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

                                   FORM 10-QSB

(MARK ONE)

[ X ]    QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
         ACT OF 1934

                  For the quarterly period ended March 31, 2005
                                                 --------------

[   ]    TRANSITION REPORT UNDER SECTION 13 OR A5(d) OF THE SECURITIES EXCHANGE
         ACT OF 1934
<TABLE>
<CAPTION>
<S>                                                                             <C>
                                           Commission file number 0-23544

                                           HUMAN PHEROMONE SCIENCES, INC.
                                   -----------------------------------------------
                                   (Name of small business issuer in its charter)

                      California                                                            94-3107202
--------------------------------------------------------------                  ------------------------------------
(State or other jurisdiction of incorporation or organization)                  (I.R.S. employee Identification No.)


      84 West Santa Clara Street, San Jose, California                                         95113
--------------------------------------------------------------                  ------------------------------------
         (Address of principal executive offices)                                            (Zip code)
</TABLE>


                    Issuer's telephone number: (408) 938-3030
                                               --------------


                                 Not applicable
          -------------------------------------------------------------
          (Former name or former address, if changed since last report)


         Check whether the Issuer (1) filed all reports  required to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or for such
shorter period that the  registrant was required to file such reports),  and (2)
has been subject to such filing  requirements for the past 90 days.
Yes [ X ] No [ ]

         State the number of shares  outstanding of each of the issuer's classes
of common equity, as of the latest practicable date:  4,151,954 shares of Common
Stock as of April 29, 2005.



                                       1
<PAGE>
<TABLE>

                                           HUMAN PHEROMONE SCIENCES, INC.

                                                        INDEX
<CAPTION>
                                                                                                                                Page
                                                                                                                                ----
<S>                                                                                                                              <C>
PART I
FINANCIAL INFORMATION

         Item 1. Financial Statements

                  Balance Sheets as of March 31, 2005 (Unaudited) and December 31, 2004 .......................................    3

                  Statements of Operations (Unaudited) for the Three Months Ended
                  March 31, 2005 and 2004 .....................................................................................    4

                  Statements of Cash Flows (Unaudited) for the Three Months Ended
                  March 31, 2005 and 2004  .....................................................................................   5

                  Notes to Financial Statements (Unaudited)  ...................................................................   6

         Item 2. Management's Discussion and Analysis

                  Management's Discussion and Analysis of Financial Conditions and Results of Operations ......................    7

         Item 3. Controls and Procedures  .....................................................................................   11

PART II
OTHER INFORMATION

         Item 6. Exhibits .....................................................................................................   12

SIGNATURES ....................................................................................................................   13
</TABLE>

                                       2
<PAGE>

                                     PART I
                              FINANCIAL INFORMATION

Item 1.  Financial Statements
<TABLE>
                                                         Human Pheromone Sciences, Inc.
                                                                 Balance Sheets
<CAPTION>

                                                                                                         March 31,      December 31,
(in thousands except share data)                                                                           2005            2004
------------------------------------------------------------------------------------------------         --------        --------
                                                                                                       (unaudited)
<S>                                                                                                      <C>             <C>
Assets

Current assets:
  Cash and cash equivalents                                                                              $  1,095        $  1,201
  Accounts receivable, net of allowances of $5,000 at each date                                                72             259
  Inventories, net                                                                                             68              63
  Other current assets                                                                                         34               8
                                                                                                         --------        --------
Total current assets                                                                                        1,269           1,531

Property and equipment, net                                                                                    15              17
                                                                                                         --------        --------

                                                                                                         $  1,284        $  1,548
                                                                                                         ========        ========

Liabilities, Convertible Redeemable
Preferred Stock and Shareholders' Equity
Current liabilities:
 Accounts payable                                                                                        $     75        $     41
 Accrued professional fees                                                                                     44              58
 Accrued employee benefits                                                                                     37              35
 Accrued sales returns                                                                                         40              40
 Accrued income tax                                                                                             2               3
 Other accrued expenses                                                                                        14              18
                                                                                                         --------        --------
    Total current liabilities                                                                                 212             195
                                                                                                         --------        --------

