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

                                  FORM 10-Q/A
                                        


[X] QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT
                                    OF 1934
                  For the quarterly period ended June 30, 1998

                                       or

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

                                 _____________

                        Commission file number  0-27914


                         RIBOZYME PHARMACEUTICALS, INC.
            (Exact name of registrant as specified in its charter)


                                 _____________
        
        Delaware                                       34-1697351
        --------                                       ----------
 (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

                                 _____________

Check 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 
   -----      -----   

The number of shares of the registrant's common stock, par value $0.01 per 
share, outstanding as of November 3, 1998 was 9,142,809.
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PART I - FINANCIAL INFORMATION

     The Registrant's Form 10-Q for the quarterly period ended June 30, 1998,
filed on August 13, 1998, File No. 0-27914, is hereby 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 (2)
          10.1   Research Collaboration and License Agreement dated May 19, 1998
                 between the Company and Roche Bioscience, a division of Syntex
                 (U.S.A) Inc.(3)
          27     Financial Data Schedule (4)
 
     (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-Q is filed.

______
(1)  Incorporated by reference from the Company's Registration Statement on Form
     SB-2, file no. 333-34981, dated September 5, 1997.
(2)  Incorporated by reference from the Company's Registration Statement on Form
     SB-2, file no. 333-1908-D, dated April 11, 1996.
(3)  The Company has applied for confidential treatment with respect to portions
     of this exhibit.
(4)  Previously filed with Company's Form 10-Q for the quarterly period ended 
     June 30, 1998.


                                       2
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                                  SIGNATURES

     Pursuant to the requirements 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.

                                       RIBOZYME PHARMACEUTICALS, INC.

Dated: November 11, 1998          By: /s/ RALPH E. CHRISTOFFERSEN
       -----------------             ----------------------------
                                      Ralph E. Christoffersen
                                      President and Chief    
                                      Executive Officer       

Dated: November 11, 1998          By: /s/ LAWRENCE E. BULLOCK       
       -----------------              -----------------------       
                                      Lawrence E. Bullock          
                                      Vice President and Chief Financial Officer
                                      (Principal Financial Officer and
                                       Principal Accounting Officer) 

                                       3
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                                 Exhibit Index


  Exhibit                                        Exhibit
    No.                                        Description
    ---                                        -----------  
   
  3(i)  Amended and Restated Certificate of Incorporation (1)
  3(ii) Restated Bylaws (2)
  10.1  Research Collaboration and License Agreement dated May 19, 1998 between 
        the Company and Roche Bioscience, a division of Syntex (U.S.A) Inc.(3)
  27    Financial Data Schedule (4)

_____
(1)  Incorporated by reference from the Company's Registration Statement on Form
     SB-2, file no. 333-34981, dated September 5, 1997.
(2)  Incorporated by reference from the Company's Registration Statement on Form
     SB-2, file no. 333-1908-D. dated April 11, 1996.
(3)  The Company has applied for confidential treatment with respect to portions
     of this exhibit.
(4)  Previously filed with the Company's Form 10-Q for the quarterly period 
     ended June 30, 1998.
                                       4