                                                                             |   |     |                              |       |   |   |   |
| Basic                        and diluted net loss per share                                                                                                                 |   | $        | **(                        0.06** | **)**      | $      | (                        0.10 | ) |
|                                                                                                                                                                             |   |     |                              |       |   |   |   |
| Basic                        and diluted weighted average common shares outstanding                                                                                              |   |     | **89,389,416**                    |       |   | 62,062,667 |   |

|                                                                                                                                                                     |   | **2007** |           |  2006  |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|----------------|-------------|--------|
|                                                                                                                                                                     |   |     |                |        |   |   |   |
| **Operating                  activities:**                                                                                                                               |   |     |           |        |   |   |   |
| Net                  loss                                                                                                                                                |   | **$**    | **(4,966,848** | **)**       | $      | (6,419,516 | ) |
| Adjustments                  to reconcile net loss to net cash used by operating                  activities:                                                            |   |     |           |        |   |   |   |
| Amortization                  and depreciation                                                                                                                           |   |     | **84,475**     |        |   | 148,913 |   |
|                            Non-cash                stock compensation                                        |   |     | **1,201,306**  |        |   | 655,552 |   |
|                                Non-cash stock purchase of in-process research and development |   |     | **- **    |        |   | 981,819 |   |
|                                Impairment expense for intangibles                             |   |     | **- **    |        |   | 816,300 |   |
| Change                  in operating assets and liabilities:                                                                                                             |   |     |           |        |   |   |   |
| Grants                  receivable                                                                                                                                       |   |     | **(83,701**    | )           |   | 156,766 |   |
| Prepaid                  expenses                                                                                                                                        |   |     | **(53,180**    | **) ** |   | 41,926 |   |
|                              Accounts                  payable                      |   |     | **(1,064,096** | **)**  |   | 77,545 |   |
|                              Accrued                  royalties                                                   |   |     | **-**          |        |   | (60,000 | )  |
| Accrued                  compensation                                                                                                                                    |   |     | **(271,389**   | **)**       |   | (48,535 | ) |
|                       Total adjustments                                                                                                              |   |     | **(186,585**   | **)**  |   | 2,770,286 |   |
| Net                  cash used by operating activities                                                                                                                   |   |     | **(5,153,433** | **)**       |   | (3,649,230 | ) |
|                                                                                                                                                                     |   |     |           |        |   |   |   |
| **Investing                  activities:**                                                                                                                               |   |     |           |        |   |   |   |
| Acquisition                  of intangible assets                                                                                                                        |   |     | **(294,404**   | **)**       |   | (228,668 | ) |
| Purchases                  of equipment                                                                                                                                  |   |     | **(10,182**    | **)**       |   | (2,552 | ) |
| Net                  cash used by investing activities                                                                                                                   |   |     | **(304,586**   | **)**       |   | (231,220 | ) |

| **Financing                  activities:**                                                                                                    |   |   |          |   |   |      |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------------|--------|--------|-----------|--------|
|  Net                  proceeds from sale of common stock                                                                                 |   |   | **6,235,404** |   |   | 3,535,029 |   |
|                               Proceeds                  from exercise of warrants |   |   | **1,530,763** |   |   | -    |   |
|  Proceeds                  from exercise of stock options                                                                                |   |   | **117,000**   |   |   | 113,320   |   |
| Net                  cash provided by financing activities                                                                                    |   |   | **7,883,167** |   |   | 3,648,349 |   |
|                                                                                                                                          |   |   |          |   |   |      |   |
| Net                  increase (decrease) in cash and cash equivalents                                                                         |   |   | **2,425,148** |   |   | (232,101  | )      |
| Cash                  and cash equivalents at beginning of period                                                                             |   |   | **119,636**   |   |   | 821,702   |   |
| Cash                  and cash equivalents at end of period                                                                                   |   | **$**  | **2,544,784** |   | $      | 589,601   |   |

| **Non-cash                  transactions:**                                                                                                          |   |   |      |   |   |    |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|--------|--------|---------|--------|
|                            Non-cash                stock payment to an institutional investor |   | **$**  | **-**     |   | $      | 220,374 |   |
|             Cash                  paid for interest                                      |   | **$**  | **1,020** |   | $      | -       |   |