    Total liabilities
                                                                                                              212             195

Commitments and Contingencies

Shareholders' equity:
  Common stock, no par value, 13,333,333 shares authorized,
     4,151,954 shares issued and outstanding at each date                                                  20,809          20,809
  Accumulated deficit                                                                                     (19,737)        (19,456)
                                                                                                         --------        --------
Total shareholders' equity                                                                                  1,072           1,353
                                                                                                         --------        --------
                                                                                                         $  1,284        $  1,548
                                                                                                         ========        ========

<FN>
See accompanying notes to financial statements.
</FN>
</TABLE>
                                       3
<PAGE>

                         Human Pheromone Sciences, Inc.
                             Statement of Operations
                                   (unaudited)



                                                    Three months ended March 31,
                                                    ----------------------------
(in thousands except per share data)                    2005             2004
---------------------------------------------------   -------          -------

Net revenue                                           $   126          $   259
Cost of goods sold                                         41               40
                                                      -------          -------

Gross profit                                               85              219
                                                      -------          -------

Operating expenses:
    Research and development                               46                9
    Selling, general and administrative                   326              301
                                                      -------          -------

Total operating expenses                                  372              310
                                                      -------          -------

Loss from operations                                     (287)             (91)


Other income (expense):
    Interest income, net                                    6                3
    Other (expense)                                       --               --
                                                      -------          -------
Total other income                                          6                3
                                                      -------          -------

Net loss
                                                      $  (281)         $   (88)
                                                      =======          =======

Net income (loss) per common share-
  basic and fully diluted                             $ (0.07)         $ (0.02)
                                                      =======          =======


Weighted average common shares outstanding -
  basic and fully diluted                               4,152            4,105
                                                      =======          =======


See accompanying notes to financial statements.

                                       4
<PAGE>
                         Human Pheromone Sciences, Inc.
                            Statements of Cash Flows
                                   (unaudited)


                                                    Three months ended March 31,
                                                    ----------------------------
(in thousands)                                          2005          2004
----------------------------------------------------  -------       ---------


Cash flows from operating activities
Net loss                                             $  (281)      $    (88)

Adjustments  to  reconcile  net loss to net cash
 provided or used by operating
 activities:
  Depreciation and amortization
                                                            2              1
  Changes in operating assets and liabilities:
    Accounts receivable                                   187            (94)
    Inventories                                            (5)             2
    Other current assets                                  (25)           (24)
    Accounts payable and accrued liabilities               16             (4)
                                                      -------       --------
Net cash used in operating activities                    (106)          (207)

Net cash provided by operations of assets sold           --               (2)


Cash flows provided (used) in investing activities
Acquisition of property and equipment                    --               (6)
                                                      -------       --------
Net cash used in investing activities                    --               (6)

Cash flows used in financing activities                  --               --
                                                      -------       --------
Net cash used in financing                               --               --
                                                      -------       --------

Net increase (decrease) in cash and cash equivalents     (106)          (215)
Cash and cash equivalents at beginning of period        1,201          1,950
                                                      -------       --------
Cash and cash equivalents at end of period            $ 1,095       $  1,735
                                                      =======       ========


See accompanying notes to financial statements.

                                       5
<PAGE>

                         Human Pheromone Sciences, Inc.
                          Notes to Financial Statements
                                   (unaudited)
                                 March 31, 2005


1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization and Nature of Operations

         Human Pheromone Sciences,  Inc. (the "Company") was incorporated in the
State of  California  in 1989 under the name of EROX  Corporation.  The  Company
changed the name to Human Pheromone  Sciences,  Inc. in May 1998. The Company is
engaged in the research, development, manufacturing and marketing of synthesized
human pheromones and consumer products containing  synthetic human pheromones as
a component.  The Company  initiated  commercial  operations in late 1994 with a
line of fine fragrances and toiletries.  In April 2000, the Company licensed the
sale of its REALM(R)  fragrance  products and in April 2003 the Company sold the
REALM and innerREALM(R) brands and trademarks to Niche Marketing Group, Inc. The
Company's  strategic  focus is now on  expanding  the  market  for its  existing
patented pheromones to other consumer product and fragrance companies and to the
development of its internally developed brand of pheromone-based  products under
the Natural  Attraction(R)  brand,  and mood based  products  under the licensed
Demeter Natural  Attraction label. The Company will seek to add to this group of
products new,  patented  compounds that might be developed  through the research
efforts that the Company is now directly managing.

