UNITED STATES
                       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): November 2, 2006


                                ICOS CORPORATION
             (Exact name of registrant as specified in its charter)

         Washington                      0-19171                 91-1463450
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(State or other jurisdiction of        (Commission            (I.R.S. Employer
 incorporation or organization)        File Number)          Identification No.)


                   22021 - 20th Avenue S.E., Bothell, WA 98021
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               (Address of principal executive offices) (Zip code)


                                 (425) 485-1900
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              (Registrant's telephone number, including area code)


                                 Not Applicable
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              (Former name, former address and former fiscal year,
                         if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

|_|  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

|_|  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

|_|  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))




ITEM 2.02. Results of Operations and Financial Condition

     On November 2, 2006, ICOS Corporation issued a press release announcing its
financial results for the quarter ended September 30, 2006. A copy of the press
release is furnished as Exhibit 99 to this report and is incorporated herein by
reference.


                                    SIGNATURE

     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.

                                                   ICOS CORPORATION


Date: November 2, 2006                             By: /S/ MICHAEL A. STEIN
      ----------------                                 --------------------
                                                       Michael A. Stein
                                                       Senior Vice President and
                                                       Chief Financial Officer


                                  EXHIBIT INDEX


Exhibit No.    Description

99             Press Release of ICOS Corporation dated November 2, 2006,
               announcing its financial results for the quarter ended September
               30, 2006.