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**DOR        BioPharma, Inc.**

**Notes        to Consolidated Financial Statements**

**1.**
**Nature          of Business**

**®**

**2.**
**Summary                of Significant Accounting Policies**

**Basis                of Presentation**

**Cash                  and Cash Equivalents**

**Grants                  Receivable**

**Intangible                  Assets**

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**Impairment                  of Long-Lived Assets**

**Stock                  Based Compensation**

**Net                  Loss Per Share**

**3.                  Management’s Plan**

| ·   | The                            Company is exploring outlicensing opportunities for orBec®                            both in the                            US and Europe and for its BioDefense                            programs. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                            Company has engaged RBC Capital Markets as its advisor                            in exploring                            mergers and acquisitions and the various opportunities                            presented. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                            Company plans to continue seeking grant funds from governmental                            sources.                            In September 2006, the Company received two grants totaling                            approximately                            $5,500,000 to support the development of its BioDefense                            vaccine programs.                            An additional $1 million grant from the Orphan Products                            division of the                            FDA was awarded in September 2007 to its academic collaborators                            at the                            University of Texas Southwestern Medical Center to fund                            a supplemental                            trial of ricin vaccine (RiVax™) to support its ricin toxin vaccine                            program. Additionally, the Company’s development partner, the Fred                            Hutchinson Cancer Research Center, has received NIH grants                            that support                            the preclinical and clinical development of orBec®/Oral                            BDP for                            the treatment of radiation injury and the prevention                            of                            GVHD. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                            Company believes that its current cash position will                            allow it to operate                            over the next 12 months. If there were no other sources                            of financing,                            reductions or discontinuation of operations of several                            of the Company’s                            programs may be required. If this should occur, the Company                            believes it                            could continue to operate over the next four quarters                            at a reduced level                            and continue with its existing grant                            projects. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**4.                  Intangible Assets**

|                                                                                                                               | **Weighted                      Average Amortization****period                      (years)** |   **Cost**             |  **Accumulated****Amortization** |   **Net                      Book Value** |
|------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------|----------------------------------|---------------------------------------|-----------------------------------------------------|
|                                      September 30, 2007 | 10.0                                                                                          | $                      2,033,794 | $                      714,452        | $                      1,292,342                    |
| December                      31, 2006                                                                                             | 10.1                                                                                          | $                      1,739,391 | $                      666,152        | $                      1,073,239                    |

|   | **Amortization                      Amount** |
|--------|----------------------------------------------|
| 2007   | $                      105,000               |
| 2008   |                         105,000    |
| 2009   |                         105,000    |
| 2010   |                         105,000    |
| 2011   |                         105,000    |

