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

                          AMENDMENT NO. 1 TO FORM 10-K


(Mark One)

  [ X ]   ANNUAL  REPORT  PURSUANT  TO  SECTION  13 OR 15(d)  OF THE  SECURITIES
          EXCHANGE ACT OF 1934 for the fiscal year ended September 30, 2001.

   OR

  [   ]   TRANSITION  REPORT  PURSUANT TO SECTION 13 OR 15(d) OF THE  SECURITIES
          EXCHANGE ACT OF 1934 for the  transition  period from  ___________  to
          _____________.

                         Commission File Number 0-23357

                           BIOANALYTICAL SYSTEMS, INC.
           (Exact name of the registrant as specified in its charter)


                 INDIANA                                   35-1345024
       -------------------------------                 ------------------
       (State or other jurisdiction of                  (I.R.S. Employer
        incorporation or organization)                 Identification No.)


             2701 KENT AVENUE
            WEST LAFAYETTE, IN                               47906
   ---------------------------------------                 ----------
   (Address of principal executive offices)                (Zip code)

                                 (765) 463-4527
              ----------------------------------------------------
              (Registrant's telephone number, including area code)


Securities registered pursuant to Section 12(b) of the Act:  None


Securities registered pursuant to section 12(g) of the Act:  Common Shares


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 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 [   ]

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation S-K (Section 229.045 of this chapter) is not contained herein, and
will not be  contained,  to the best of  registrant's  knowledge,  in definitive
proxy or information  statements  incorporated  by reference in Part III of this
Form 10-K or any amendment to this Form 10-K. [ X ]

Based on the closing price on the NASDAQ exchange, the aggregate market value of
the voting and non-voting common equity held by non-affiliates of the registrant
is $18,686,833. As of November 30, 2001, 4,569,416 shares of registrant's common
shares  were  outstanding.  No  shares  of  registrant's  Preferred  Stock  were
outstanding as of November 30, 2001.

<PAGE>

     The  purpose  of this  amendment  is to  correct a  typographical  error in
footnote  10 to the  audited  financial  statements  included  in the  edgarised
version of the 2001 Annual Report  included as exhibit 13.1 to the Annual Report
on  Form  10-K.  The  columns  of a table  reporting  segment  information  were
mislabeled.


ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

     You can find the consolidated  financial  statements of the Company and its
subsidiaries  in our 2001  Annual  Report at pages 14-17  (Consolidated  Balance
Sheets,  Consolidated  Statements  of  Operations,  Consolidated  Statements  of
Shareholders' Equity and Consolidated  Statements of Cash Flows) and pages 18-27
(Notes  to  Consolidated  Financial  Statements).  You can  find the  Report  of
Independent  Auditors  at page 28 of our 2001  Annual  Report.  All of the above
information is incorporated in this Report by reference.

     Also  incorporated  by reference  is  information  on quarterly  results of
operations,  which  can be found  in our 2001  Annual  Report  under  "Quarterly
Financial Data (unaudited)" at page 9.


                                     PART IV

ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

     (a) Documents filed as part of this Report.

          1. Financial Statements:

               Included as outlined in Item 8 of Part II of this report.

               Report of Independent Auditors.

               Consolidated   Balance  Sheets  as  of  September  30,  2001  and
               September 30, 2000.

               Consolidated   Statements  of  Operations  for  the  Years  Ended
               September 30, 2001, 2000 and 1999.

               Consolidated  Statements  of  Shareholders'  Equity for the Years
               Ended September 30, 2001, 2000 and 1999.

               Consolidated  Statements  of  Cash  Flows  for  the  Years  Ended
               September 30, 2001, 2000 and 1999.

               Notes to Consolidated Financial Statements.


          2. Financial Statement Schedules:

               Schedules  are  not  required,   are  not   applicable,   or  the
               information is shown in the Notes to the  Consolidated  Financial
               Statements.


     (b) Reports on Form 8-K. None


     (c) Exhibits. See Index to Exhibits.



                                     - 2 -
<PAGE>

                                   SIGNATURES

     Pursuant  to the  requirements  of  Section  13 or 15(d) of the  Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.


                            BIOANALYTICAL SYSTEMS, INC.
                                   (Registrant)


                            By: /s/ Peter T. Kissinger
                                ------------------------------------------------
                                Peter T. Kissinger
                                President, Chairman and Chief Executive Officer


                            By: /s/ Douglas P. Wieten
                                ------------------------------------------------
                                Douglas P. Wieten
                                Chief Financial Officer, Treasurer, VP Finance
                                (Principal Financial and Accounting Officer)


Date:  December 27, 2001

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following  persons on behalf of the  Registrant and
in the capacities and on the dates indicated.

Signature                      Capacity                        Date
---------                      --------                        ----


/s/ Peter T. Kissinger         President, Chairman Chief       December 27, 2001
----------------------------   Executive Officer and
Peter T. Kissinger             Director


/s/ Douglas P. Wieten          Chief Financial Officer,        December 27, 2001
----------------------------   and Treasurer
Douglas P. Wieten


/s/ William E. Baitinger       Director                        December 27, 2001
----------------------------
William E. Baitinger


/s/ Michael K. Campbell        Director                        December 27, 2001
----------------------------
Michael K. Campbell


/s/ Candice B. Kissinger       Director                        December 27, 2001
----------------------------
Candice B. Kissinger


/s/ John A. Kraeutler          Director                        December 27, 2001
----------------------------
John A. Kraeutler


/s/ Ronald E. Shoup            Director                        December 27, 2001
----------------------------
Ronald E. Shoup


/s/ W. Leigh Thompson          Director                        December 27, 2001
----------------------------
W. Leigh Thompson


                                     - 3 -
<PAGE>

                               INDEX TO EXHIBITS


                                                                     Sequential
    Number                                                            Numbering
 Assigned In                                                         System Page
Regulation S-K                                                        Number of
   Item 601                 Description of Exhibits                    Exhibit
--------------              -----------------------                  -----------

    (2)             No Exhibit

    (3)    3.1      Second  Amended  and  Restated   Articles  of
                    Incorporation of Bioanalytical  Systems, Inc.
                    (Incorporated  by reference to Exhibit 3.1 to
                    Form 10-Q for the quarter ended  December 31,
                    1997).

