UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                                (Amendment No. )*

                           RIGEL PHARMACEUTICALS, INC.
                           ---------------------------
                                (Name of Issuer)

                                  Common Stock
                                  ------------
                         (Title of Class of Securities)

                                    766559603
                                    ---------
                                 (CUSIP Number)

                                October 14, 2005
                                ----------------
                      (Date of Event which Requires Filing
                               of this Statement)



Check the appropriate box to designate the rule pursuant to which this Schedule
                                   is filed:

                                [ ] Rule 13d-1(b)
                                [X] Rule 13d-1(c)
                                [ ] Rule 13d-1(d)



*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).

------------------------------------              ------------------------------
CUSIP No. 766559603                      13G      Page  2  of  17  Pages
------------------------------------              ------------------------------

---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Advisors, LLC

---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                     (a) [ ]

                                                                     (b) [X]

---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
--------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
  
                      ----- ----------------------------------------------------
      NUMBER OF          6  SHARED VOTING POWER
       SHARES
     BENEFICIALLY           582,900(1) (see Item 4)
      OWNED BY        ----- ----------------------------------------------------
    EACH REPORTING       7  SOLE DISPOSITIVE POWER
     PERSON WITH
                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            582,900(1) (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           582,900(1) (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]

---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           2.4% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 2 of 17




------------------------------------              ------------------------------
CUSIP No. 766559603                      13G      Page  3  of  17  Pages
------------------------------------              ------------------------------


---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Management, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]

                                                                      (b) [X]

---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
-------------------- ------ ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
  
                      ----- ----------------------------------------------------
      NUMBER OF          6  SHARED VOTING POWER
       SHARES
     BENEFICIALLY           582,900(1) (see Item 4)
      OWNED BY        ----- ----------------------------------------------------
    EACH REPORTING       7  SOLE DISPOSITIVE POWER
     PERSON WITH
                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            582,900(1) (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           582,900(1) (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]

---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           2.4% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 3 of 17




------------------------------------              ------------------------------
CUSIP No. 766559603                      13G      Page  4  of  17  Pages
------------------------------------              ------------------------------

---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Associates, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                     (a) [ ]

                                                                     (b) [X]

---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Anguilla, British West Indies
-------------------- ------ ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
  
                      ----- ----------------------------------------------------
      NUMBER OF          6  SHARED VOTING POWER
       SHARES
     BENEFICIALLY           580,000(1) (see Item 4)
      OWNED BY        ----- ----------------------------------------------------
    EACH REPORTING       7  SOLE DISPOSITIVE POWER
     PERSON WITH
                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            580,000(1) (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           580,000(1) (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]

---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           2.4% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 4 of 17


------------------------------------              ------------------------------
CUSIP No. 766559603                      13G      Page  5  of  17  Pages
------------------------------------              ------------------------------


---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. MultiQuant Fund, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                     (a) [ ]

                                                                     (b) [X]

---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Anguilla, British West Indies
-------------------- ------ ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
  
                      ----- ----------------------------------------------------
      NUMBER OF          6  SHARED VOTING POWER
       SHARES
     BENEFICIALLY           2,900 (see Item 4)
      OWNED BY        ----- ----------------------------------------------------
    EACH REPORTING       7  SOLE DISPOSITIVE POWER
     PERSON WITH
                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            2,900 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           2,900 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]

---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           Less than 0.1% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 5 of 17


-------------------------------------             ------------------------------
CUSIP No. 766559603                      13G      Page  6  of  17  Pages
------------------------------------              ------------------------------


---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           CR Intrinsic Investors, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                     (a) [ ]

                                                                     (b) [X]

---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
-------------------- ------ ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
  
                      ----- ----------------------------------------------------
      NUMBER OF          6  SHARED VOTING POWER
       SHARES
     BENEFICIALLY           565,000(2) (see Item 4)
      OWNED BY        ----- ----------------------------------------------------
    EACH REPORTING       7  SOLE DISPOSITIVE POWER
     PERSON WITH
                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            565,000(2) (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           565,000(2) (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]