**5.              Grants Receivable**

**6**
**.                  Shareholders’ Equity**

----

**7.                  Contingencies**

**8.                  Business Segments**

|                                                     |   | **For                the three months ended September 30,**                                    |
|----------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------|
|                                                     |   | ** ****2007**                                                                                  |   |   |  2006 |   |
| **Revenues**                                             |   |                                                                                                |   |   |   |   |
| BioDefense                                               |   | **$                          429,445**            |   |   | $                                71,881 |   |
| BioTherapeutics                                          |   | **-**                                                                                               |   |   | 46,101 |   |
| **Total**                                                |   | **$                          429,445**            |   |   | $                              117,982 |   |
|                                                     |   |                                                                                                |   |   |   |   |
| **Income                (Loss) from Operations**         |   |                                                                                                |   |   |   |   |
| BioDefense                                               |   | **$                            25,676**                |   |   | $                              (99,395 | ) |
| BioTherapeutics                                          |   | **(581,363**                                                                                        | **)** |   | (624,952 | ) |
| Corporate                                                |   | **(701,416**                                                                                        | **)** |   | (649,179 | ) |
| **Total**                                                |   | **$                     (1,257,103**                                       | **)** |   | $                         (1,373,526 | ) |
|                                                     |   |                                                                                                |   |   |   |   |
| **Amortization                and Depreciation Expense** |   |                                                                                                |   |   |   |   |
| BioDefense                                               |   | **$                            31,062**      |   |   | $                                              38,001 |   |
| BioTherapeutics                                          |   | **3,462**                                                                                           |   |   | 9,001 |   |
| Corporate                                                |   | **1,525**                                                                                           |   |   | 2,002 |   |
| **Total**                                                |   | **$                            36,049** |   |   | $                                              49,004 |   |
|                                                     |   |                                                                                                |   |   |   |   |
| **Identifiable                Assets**                   |   |                                                                                                |   |   |   |   |
| BioDefense                                               |   | **$                         984,287**                  |   |   | $                          1,140,106 |   |
| BioTherapeutics                                          |   | **511,690**                                                                                         |   |   | 377,812 |   |
| Corporate                                                |   | **2,693,135**                                                                                       |   |   | 689,838 |   |
| **Total**                                                |   | **$                      4,189,111**                                  |   |   | $                         2,207,756 |   |

|                                                         |   | **For                    the nine months ended September 30,**                                     |
|--------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------|
|                                                         |   | ** ****2007**                                                                                      |   |   |  2006 |   |
| **Revenues**                                                 |   |                                                                                                    |   |   |   |   |
| BioDefense                                                   |   | **$                              943,737**            |   |   | $                               1,506,092 |   |
| BioTherapeutics                                              |   | **-**                                                                                                   |   |   | 138,301 |   |
| **Total**                                                    |   | **$                              943,737**            |   |   | $                               1,644,393 |   |
|                                                         |   |                                                                                                    |   |   |   |   |
| **Income                    (Loss) from Operations**         |   |                                                                                                    |   |   |   |   |
| BioDefense                                                   |   | **$                               (51,010**      | ) |   | $           (1,907,899 | ) |
| BioTherapeutics                                              |   | **(2,276,555**                                                                                          | **)** |   | (3,468,298 | ) |
| Corporate                                                    |   | **(2,782,325**                                                                                          | **)** |   | (1,080,495 | ) |
| **Total**                                                    |   | **$                         (5,109,890**                                       | **)** |   | $                             (6,456,692 | ) |
|                                                         |   |                                                                                                    |   |   |   |   |
| **Amortization                    and Depreciation Expense** |   |                                                                                                    |   |   |   |   |
| BioDefense                                                   |   | **$                                68,293**      |   |   | $                                   112,477 |   |
| BioTherapeutics                                              |   | **11,593**                                                                                              |   |   | 29,478 |   |
| Corporate                                                    |   | **4,587**                                                                                               |   |   | 6,955 |   |
| **Total**                                                    |   | **$                                84,473** |   |   | $                                                      148,910 |   |

----

**ITEM        2 - **
**MANAGEMENT’SDISCUSSION        AND        ANALYSIS**

* The          following discussion and analysis provides information to explain our results          of          operations and financial condition. You should also read our unaudited          consolidated interim financial statements and their notes included in this          Form          10-QSB, and the our audited consolidated financial statements and their          notes          and other information included in our Annual Report on Form 10-KSB for          the year          ended December 31, 2006. This report contains forward-looking statements          within          the meaning of Section 21E of the Securities Exchange Act of 1934, as amended,          which are subject to the safe-harbor created by that Section. Forward-looking          statements within this Form 10-QSB are identified by words such as “believes,”“anticipates,” “expects,” “intends,” “may,” “will” “plans” and other similar*
*expression,*
* however*
*, these words are not the          exclusive means of identifying such statements. In addition, any statements          that          refer to expectations projections or other characterizations of future          events or          circumstances are forward-looking statements. These forward-looking statements          are subject to significant risks, uncertainties and other factors, including          those identified in Exhibit 99.1 “Risk Factors” filed with this Form 10-QSB,          which may cause actual results to differ materially from those expressed          in, or          implied by, these forward-looking statements. *
*Except as expressly          required by the federal securities laws*
*, we*
* undertake no          obligation to publicly update or revise any forward-looking statements          to          reflect events*
* or*
*,*
* circumstances *
*or          developments *
*occurring subsequent to the filing of this Form 10-QSB          with the SE*
*C *
*or for any other reason and you should not place          undue reliance on these forward-looking statements. *
*You should          carefully review and consider the various disclosures the Company makes          in this          report and our other reports filed with the SEC that attempt to advise          interested parties of the risks, uncertainties and other factors that may          affect          our business.*