           3.2      Second  Restated   Bylaws  of   Bioanalytical
                    Systems,  Inc.  (Incorporated by reference to
                    Exhibit  3.2 to Form  10-Q  for  the  quarter
                    ended December 31, 1997).

    (4)    4.1      Specimen   Certificate   for  Common   Shares
                    (Incorporated  by reference to Exhibit 4.1 to
                    Registration    Statement    on   Form   S-1,
                    Registration No. 333-36429).

           4.2      See Exhibits 3.1 and 3.2


    (9)             No Exhibit

    (10)   10.2     Bioanalytical  Systems, Inc. Outside Director
                    Stock Option Plan  (Incorporated by reference
                    to Exhibit 10.2 to Registration  Statement on
                    Form S-1, Registration No. 333-36429).

           10.3     Form of Bioanalytical  Systems,  Inc. Outside
                    Director Stock Option Agreement (Incorporated
                    by reference to Exhibit 10.3 to  Registration
                    Statement  on  Form  S-1,   Registration  No.
                    333-36429).

           10.4     Bioanalytical  Systems,  Inc.  1990  Employee
                    Incentive Stock Option Plan  (Incorporated by
                    reference  to  Exhibit  10.4 to  Registration
                    Statement  on  Form  S-1,   Registration  No.
                    333-36429).

           10.5     Form  of  Bioanalytical  Systems,  Inc.  1990
                    Employee  Incentive  Stock  Option  Agreement
                    (Incorporated by reference to Exhibit 10.5 to
                    Registration    Statement    on   Form   S-1,
                    Registration No. 333-36429).


                                     - 4 -

<PAGE>

           10.6     Bioanalytical  Systems,  Inc.  1997  Employee
                    Incentive Stock Option Plan  (Incorporated by
                    reference  to Exhibit  10.26 to  Registration
                    Statement  on  Form  S-1,   Registration  No.
                    333-36429).

           10.7     Form  of  Bioanalytical  Systems,  Inc.  1997
                    Employee  Incentive  Stock  Option  Agreement
                    (Incorporated  by reference to Exhibit  10.27
                    to   Registration   Statement  on  Form  S-1,
                    Registration No. 333-36429).

           10.8     1997  Bioanalytical   Systems,  Inc.  Outside
                    Director Stock Option Plan  (Incorporated  by
                    reference  to Exhibit  10.28 to  Registration
                    Statement  on  Form  S-1,   Registration  No.
                    333-36429).

           10.9     Form  of  Bioanalytical  Systems,  Inc.  1997
                    Outside   Director  Stock  Option   Agreement
                    (Incorporated  by reference to Exhibit  10.29
                    to   Registration   Statement  on  Form  S-1,
                    Registration No. 333-36429).

           10.10    Business   Loan   Agreement  by  and  between
                    Bioanalytical  Systems,  Inc.,  and Bank One,
                    Indiana, N.A. dated April 1, 2001.

           10.11    Commercial  Security Agreement by and between
                    Bioanalytical  Systems,  Inc.  and Bank  One,
                    Indiana,    N.A.,   dated   March   1,   1998
                    (Incorporated  by reference to Exhibit  10.15
                    to Form 10-Q for the quarter  ended March 31,
                    1998).

           10.12    Negative  Pledge  Agreement  by  and  between
                    Bioanalytical  Systems,  Inc.  and Bank  One,
                    Indiana,    N.A.,   dated   March   1,   1998
                    (Incorporated  by reference to Exhibit  10.16
                    to Form 10-Q for the quarter  ended March 31,
                    1998).

           10.13    Promissory Note by and between  Bioanalytical
                    Systems,  Inc.  and Bank One,  Indiana  N.A.,
                    dated  June 24,  1999  related to loan in the
                    amount   of   $3,500,000   (Incorporated   by
                    reference to Exhitibit 10.18 to Form 10-Q for
                    the quarter ended June 30, 1999).


                                     - 5 -

<PAGE>


           10.14    Promissory  Note for  $3,500,000  executed by
                    Bioanalytical  Systems, Inc. in favor of Bank
                    One,   Indiana  N.A.,  dated  April  1,  2001
                    (Incorporated  by reference to Exhibit  10.14
                    to Form 10-Q for the  quarter  ended June 30,
                    2000).

    (12)            No Exhibit

    (13)   13.1     2001 Annual Report

    (16)            No Exhibit

    (18)            No Exhibit

    (21)   21.1     Subsidiaries of  the Registrant (Incorporated
                    by reference to Exhibit 21.1 to Form 10-K for
                    the year ended September 30, 2001).

    (23)   23.1     Consent of Independent Auditors (Incorporated
                    by reference to Exhibit 23.1 to Form 10-K for
                    the year ended September 30, 2001)

    (24)            No Exhibit

    (27)            No Exhibit

    (99)   99.1     Risk   Factors  Auditors  ( Incorporated   by
                    reference Exhibit 99.1 to  Form  10-K for the
                    year ended September 30, 2001)


                                     - 6 -