Basis of Presentation

         The accompanying  unaudited financial  statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America for interim  financial  information  and with the  instructions  to Form
10-QSB and Item 310(b) of Regulation S-B.  Accordingly,  they do not include all
of the information  and footnotes  required by accounting  principles  generally
accepted in the United States of America for complete financial  statements.  In
the opinion of  management,  all  adjustments  (consisting  of normal  recurring
accruals)  considered  necessary  for a fair  presentation  have been  included.
Operating  results for the three months ended March 31, 2005 are not necessarily
indicative  of the results  that may be expected  for the  calendar  year ending
December 31, 2005. For further  information,  refer to the financial  statements
and footnotes thereto included in the Company's annual report on Form 10-KSB for
the year ended December 31, 2004.

Revenue Recognition

         Revenue  is  recorded  at the  time  of  merchandise  shipment,  net of
provisions for returns.  The Company records  revenues from sales,  initiated by
sales agents,  net of the sales commissions  earned following the interpretative
guidance  provided  by FASB  Emerging  Issue Task Force  (EITF)  EITF No.  99-19
Reporting Revenue Gross as a Principal versus Net as an Agent.  License fees are
earned over the license period  according to the terms of the license  agreement
and interpretative  guidance provided by Staff Accounting Bulletin (SAB) No. 101
and No.  104.  The  majority  of the  Company's  sales are to  distributors  and
licensees,  and  these  distributors  and  licensees  have no  right  to  return
products.

Inventories

         Inventories  are  stated  at the  lower of cost  (first  in - first out
method) or market. A summary of inventories follows (in thousands):


                                                       March 31,    December 31,
                                                         2005          2004
                                                         ----          ----
         Components (raw materials)                       $61           $62
         Finished goods                                    24            18
         Reserve for shrinkage and obsolescence           (17)          (17)
                                                          ---           ---
                                                          $68           $63
                                                          ===           ===


                                       6
<PAGE>

Earnings (Loss) Per Share

         The Company follows the provisions of SFAS No. 128, Earnings Per Share.
SFAS No. 128 provides for the calculation of "Basic" and "Diluted"  earnings per
share.  Basic earnings  (loss) per share is computed using the  weighted-average
number  of common  shares  outstanding.  Diluted  earnings  (loss)  per share is
computed using the weighted-average  number of common shares and dilutive common
shares  outstanding during the period. For the three months ended March 31, 2005
and 2004,  options  to  purchase  140,000  and  70,000  shares of common  stock,
respectively,  were excluded from the computation of diluted  earnings per share
since their effect would be antidilutive.

As of March 31, 2005 and 2004,  the  unaudited  components  of basic and diluted
earnings per share are as follows (all amounts are in thousands):

                                                                2005      2004
                                                              -------   -------

Net income (loss) available to common shareholders            $  (281)  $   (88)
                                                              =======   =======


Weighted-average common shares outstanding during the period    4,152     4,105
                                                              =======   =======

Capital Stock and Stock Options

         During  the  three  months  ended  March 31,  2005 no  common  stock or
preferred stock was issued.  During the quarter, no stock options under the 2003
Non-Employee  Directors  Stock Option Plan were granted,  no issued options were
exercised and no stock options expired under the initial Non-Employee  Directors
Stock Option Plan.