---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           2.3% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 6 of 17


-------------------------------------             ------------------------------
CUSIP No. 766559603                      13G      Page  7  of  17  Pages
------------------------------------              ------------------------------

---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           CR Intrinsic Investments, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                     (a) [ ]

                                                                     (b) [X]

---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Anguilla, British West Indies
-------------------- ------ ----------------------------------------------------
                        5  SOLE VOTING POWER

                            0
  
                      ----- ----------------------------------------------------
      NUMBER OF          6  SHARED VOTING POWER
       SHARES
     BENEFICIALLY           565,000(2) (see Item 4)
      OWNED BY        ----- ----------------------------------------------------
    EACH REPORTING       7  SOLE DISPOSITIVE POWER
     PERSON WITH
                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            565,000(2) (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           565,000(2) (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]

---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           2.3% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 7 of 17


-------------------------------------             ------------------------------
CUSIP No. 766559603                      13G      Page  8  of  17  Pages
------------------------------------              ------------------------------


---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Sigma Capital Management, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                     (a) [ ]

                                                                     (b) [X]

---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
-------------------- ------ ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
  
                      ----- ----------------------------------------------------
      NUMBER OF          6  SHARED VOTING POWER
       SHARES
     BENEFICIALLY           210,000 (see Item 4)
      OWNED BY        ----- ----------------------------------------------------
    EACH REPORTING       7  SOLE DISPOSITIVE POWER
     PERSON WITH
                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            210,000 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           210,000 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]

---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           0.9% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 8 of 17


-------------------------------------             ------------------------------
CUSIP No. 766559603                      13G      Page  9  of  17  Pages
------------------------------------              ------------------------------


---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Sigma Capital Associates, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                     (a) [ ]

                                                                     (b) [X]

---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Anguilla, British West Indies
-------------------- ------ ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
  
                      ----- ----------------------------------------------------
      NUMBER OF          6  SHARED VOTING POWER
       SHARES
     BENEFICIALLY           210,000 (see Item 4)
      OWNED BY        ----- ----------------------------------------------------
    EACH REPORTING       7  SOLE DISPOSITIVE POWER
     PERSON WITH
                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            210,000 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           210,000 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]

---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           0.9% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 9 of 17


-------------------------------------             ------------------------------
CUSIP No. 766559603                      13G      Page  10  of  17  Pages
------------------------------------              ------------------------------

---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Steven A. Cohen
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                     (a) [ ]

                                                                     (b) [X]

---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           United States
-------------------- ------ ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
  
                      ----- ----------------------------------------------------
      NUMBER OF          6  SHARED VOTING POWER
       SHARES
     BENEFICIALLY           1,357,900(1)(2) (see Item 4)
      OWNED BY        ----- ----------------------------------------------------
    EACH REPORTING       7  SOLE DISPOSITIVE POWER
     PERSON WITH
                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            1,357,900(1)(2) (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,357,900(1)(2) (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]

---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           5.6% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           IN
---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT

                                 Page 10 of 17



Item 1(a)      Name of Issuer:
               --------------

               Rigel Pharmaceuticals, Inc.

Item 1(b)      Address of Issuer's Principal Executive Offices:
               -----------------------------------------------

