FORM 10-C

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

Report by issuer of  securities  quoted on The Nasdaq  Stock  Market(sm),  filed
pursuant to Section 13 or 15(d) of the Securities  Exchange Act of 1934 and Rule
13a-17 or 15d-17 thereunder.


EXACT NAME OF ISSUER AS SPECIFIED IN CHARTER:  Aronex Pharmaceuticals, Inc.
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ADDRESS  OF  PRINCIPAL  EXECUTIVE  OFFICES:  3400  Research  Forest  Drive,  The
                                             -----------------------------------
Woodlands, Texas 77381  
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ISSUER'S TELEPHONE NUMBER (INCLUDING AREA CODE):  (713) 367-1666


I.  Change in Number of Shares Outstanding
Indicate any change (increase or decrease) of five percent or more in the number
of shares outstanding:

1.   Title of security   Common Stock
                         ------------
2.   Number of shares outstanding before the change  22,020,283
                                                     ----------
3.   Number of shares  outstanding  after the change  28,920,283  (as of May 30,
                                                      --------------------------
     1996) 
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4.   Effective  date of change May 22, 1996  (initial  closing) and May 30, 1996
                               -------------------------------------------------
     (over-allotment)
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5.   Method of change  New issuance
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Specify  method  (such as merger,  acquisition,  exchange,  distribution,  stock
split,  reverse  split,  acquisition  of stock for  treasury,  etc.)  Give brief
description of transaction Public offering of 6,900,000 shares of Common Stock
                           ---------------------------------------------------

II.  CHANGE IN NAME OF ISSUER

1.   Name prior to change

2.   Name after change

3.   Effective date of charter amendment changing name

4.   Date of shareholder approval of change, if required



May 31, 1996         /s/ Terance A. Murnane            Controller and Secretary
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DATE                              OFFICER'S SIGNATURE AND TITLE