2.    SEGMENT INFORMATION

         Revenues by  geographic  markets for the three  months  ended March 31,
2005 and 2004 were as follows:

                                               Three months ending
                                                     March 31,
                                               --------------------
                                               2005            2004
                                               ----            ----
           Markets:
            U.S. Markets                       $ 47            $218
            International Markets                79              41
                                               ----            ----

            Net Sales                          $126            $259
                                               ====            ====



Item 2. Management's Discussion and Analysis of Financial Conditions and
        Results of Operations
-------------------------------------------------------------------------

         This report 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.  Except  for  the  historical
information contained in this discussion and analysis of financial condition and
results  of  operations,  the  matters  discussed  herein  are  forward  looking
statements.  These forward looking statements include but are not limited to the
Company's  plans for sales  growth and  expansion  into new  channels  of trade,
expectations  of gross  margin,  expenses,  new  product  introduction,  and the
Company's   liquidity  and  capital  needs.  These  matters  involve  risks  and
uncertainties  that could cause  actual  results to differ  materially  from the
statements made. In addition to the risks and  uncertainties  described in "Risk
Factors",  below,  these risks and  uncertainties  may include  consumer trends,
business cycles,  scientific  developments,  changes in governmental  policy and
regulation,  currency  fluctuations,  economic  trends in the United  States and
inflation. These and other factors may cause actual results to differ materially
from those anticipated in forward-looking statements.  Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak only as
of the date hereof.

                                       7
<PAGE>

CRITICAL ACCOUNTING POLICIES

         Our discussion and analysis of our financial  conditions and results of
operations are based upon our financial statements,  which have been prepared in
accordance with accounting principles generally accepted in the United States of
America.  The  preparation of financial  statements  require  management to make
estimates  and  judgments  that  affect  the  reported  amounts  of  assets  and
liabilities,  revenues and expenses and disclosures on the date of the financial
statements. On an on-going basis, we evaluate our estimates,  including, but not
limited  to,  those  related to revenue  recognition  and license  fees.  We use
authoritative pronouncements, historical experience and other assumptions as the
basis for making judgments. Actual results could differ from those estimates. We
believe  that  the  following  critical  accounting  policies  affect  our  more
significant  judgments  and  estimates  in  the  preparation  of  our  financial
statements.

Revenue Recognition

         Revenue  is  recorded  at the  time  of  merchandise  shipment,  net of
provisions for returns.  The Company records  revenues from sales,  initiated by
sales agents,  net of the sales commissions  earned following the interpretative
guidance  provided  by FASB  Emerging  Issue Task Force  (EITF)  EITF No.  99-19
Reporting Revenue Gross as a Principal versus Net as an Agent.  License fees are
earned over the license period  according to the terms of the license  agreement
and interpretative  guidance provided by Staff Accounting Bulletin (SAB) No. 101
and No.  104.  The  majority  of the  Company's  sales are to  distributors  and
licensees,  and  these  distributors  and  licensees  have no  right  to  return
products.

COMPANY OVERVIEW

         The Company is engaged in the research, development,  manufacturing and
marketing of consumer products  containing  synthetic human pheromones and other
mood enhancing compounds.  The Company initiated  commercial  operations in late
1994 with a line of fine fragrances and  toiletries.  Licensing of the Company's
technology is currently the core business of the Company while directly managing
the on-going development of identified compounds for potential new products. The
Company's  patented  compounds  are sold to licensed  customers  and included as
components  in their  fragranced  consumer  products.  The  Company  also offers
private label manufacturing services for third party consumer product licensees.


Results of Operations

Three Months  ended March 31, 2005  compared to the Three Months ended March 31,
2004

         Net revenue for the first quarter of 2005 was $126,000,  representing a
decrease of 51% from revenues of $259,000 for the prior year's quarter. Domestic
revenues  decreased  $171,000,  a 78%  reduction,  from the prior  year sales of
$218,000.  The Company's  domestic  fourth quarter 2004 sales were  $360,000,  a
$228,000 or 173%,  increase  from the 2003  fourth  quarter  revenues.  Domestic
customers  seem to have  altered  their  historical  purchasing  patterns  which
resulted in increased  sales in the last quarter of 2004 and decreased  revenues
in the current  period.  Since the Company is not always aware of its customer's
manufacturing  and  marketing  plans  revenue  fluctuations  due to the customer
schedules will occur periodically.  International  revenues were $38,000 greater
than the  prior  year due to  increased  sales  in the  Asia and  Latin  America
markets.