               1180 Veterans Boulevard
               South San Francisco, California 94080

Items 2(a)     Name of Person Filing:
               ---------------------

               This statement is filed by: (i) S.A.C. Capital Advisors, LLC,
               ("SAC Capital Advisors") with respect to shares of common stock
               ("Shares") of the Issuer beneficially owned by S.A.C. Capital
               Associates, LLC ("SAC Capital Associates") and S.A.C. MultiQuant
               Fund, LLC ("SAC MultiQuant"); (ii) S.A.C. Capital Management,
               LLC, ("SAC Capital Management") with respect to Shares
               beneficially owned by SAC Capital Associates and SAC MultiQuant;
               (iii) SAC Capital Associates with respect to Shares beneficially
               owned by it; (iv) SAC MultiQuant with respect to Shares
               beneficially owned by it; (v) CR Intrinsic Investors, LLC ("CR
               Intrinsic Investors") with respect to Shares beneficially owned
               by CR Intrinsic Investments, LLC ("CR Intrinsic Investments");
               (vi) CR Intrinsic Investments with respect to Shares beneficially
               owned by it; (vii) Sigma Capital Management, LLC ("Sigma Capital
               Management") with respect to Shares beneficially owned by Sigma
               Capital Associates, LLC ("Sigma Capital Associates"); (viii)
               Sigma Capital Associates with respect to Shares beneficially
               owned by it; and (ix) Steven A. Cohen with respect to Shares
               beneficially owned by SAC Capital Advisors, SAC Capital
               Management, SAC Capital Associates, SAC MultiQuant, CR Intrinsic
               Investors, CR Intrinsic Investments, Sigma Capital Management and
               Sigma Capital Associates.

Item 2(b)      Address of Principal Business Office:
               ------------------------------------

               The address of the principal business office of (i) SAC Capital
               Advisors, CR Intrinsic Investors and Mr. Cohen is 72 Cummings
               Point Road, Stamford, Connecticut 06902, (ii) SAC Capital
               Management and Sigma Capital Management is 540 Madison Avenue,
               New York, New York 10022, (iii) SAC Capital Associates, SAC
               MultiQuant and Sigma Capital Associates is P.O. Box 58, Victoria
               House, The Valley, Anguilla, British West Indies and (iv) CR
               Intrinsic Investments is P.O. Box 174, Mitchell House, The
               Valley, Anguilla, BWI.


                                 Page 11 of 17



Item 2(c)      Citizenship:
               -----------

               SAC Capital Advisors, SAC Capital Management, CR Intrinsic
               Investors and Sigma Capital Management are Delaware limited
               liability companies. SAC Capital Associates, SAC MultiQuant, CR
               Intrinsic Investments and Sigma Capital Associates are Anguillan
               limited liability companies. Mr. Cohen is a United States
               citizen.

Item 2(d)      Title of Class of Securities:
               ----------------------------

               Common Stock

Item 2(e)      CUSIP Number:
               ------------

               766559603

Item 3         Not Applicable

Item 4         Ownership:
               ---------

               The percentages used herein are calculated based upon the Shares
               issued and outstanding as of July 29, 2005 as reported on the
               Issuer's quarterly report on Form 10-Q filed with the Securities
               and Exchange Commission by the Issuer for the quarter period
               ended June 30, 2005.

               As of the close of business on October 25, 2005:

               1. S.A.C. Capital Advisors, LLC
               (a) Amount beneficially owned: 582,900(1)
               (b) Percent of class: 2.4%
               (c) (i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 582,900(1)
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition:
                    582,900(1)

               2. S.A.C. Capital Management, LLC
               (a) Amount beneficially owned: 582,900(1)
               (b) Percent of class: 2.4%
               (c) (i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 582,900(1)
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition:
                    582,900(1)


                                 Page 12 of 17



               3. S.A.C. Capital Associates, LLC
               (a) Amount beneficially owned: 580,000(1)
               (b) Percent of class: 2.4%
               (c) (i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 580,000(1)
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition:
                    580,000(1)

               4. S.A.C. MultiQuant Fund, LLC
               (a) Amount beneficially owned: 2,900
               (b) Percent of class: Less than 0.1%
               (c) (i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 2,900
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition: 2,900

               5. CR Intrinsic Investors, LLC
               (a) Amount beneficially owned: 565,000(2)
               (b) Percent of class: 2.3%
               (c) (i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 565,000(2)
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition:
                    565,000(2)

               6. CR Intrinsic Investments, LLC
               (a) Amount beneficially owned: 565,000(2)
               (b) Percent of class: 2.3%
               (c) (i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 565,000(2)
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition:
                    565,000(2)

               7. Sigma Capital Management, LLC
               (a) Amount beneficially owned: 210,000
               (b) Percent of class: 0.9%
               (c) (i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 210,000
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition: 210,000

               8. Sigma Capital Associates, LLC
               (a) Amount beneficially owned: 210,000
               (b) Percent of class: 0.9%
               (c) (i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 210,000
               (iii) Sole power to dispose or direct the disposition: -0-


                                 Page 13 of 17



               (iv) Shared power to dispose or direct the disposition: 210,000

               9. Steven A. Cohen
               (a) Amount beneficially owned: 1,357,900(1)(2)
               (b) Percent of class: 5.6%
               (c) (i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 1,357,900(1)(2)
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition:
                    1,357,900(1)(2)

               (1) The number of shares reported herein includes options held by
               SAC Capital Associates on 100,000 Shares.