**Overview:**

**Business        Overview and Strategy **

**®**

----

***orBec®***

**®**

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**RiVax™**

*Proceedings of the National Academy of Sciences*

 BARDA manages Project        BioShield to        procure countermeasures and vaccines and is the agency now responsible for        advanced development of medical countermeasures for chemical, biological,        radiological, and nuclear agents. The purpose of BARDA is to take over where        NIH        has left off in the transition from research and development to advanced        development and clinical testing. In addition, BARDA is responsible for        establishing priorities for civilian biodefense. The company expects to continue        to respond to requests for proposals (“RFP”) that may arise within BARDA and        other branches of the government.

----

**BT-VACC™**

*Clostridium botulinum*

*Infection and Immunity*

----

*LPMTM -        Leuprolide*

*OraprineTM *

*LPETM        and PLPTM Systems        for        Delivery of Water-Insoluble Drugs*

----

**Critical        Accounting Policies**

**Intangible        Assets**

**Research        and Development Costs**

**Revenue        Recognition**

----

**Material        Changes in Results of Operations**

----

**Financial        Condition**

***Cash        and Working Capital***

***Expenditures***

|                                                                  | **2007**                                                                                                             | **2006**                                                            |
|-----------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------|
| ***Projects-Research                    & Development Expenses*** |                                                                                                                 |                                                                |
| orBec®                                                           | $     1,999,563                                                                             | $     3,333,783                            |
| RiVax™                                                          | 317,390                                                                                                              | 247,637                                                             |
| BT-VACC™                                                        | 256,914                                                                                                              | 229,335                                                             |
| Oraprine™                                                       | 5,100                                                                                                                | 5,100                                                               |
| LPMTM-Leuprolide                                                      | 32,254                                                                                                               | 5,400                                                               |
|   Research                    & Development Expense     | $     2,611,220                                                                             | $     3,821,255                            |
|                                                                  |                                                                                                                 |                                                                |
| *Projects-Reimbursed                    under Grants*                 |                                                                                                                 |                                                                |
| orBec®                                                           | $                   - | $          46,099 |
| RiVax™                                                          | 636,979                                                                                                              | 1,152,304                                                           |
| BT-VACC™                                                        | 32,903                                                                                                               | -                                                                   |
| Oraprine™                                                       | -                                                                                                                    | -                                                                   |
| LPMTM-Leuprolide                                                      | -                                                                                                                    | -                                                                   |
|   Reimbursed                    under Grant                 | $        669,882                                                             | $    1,198,403                                  |
|                                                                  |                                                                                                                 |                                                                |
| TOTAL                                                                 | $    3,281,102                                                                                   | $    5,019,658                                  |

***Leases***

| **Contractual                  Obligation**    | **Year****2007**                | **Year****2008**              | **Year****2009**         |
|------------------------------------------------|---------------------------------|-------------------------------|--------------------------|
| Non-cancelable                  obligation (1) | $    18,000 | $  54,000           | -                        |
| **TOTALS**                                     | **$   18,000**   | **$                  54,000** | **$   -** |

| (1)   | On                  October 1, 2007, we signed a one year lease to occupy office space                  in                  Ewing, New Jersey. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------|

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**ITEM        3 -_CONTROLS AND PROCEDURES**

