Exhibit
      10.16

    HANA
      BIOSCIENCES, INC.

    Amendment
      to Stock Option Agreements

    


     

    This
      Amendment to Stock Option Agreements (this “Amendment”)
      is
      made and entered into as of the 30th day of June, 2006, between Mark J. Ahn
      (“Optionee”)
      and
      Hana Biosciences, Inc., a Delaware corporation (the “Company”).

     

    Background

     

    A.       Optionee
      and the Company entered into several Stock Option Agreements dated as of
      November 1, 2003, February 15, 2004, February 26, 2004, and July 20, 2004,
      respectively (individually a “Stock
      Option Agreement”
and
      collectively the “Stock
      Option Agreements”).

     

    B.       
      Pursuant to the Stock Option Agreements, the Company granted Optionee options
      to
      purchase an aggregate of 952,305 shares of the Company’s common stock, as
      adjusted to reflect stock splits, combinations, mergers and other adjustments
      prior to the date hereof.

     

    C.       The
      applicable exercise price relating to each Stock Option Agreement was less
      than
      the fair market value of the Company’s common stock on the respective dates of
      the Stock Option Agreements.

     

    D.       On
      May 9, 2006, Optionee exercised his option to purchase shares of Company common
      stock under the November 1, 2003 Stock Option Agreement in the amount of 164,508
      shares, leaving a total of 787,797 shares available for exercise under the
      Stock
      Option Agreements.

     

    E.       Due
      to the tax implications of Section 409A of the Internal Revenue Code of 1986,
      as
      amended, the Company and Optionee have agreed to amend the Stock Option
      Agreements in order to increase the exercise prices to equal the fair market
      value of the Company’s common stock as of the date of each such agreement.


     

    F.       
      To compensate the Optionee for increasing the exercise prices, the Company
      has
      issued to Optionee 74,887 shares of restricted common stock, subject to the
      terms set forth in that certain Restricted Stock Agreement by and between the
      Company and Optionee dated of even date herewith.

     

    G.       Optionee
      and the Company hereby agree to amend the terms of the respective Stock Option
      Agreements to reflect the adjustment to the exercise price as set forth
      below.

     

    Agreement

     

    Now,
      Therefore,
      the
      parties hereto agree as follows:

     

    I.       Adjustment
      to Exercise Prices.
      Notwithstanding anything to the contrary contained in the Stock Option
      Agreements, the exercise price set forth in each Stock Option Agreement shall
      be
      amended as follows:

     

    
      	
              Date
                of Stock Option Agreement

            	 	
              Original
                Exercise Price

            	 	
              Amended
                Price

            
	 	 	 	 	 
	
              November
                1, 2003

            	 	
              $0.167

            	 	
              $0.833

            
	 	 	 	 	 
	
              February
                15, 2004

            	 	
              $0.167

            	 	
              $0.833

            
	 	 	 	 	 
	
              February
                26, 2004

            	 	
              $0.337

            	 	
              $1.684

            
	 	 	 	 	 
	
              July
                20, 2004

            	 	
              $0.337

            	 	
              $1.684

            


    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    II.       General.
      

     

    A.       Except
      as specifically amended by this Amendment, the terms of the respective Stock
      Option Agreements shall continue in full force and effect without
      amendment.

     

    B.       Nothing
      herein expressed or implied is intended or shall be construed as conferring
      upon
      or giving to any person, firm, or corporation other than the parties hereto,
      any
      rights or benefits under or by reason of this Amendment.

     

    C.       Each
      party hereto agrees to execute such further documents as may be necessary or
      desirable to effect the purposes of this Amendment.

     

    D.       This
      Amendment may be executed in any number of counterparts, each of which shall
      be
      deemed an original, but all of which shall constitute one and the same
      agreement.

     

    E.       This
      Amendment, together with the Stock Option Agreements, embodies the entire
      agreement made between the parties hereto with respect to matters covered herein
      and shall not be modified except in a writing signed by each of the parties
      hereto.

    


    


    IN
      WITNESS WHEREOF, the undersigned have executed this Amendment to Stock Option
      Agreements as of the date first written above.

     

    


    
      	 	
              OPTIONEE

               

              /s/
                Mark J. Ahn

              Name:
                Mark J. Ahn

            
	 	
               

               

              HANA
                BIOSCIENCES, INC.

               

              By:
                /s/ John P. Iparraguirre

              John
                P. Iparraguirre

              Vice
                President, Chief Financial Officer

            
	 	 


    

    


    


    


    
      
         

      

      
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