UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON D.C. 20549
                                                               
                                   FORM 12b-25
                           NOTIFICATION OF LATE FILING
                                                               
                                                               
                                                               
                                                               
                                                               
                                                               
(Check One)
[ ] Form 10-KSB   [ ] Form 20-F    [ ] Form 11-K    [X]Form 10-QSB
[ ] Form N-SAR

For Period Ended: March 31, 2003
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[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR

For the Transition Period Ended: ________________________

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|Read Instruction (on back page) Before Preparing Form. Please Print or Type.  |
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| Nothing in this form shall be construed to imply that the Commission has     |
|              verified any information contained herein.                      |
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If the notification  relates to a portion of the filing checked above,  identify
the Item(s) to which the notification relates:

________________________________________________________________________________

PART I - REGISTRANT INFORMATION


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Full Name of Registrant:

BioDelivery Sciences International, Inc.

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Former Name if Applicable

n/a

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Address of Principal Executive Office (Street and Number)

UMDNJ Medical School, 185 South Orange Avenue, Bldg. #4



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City, State, Zip Code

Newark, New Jersey 07103
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<PAGE>

PART II - RULES 12b-25 (b) AND (c)

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)

[X] (a) The reasons  described in reasonable  detail in Part III of this form 
        could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition report on
        Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof, will be
        filed on or before the fifteenth calendar day following the prescribed
        due date; or the subject quarterly report of transition report on Form
        10-QSB, or portion thereof will be filed on or before the fifth
        calendar day following the prescribed due date; and
    (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
        has been attached if applicable.


PART III - NARRATIVE

State below in reasonable  detail the reasons why Forms 10-K,  20-F, 11-K, 10-Q,
N-SAR or the transition  report or portion thereof could not be filed within the
prescribed time period.

The  Registrant  cannot  complete the subject  report before the due date of the
report without  unreasonable  effort and expense because of the recent change in
the Registrant's independent auditor. The subject report is expected to be filed
on or before the fifth calendar day after the prescribed due date.


<PAGE>

PART IV - OTHER INFORMATION

(1)  Name  and  telephone  number  of  person  to  contact  in  regard  to  this
     notification:

James A. McNulty                (813)                902-8980
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(Name)                       (Area Code)         (Telephone No.)

(2)  Have all other periodic  reports  required under section 13 or 15(d) of the
     Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
     of 1940 during the preceding 12 months or for such shorter  period that the
     registrant was required to file such report(s) been filed? If the answer is
     no, identify report(s).                                        [X]Yes [ ]No

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(3)  Is it anticipated that any significant change in results of operations from
     the corresponding  period for the last fiscal year will be reflected by the
     earnings  statements  to be  included  in the  subject  report  or  portion
     thereof?

                                                                    [ ]Yes [X]No

If so, attach an explanation of the  anticipated  change,  both  narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.

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                      BioDelivery Sciences International, Inc.
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                    (Name of Registrant as Specified in Charter)

has  caused  this  notification  to be signed on its  behalf by the  undersigned
thereunto duly authorized.

Date: May 15, 2003                   By: /s/ James A. McNulty
     -----------------                   -------------------------------------
                                         James A. McNulty, Secretary, Treasurer
                                         and Chief Financial Officer

INSTRUCTION; The form may be signed by an executive officer of the registrant or
by any other duly  authorized  representative.  The name and title of the person
signing  the form  shall  be typed or  printed  beneath  the  signature.  if the
statement is signed on behalf of the registrant by an authorized  representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.

                                    ATTENTION

   Intentional misstatements or omissions of fact constitute Federal Criminal
                        Violations (See 18 U.S.C. 1001).