----

**PART        II - OTHER INFORMATION.**

**ITEM        4 -   SUBMISSION OF MATTERS TO A VOTE OF SECURITY        HOLDERS**

|   | (a) | The                  Annual Meeting of the Company’s stockholders was held on September 27,                  2007. Of the 92,930,574 shares of outstanding common stock on the                  record                  date of August 7, 2007, a total of 74,133,166 shares were represented                  in                  person or by proxy. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)                                | The                  following directors were re-elected effective September 27,                  2007: |
|-----------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|

|                                           |   | **Votes                  Cast** |
|------------------------------------------------|--------|---------------------------------|
|                                           |   | **For**                         | **Against** |
|                                           |   |                            |   |
| James                  S. Kuo, M.D.            |   | 70,624,423                      | 3,508,743 |
| Christopher                  J. Schaber, Ph.D. |   | 70,624,073                      | 3,509,093 |
| Evan                  Myrianthopoulos          |   | 70,626,837                      | 3,506,329 |
| Cyrille                  F. Buhrman            |   | 71,622,921                      | 2,510,245 |

|   | (c) | (i) | The                  vote to approve the grant of discretionary authority to the board                  of                  directors for a 24 month period (a) to amend the Company’s Amended and                  Restated Certificate of Incorporation to change the name of the                  Company or                  (b) to determine not to proceed with the name change was: 68,490,910                  for,                  5,480,152 against and 162,101                  abstain. |
|--------|-----|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | The                    vote to approve the grant of discretionary authority to the board                    of                    directors for a 24 month period (a) to amend the Company’s Certificate of                    Incorporation to effect a reverse stock split of the Company’s common                    stock at a ratio within the range from 1-4-2 to 1-4-10, determine                    the                    effective of the reverse stock split, and to proportionately                    reduce the                    number of shares of the Company’s common stock authorized for issuance or                    (b) to determine not to proceed with the reverse stock split                    and                    proportionate reduction of the number shares of the Company’s common stock                    authorized for issuance was: 61,377,624 for, 11,745,856 against                    and                    1,009,683 abstain. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | The                  vote to amend the Company’s 2005 Equity Incentive Plan to increase the                  maximum number of shares of the Company’s common stock available for                  issuance under the plan by 10,000,000 shares, bringing the total                  shares                  reserved for issuance under the plan to 20,000,000 was: 14,076,714                  for,                  6,311,175 against and 1,106,046 abstain. On this proposal there                  where                  52,639,231 broker held non-votes. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | The                  vote to approve Sweeney Gates & Co. as the Company’s independent                  auditors for the year ending December 31, 2007 was: 73,124,310                  for,                  802,611 against and 206,245                  abstain. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**ITEM        6 - EXHIBITS**

|   | 31.1 | Certification                  of Chief Executive Officer pursuant to Exchange Act rule 13(a)-14(a)                  (under Section 302 of the Sarbanes-Oxley Act of                  2002). |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 31.2 | Certification                  of Principal Financial Officer pursuant to Exchange Act rule                  13(a)-14(a) (under Section 302 of the Sarbanes-Oxley Act of                  2002). |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.1 | Certification                of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley                Act of 2002 |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------|
|   | 32.2  | Certification                of Principal Financial Officer pursuant to Section 906 of the                Sarbanes-Oxley Act of 2002 |
|--------|------------|--------------------------------------------------------------------------------------------------------------------------------------|
|   | 99.1 | Risk                  Factors |
|--------|------|-------------------------------|

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**SIGNATURES**

**DOR        BIOPHARMA, INC.**

| November                  14, 2007 | by:    | /s/                  Christopher J. Schaber                                           |
|------------------------------------|--------|---------------------------------------------------------------------------------------|
|                               |   | Christopher                  J. Schaber, Ph.D.                                        |
|                               |   | President                  and Chief Executive Officer                                |
|                               |   | (Principal                  Executive Officer)                                        |
|                               |   |                                                                                  |
|                               |   |                                                                                  |
| November                  14, 2007 | by:    | /s/                  Evan Myrianthopoulos                                             |
|                               |   | Evan                  Myrianthopoulos                                                 |
|                               |   | Chief                  Financial Officer                                              |
|                               |   | (Principal                  Financial Officer and Principal Accounting Officer)  |

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