SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                         -------------------------------

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE

                         SECURITIES EXCHANGE ACT OF 1934


         Date of report (Date of earliest event reported) July 22, 2003
                                                          -------------

                        CollaGenex Pharmaceuticals, Inc.
                        --------------------------------
               (Exact Name of Registrant as Specified in Charter)


      Delaware                       0-28308                      52-1758016
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(State or Other Jurisdiction   (Commission File Number)       (IRS Employer
      of Incorporation)                                     Identification No.)


41 University Drive, Newtown, Pennsylvania                          18940
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(Address of Principal Executive Offices)                          (Zip Code)


                                 (215) 579-7388
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                 (Registrant's telephone number, including area
                                      code)



     ----------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)





ITEM 9.  REGULATION FD DISCLOSURE  (INFORMATION  FURNISHED  PURSUANT TO ITEM 12,
"DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION").

     On July 22, 2003, CollaGenex Pharmaceuticals,  Inc., a Delaware corporation
(the "Company"),  announced its financial results for the quarter ended June 30,
2003.  The  full  text of the  press  release  issued  in  connection  with  the
announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K.

     In accordance with the procedural guidance in SEC Release No. 33-8216,  the
information in this Form 8-K and the Exhibit  attached hereto is being furnished
under "Item 9. Regulation FD Disclosure"  rather than under "Item 12. Disclosure
of Results of Operations and Financial  Condition." The information shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934
(the "Exchange  Act") or otherwise  subject to the  liabilities of that section,
nor  shall it be  deemed  incorporated  by  reference  in any  filing  under the
Securities  Act of 1933 or the Exchange  Act,  except as expressly  set forth by
specific reference in such a filing.


                                      -2-



                                   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, hereunto duly authorized.

                                 COLLAGENEX PHARMACEUTICALS, INC.



                            By: /s/ Nancy C. Broadbent
                                --------------------------------------------
                                 Nancy C. Broadbent
                                 Chief Financial Officer
                                 (Principal Financial Officer)


Date:  July 22, 2003









                                  EXHIBIT INDEX

Exhibit No.           Description
- ----------            ------------

99.1                  Press release of CollaGenex Pharmaceuticals, Inc., dated
                      July 22, 2003