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 *
Sirgo Mark A
  2. Issuer Name and Ticker or Trading Symbol
BIODELIVERY SCIENCES INTERNATIONAL INC [BDSI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President and CEO
(Last)
(First)
(Middle)
C/O BIODELIVERY SCIENCES INTL, INC.,, 4131 PARKLAKE AVENUE, SUITE 225
3. Date of Earliest Transaction (Month/Day/Year)
09/14/2017
(Street)

RALEIGH, NC 27612
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 09/14/2017   S   50,000 D $ 2.95 (1) 1,509,262 D  
Common Stock 09/15/2017   M   45,421 A $ 1.78 1,554,683 D  
Common Stock (2) 09/15/2017   M   33,026 A $ 1.96 1,587,709 D  
Common Stock 09/15/2017   S   54,833 D $ 2.9 1,532,876 D  
Common Stock 09/18/2017   S   6,000 D $ 2.85 1,526,876 D  
Common Stock (3) 09/19/2017   M   13,661 A $ 2.01 1,540,537 D  
Common Stock 09/19/2017   S   24,516 D $ 2.75 1,516,022 D  
Common Stock 09/20/2017   M   25,000 A $ 2.26 1,541,022 D  
Common Stock (4) 09/20/2017   M   34,265 A $ 2.43 1,575,286 D  
Common Stock 09/20/2017   S   65,405 D $ 2.75 (5) 1,509,881 D  
Common Stock 09/21/2017   S   619 D $ 2.75 1,509,262 D  

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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
Options $ 1.78 09/15/2017   M     45,421 02/09/2013 02/09/2022 Common Stock 45,421 $ 0 0 D  
Options (2) $ 1.96 09/15/2017   M     33,026 02/15/2013 02/15/2022 Common Stock 33,026 $ 0 0 D  
Options (3) $ 2.01 09/19/2017   M     13,661 07/24/2009 07/24/2018 Common Stock 6,902 $ 0 0 D  
Options $ 2.26 09/20/2017   M     25,000 07/21/2011 07/21/2020 Common Stock 25,000 $ 0 0 D  
Options (4) $ 2.43 09/20/2017   M     34,265 07/21/2011 07/21/2020 Common Stock 34,265 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Sirgo Mark A
C/O BIODELIVERY SCIENCES INTL, INC.,
4131 PARKLAKE AVENUE, SUITE 225
RALEIGH, NC 27612
  X     President and CEO  

Signatures

 /s/ Mark A. Sirgo   09/22/2017
**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) On September 14, 2017, the Reporting Person sold an aggregate of 50,000 shares of the Issuer's Common Stock at a weighted average price of $2.95 per share. The highest sale price for the Common Stock was $2.98 per share and the lowest sale price was $2.90 per share. The Reporting Person undertakes to provide the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(2) The options exercised were acquired from September 15, 2017 to September 19, 2017.
(3) The options exercised were acquired from September 19, 2017 to September 20, 2017.
(4) The options exercised were acquired from September 20, 2017 to September 21, 2017.
(5) On September 20, 2017, the Reporting Person sold an aggregate of 65,405 shares of the Issuer's Common Stock at a weighted average price of $2.75 per share. The highest sale price for the Common Stock was $2.78 per share and the lowest sale price was $2.75 per share. The Reporting Person undertakes to provide the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
 
Remarks:
The Form 4 was due on September 18, 2017 but filed on September 22, 2017 to accommodate multiple connected transactions over several days all on one concise Form 4.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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