SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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 8, 1998
                                                         ---------------

                          ADVANCED VIRAL RESEARCH CORP.
               (Exact Name of Registrant as Specified in Charter)


           Delaware                 33-2262-A                 59-2646820
       (State or Other             (Commission              (IRS Employer
 Jurisdiction of Incorporation)    File Number)           Identification No.)


     1250 East Hallandale Beach Blvd., Suite 501, Hallandale, Florida 33009
                    (Address of Principal Executive Offices)


        Registrant's telephone number, including area code (954) 458-7636
                                                           ---------------

                                       N/A
          (Former Name or Former Address, if Changed Since Last Report)





Item 5.    Other Events.

           Registrant  and Dr. Shalom Z.  Hirschman  entered into an Amended and
           Restated  Employment  Agreement,  on  July  8,  1998.  A copy  of the
           executed Amended and Restated Employment Agreement is attached hereto
           as an Exhibit.


Item 7.    Financial Statements, Pro Forma Financial Information and Exhibits.

           Exhibit 99.1 Amended and Restated Employment  Agreement dated July 8,
           1998, by and between  Advanced Viral Research Corp. and Dr. Shalom Z.
           Hirschman.





                                   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.


                                              ADVANCED VIRAL RESEARCH CORP.
                                              ------------------------------
                                                      (Registrant)


Date:  July 20, 1998                        By: /s/ William Bregman
    -------------------------                 ------------------------------
                                              William Bregman, Secretary