Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Evans Daron
   2. Issuer Name and Ticker or Trading Symbol
Nile Therapeutics, Inc. [NLTX] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Financial Officer
(Last)
(First)
(Middle)
C/O NILE THERAPEUTICS, INC., 115 SANSOME STREET, SUITE #310		 3. Date of Earliest Transaction (Month/Day/Year)
07/07/2009
(Street)

SAN FRANCISCO, CA 94104		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/07/2009   P   3,952 A (1) 14,152 D  
Common Stock               9,200 I By Spouse
Common Stock               200 I By Daughter
Common Stock               200 I By Son

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 0.88             01/16/2009 01/15/2019 Common Stock 49,020   49,020 D  
Stock Option (Right to Buy) $ 0.89             06/24/2009 06/24/2019 Common Stock 25,000   25,000 D  
Stock Option (Right to Buy) $ 2.71               (2) 01/19/2012 Common Stock 239,899   239,899 D  
Stock Option (Right to Buy) $ 2.71               (3) 09/17/2017 Common Stock 76,528   76,528 D  
Warrant (Right to Buy) $ 1.25 07/07/2009   P   988   07/07/2009 07/07/2014 Common Stock 988 (1) 988 D  
Warrant (Right to Buy) $ 1.71 07/07/2009   P   988   07/07/2009 07/07/2014 Common Stock 988 (1) 988 D  
Warrant (Right to Buy) $ 2.28 07/07/2009   P   1,976   07/07/2009 07/07/2014 Common Stock 1,976 (1) 1,976 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Evans Daron
C/O NILE THERAPEUTICS, INC.
115 SANSOME STREET, SUITE #310
SAN FRANCISCO, CA 94104		       Chief Financial Officer  

Signatures

 /s/ Daron Evans   07/09/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The reported securities were part of a unit purchase by the Reporting Person at a price of $1.265 per unit, with each unit consisting of one share of common stock and one warrant to purchase common stock. 25% of the warrants are exercisable at $1.25 per share, an additional 25% are exercisable at $1.71 per share, and the remaining 50% are exercisable at $2.28 per share.
(2) The option vests in three equal installments on January 18, 2008, January 18, 2009, and January 18, 2010.
(3) On September 17, 2007, the Reporting Person was granted an option to purchase up to 288,458 shares of common stock of the Issuer. Up to 33.33% of the shares subject to the option may vest annually (or a pro rata portion thereof for a period of less than a full year) based on the achievement of certain performance milestones for each year (or a pro rata portion thereof for a period of less than a full year) following the date of grant as determined by the Board of Directors of the Issuer (the "Performance Options"). On March 4, 2008, the Issuer's Board of Directors determined that the Performance Options for the prorated period ending December 31, 2007, would vest in the amount of 76,528 shares.

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