         Net  revenues  for the  quarters  ended March 31, 2005 and 2004 were as
follows (in thousands):

                                                  2005            2004
           -----------------------------------------------------------
           Markets:
            U.S Markets                           $ 47            $218
            International Markets                   79              41
                                                  ----            ----
            Net Sales                             $126            $259
                                                  ====            ====


         Gross  profit for the  quarter  ended  March 31, 2005 of $85,000 is 63%
less than last years $219,000. As a percentage of sales, gross profit of 67% was
less than last years of 85% due to the reduced sales of higher  margin  products
during the quarter. As discussed above, the sales for the quarter were less than
the  previous  year due to an  increased  demand in the fourth  quarter of 2004,
resulting in reduced  gross profit and a larger  percentage  of sales with lower
gross margins.

                                       8
<PAGE>

         Research and  Development  expenses for the first  quarters of 2005 and
2004 were  $46,000  and  $9,000,  respectively.  The  increase  of the  research
expenditures  was the  result  of the  Company  inaugurating  operations  at the
University  of Utah under the  Research  Agreement  signed  July 13,  2004.  The
Company is now directly managing all research and development  efforts from this
facility.

         Selling,  general and administrative  expenses for the first quarter of
2005 of $326,000  are $25,000  more than last years  first  quarter  expenses of
$301,000. Selling, and marketing and distribution expenses were $7,000 less than
the prior year as the Company  did not launch a new  product  line in 2005 as it
did in 2004  thereby  reducing  advertising  and related  expenses.  General and
administrative  and  facility  costs were  $32,000  more in the  current  year's
quarter  due to  continued  investor  relations  program  that began in 2004 and
increased payroll costs due to less vacation time used in the current year.

         The  Company  earned  $6,000 and $3,000 in net  interest  income in the
three months ended March 31, 2005 and 2004, respectively. The increase is due to
the rising interest rates.

         The  Company  recorded  no income tax  provision  in 2005 or 2004,  due
primarily to a valuation allowance on deferred tax assets being recorded and the
expected utilization of net operating losses carried forward from prior years to
offset any significant tax liability.  As of March 31, 2005, the Company's gross
deferred tax asset,  which  relates  primarily to net operating  losses  carried
forward was $6,762,000.  However, a full valuation allowance is provided for the
gross  deferred  tax  asset  as  management  could  not  determine  whether  its
realization is more likely than not.


LIQUIDITY AND CAPITAL RESOURCES

         At  March  31,  2005,  the  Company  had  cash  of  $1,095,000  with no
outstanding  bank borrowings and working capital of $1,057,000.  At December 31,
2004, it had cash of $1,201,000 with no outstanding  bank borrowings and working
capital of $1,336,000.  For the first quarter of 2005, net cash used in on-going
activities  was $106,000  compared to the prior years $207,000 and is the result
of  collections  from the  higher  than  usual  accounts  receivable  balance at
December 31, 2004.

         On April 26, 2004, the Company renewed its Business Loan Agreement with
Mid-Peninsula  Bank  of Palo  Alto,  California  (the  "Bank")  providing  for a
revolving  line of credit.  The Company may borrow up to $500,000 at an interest
rate equal to the Bank's prime rate plus 0.75% with borrowings secured primarily
by the Company's trade receivables and inventory.  The agreement,  which expired
on May 3, 2005,  contains certain  debt-to-equity and working capital covenants.
At March 31, 2005 the Company was in compliance with all of the covenants. As of
March 31,  2005 there  were no amounts  outstanding  under this  agreement.  The
Company did not renew this credit line for another year.

         Assuming the Company's activities proceed substantially as planned, the
Company's current cash position and projected results of operations for the next
twelve  months  are  not  expected  to  require  additional  outside  financing.
Management has begun reviewing  optional  sources of cash should the operational
requirements warrant additional funding.