               (2) The number of shares reported herein includes options held by
               CR Intrinsic Investments on 200,000 Shares.

               SAC Capital Advisors, SAC Capital Management, CR Intrinsic
               Investors, Sigma Capital Management and Mr. Cohen own directly no
               Shares. Pursuant to investment agreements, each of SAC Capital
               Advisors and SAC Capital Management share all investment and
               voting power with respect to the securities held by SAC Capital
               Associates and SAC MultiQuant. Pursuant to an investment
               management agreement, CR Instrinsic Investors maintains
               investment and voting power with respect to the securities held
               by CR Intrinsic Investments. Pursuant to an investment management
               agreement, Sigma Capital Management maintains investment and
               voting power with respect to the securities held by Sigma Capital
               Associates. Mr. Cohen controls each of SAC Capital Advisors, SAC
               Capital Management, CR Intrinsic Investors and Sigma Capital
               Management. By reason of the provisions of Rule 13d-3 of the
               Securities Exchange Act of 1934, as amended, each of (i) SAC
               Capital Advisors, SAC Capital Management and Mr. Cohen may be
               deemed to own beneficially 582,900(1) Shares (constituting
               approximately 2.4% of the Shares outstanding); (ii) CR Intrinsic
               Investors and Mr. Cohen may be deemed to own beneficially
               565,000(2) Shares (constituting approximately 2.3% of the Shares
               outstanding); and (iii) Sigma Capital Management and Mr. Cohen
               may be deemed to own beneficially 210,000 Shares (constituting
               approximately 0.9% of the Shares outstanding). Each of SAC
               Capital Advisors, SAC Capital Management, CR Intrinsic Investors,
               Sigma Capital Management, and Mr. Cohen disclaim beneficial
               ownership of any of the securities covered by this statement.


                                 Page 14 of 17



Item 5         Ownership of Five Percent or Less of a Class:
               --------------------------------------------

               If this statement is being filed to report the fact that as of
               the date hereof the reporting person has ceased to be the
               beneficial owner of more than five percent of the class of
               securities, check the following. [ ]

Item 6         Ownership of More than Five Percent on Behalf of Another Person:
               ---------------------------------------------------------------

               Not Applicable

Item 7         Identification and Classification of the Subsidiary Which
               ---------------------------------------------------------
               Acquired the Security Being Reported on By the Parent Holding
               -------------------------------------------------------------
               Company:
               -------

               Not Applicable

Item 8         Identification and Classification of Members of the Group:
               ---------------------------------------------------------

               Not Applicable

Item 9         Notice of Dissolution of Group:
               ------------------------------

               Not Applicable

Item 10        Certification:
               -------------

     By signing below the signatory certifies that, to the best of his knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.


                                 Page 15 of 17



                                    SIGNATURE
                                    ---------

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

S.A.C. CAPITAL ADVISORS, LLC


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


S.A.C. CAPITAL MANAGEMENT, LLC


By: /s/ Peter Nussbaum 
   -----------------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


S.A.C. CAPITAL ASSOCIATES, LLC


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


S.A.C. MULTIQUANT FUND, LLC


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


CR INTRINSIC INVESTORS, LLC


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


                                  Page 16 of 17



CR INTRINSIC INVESTMENTS, LLC


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


SIGMA CAPITAL MANAGEMENT, LLC


By:  /s/ Peter Nussbaum
   -----------------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


SIGMA CAPITAL ASSOCIATES, LLC


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


STEVEN A. COHEN


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person

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