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                    U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

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                                 FORM 10-QSB/A



[ X ] QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE
                                 ACT OF 1934
                 For the quarterly period ended June 30, 1996

                                       or

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE EXCHANGE ACT OF 1934
                      For the transition period from to

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                         Commission file number 0-27914


                         RIBOZYME PHARMACEUTICALS, INC.
       (Exact Name of Small Business Issuer as Specified in Its Charter)


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                Delaware                               34-1697351
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       (State of incorporation)           (I.R.S. Employer Identification No.)

                             2950 Wilderness Place
                            Boulder, Colorado 80301
                    (Address of principal executive offices)

                 Registrant's telephone number: (303) 449-6500

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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 
                                                              ---   ---

The number of shares of the registrant's common stock, par value $0.01 per
share, outstanding as of November 22, 1996 was 6,918,070.


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PART I - FINANCIAL INFORMATION

The Registrant's Form 10-QSB for the quarterly period ended June 30, 1996,
filed on August 14, 1996, File No. 0-27914, is hereby incorporated by reference
in its entirety.

PART II - OTHER INFORMATION


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)      Exhibits

                  3(i)    Amended and Restated Certificate of Incorporation (1)
                  3(ii)   Restated Bylaws (1) 
                  10.1    Employment agreement, dated May 2, 1996, between 
                          Registrant and Nassim Usman (2)
                  10.2    Collaboration agreement, dated May 13, 1996, between 
                          the Registrant and Chiron Corporation.
                  11      Statement re:  computation of net loss per share. (2)
                  27      Financial Data Schedule (2)
         (b)      Reports on Form 8-K

         The Company did not file any reports on Form 8-K during the quarter for
         which this report on Form 10-QSB is filed.



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(1) Previously filed with the Company's Registration Statement on Form SB-2, 
file no. 333-1908-D.

(2) Previously filed with the Company's Form 10-QSB, File No. 0-27914, for the 
quarterly period ended June 30, 1996



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                                   SIGNATURES

         In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

                                      RIBOZYME PHARMACEUTICALS, INC.
                              
Dated:    November 22, 1996       By: /s/ RALPH E. CHRISTOFFERSEN
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                                      Ralph E. Christoffersen
                                      President and Chief
                                      Executive Officer
                              
Dated:    November 22, 1996       By: /s/ LAWRENCE E. BULLOCK
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                                      Lawrence E. Bullock
                                      Vice President and Chief Financial Officer
                                      (Principal Financial Officer and
                                      Principal Accounting Officer)
                              

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                                 Exhibit Index


    Exhibit                              Exhibit
      No.                              Description
      --                               -----------
   3(i)          Amended and Restated Certificate of Incorporation (1)
   3(ii)         Restated Bylaws (1)
   10.1          Employment agreement, dated May 2, 1996, between Registrant and
                 Nassim Usman (2) 
   10.2          Collaboration agreement, dated May 13, 1996, between the
                 Registrant and Chiron Corporation.
   11            Statement re:  computation of net loss per share. (2)
   27            Financial Data Schedule (2)

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(1) Previously filed with the Company's Registration Statement on Form SB-2, 
File No. 333-1908-D.

(2) Previously filed with the Company's Form 10-QSB, File No. 0-27914, for the 
quarterly period ended June 30, 1996.