                                       9
<PAGE>
Risk Factors

         The  Company's  future  results  may be affected to a greater or lesser
degree by the following factors, among others:

         The Company has not had  sustained  profitable  operations  since 1997.
Since 1997,  the Company has incurred  losses from  operations.  In May 2000 the
Company  refocused  its business  model based on product  licensing  agreements.
While the Company  anticipates  that this change in its business  will result in
profitable  operations,  it has not to date,  and the  Company's  license  based
business model may not be successful in the future.

         The Company's marketing strategy may not be successful. The Company may
not be able to  establish  and  maintain the  necessary  sales and  distribution
channels. Consumer product and traditional fragrance companies may choose not to
license or private label the Company's products.

         The Company may not be able to protect its technology or trade secrets.
The  Company's  patents and patent  applications  may not protect the  Company's
technology or ensure that the Company's  technology does not infringe  another's
valid  patent.  Others  may  independently   develop  substantially   equivalent
proprietary information.  The Company may not be able to protect its technology,
proprietary information or trade secrets.

         The Company may not be able to develop new  patentable  compounds.  The
Company's  success  substantially  depends upon developing and obtaining patents
for new mood and sensory  enhancing  compounds.  The Company  requires  that its
products  be  scientifically  tested  validating  the  human  responses  to  the
compounds.  The Company may not be  successful  in  validating  that the desired
human responses are obtained.

         The Company may not be able to recruit  and retain key  personnel.  The
Company's  success  substantially  depends upon  recruiting  and  retaining  key
employees and  consultants  with  research,  product  development  and marketing
experience.  The Company may not be successful in recruiting and retaining these
key people.

         The Company relies upon other  companies to  manufacture  its products.
The  Company  and  its  distributors/licensees  rely  upon  other  companies  to
manufacture its pheromones,  supply  components,  and to blend, fill and package
its fragrance products.  The Company and its  distributors/licensees  may not be
able to  obtain or  retain  pheromone  manufacturers,  fragrance  suppliers,  or
component  manufacturers  on  acceptable  terms.  This  would  adversely  affect
operating results.



Item 3.  Controls and Procedures
--------------------------------

         Evaluation  of  Disclosure  Controls  and  Procedures.  Based  on their
evaluation as of the end of the period covered by this Quarterly  Report on Form
10-QSB,  our chief executive  officer and chief financial officer have concluded
that our disclosure  controls and procedures (as defined in Rules  13a-15(e) and
15d-15(e) of the  Securities  Exchange Act of 1934) are effective to ensure that
information  required to be  disclosed  by us in reports  that we file or submit
under the Securities Exchange Act of 1934 is recorded, processed, summarized and
reported within the time periods specified in Securities and Exchange Commission
rules and forms.

         Changes in Internal  Control Over  Financial  Reporting.  There were no
changes  in  our  internal  control  over  financial  reporting   identified  in
connection  with our evaluation  that occurred  during our second fiscal quarter
that have materially  affected,  or are reasonably likely to materially  affect,
our internal control over financial reporting.



                                       10
<PAGE>

                                     PART II
                                OTHER INFORMATION



Item 6.  Exhibits

        a.      Exhibits


                Exhibit 31.1  Certification Pursuant to Section 302 of the
                              Sarbanes-Oxley Act

                Exhibit 31.2  Certification Pursuant to Section 302 of the
                              Sarbanes-Oxley Act

                Exhibit 32    Certification of Chief Executive Officer and
                              Chief Financial Officer Pursuant to 18 U.S.C. 1350





                                       11
<PAGE>


                                   SIGNATURES


         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  had duly  caused  this  Report  to be  signed  on behalf by the
undersigned thereunto duly authorized.


                                         HUMAN PHEROMONE SCIENCES, INC.





Date:  May 12, 2005                      /s/ William P. Horgan
                                         ---------------------------------------
                                         William P. Horgan
                                         Chairman and Chief Executive Officer




Date:  May 12, 2005                      /s/ Gregory S. Fredrick
                                         ---------------------------------------
                                         Gregory S. Fredrick
                                         Chief Financial Officer





                                       12