FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* SABBY MANAGEMENT, LLC (Last) (First) (Middle) 10 MOUNTAINVIEW ROAD SUITE 205 (Street) UPPER SADDLE RIVER NJ 07458 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 10/23/2012	3. Issuer Name and Ticker or Trading Symbol NUPATHE INC. [ path ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series A Preferred Stock	10/23/2012(5)	(3)	Common Stock	2,500,000(1)	2	I	Investment Manager(1)(2)
Warrant	04/23/2013	10/23/2017	Common Shares	2,500,000(4)	2	I(2)(4)	Investment Manager

1. Name and Address of Reporting Person* SABBY MANAGEMENT, LLC (Last) (First) (Middle) 10 MOUNTAINVIEW ROAD SUITE 205 (Street) UPPER SADDLE RIVER NJ 07458 (City) (State) (Zip)

1. Name and Address of Reporting Person* Sabby Healthcare Volatility Master Fund, Ltd. (Last) (First) (Middle) C/O SABBY MANAGEMENT, LLC 10 MOUNTAINVIEW ROAD, SUITE 205 (Street) UPPER SADDLE RIVER NJ 07458 (City) (State) (Zip)

1. Name and Address of Reporting Person* Mintz Hal (Last) (First) (Middle) C/O SABBY MANAGEMENT, LLC 10 MOUNTAINVIEW ROAD, SUITE 205 (Street) UPPER SADDLE RIVER NJ 07458 (City) (State) (Zip)

Explanation of Responses:

1. Sabby Healthcare Volatility Master Fund, Ltd. owns Series A Preferred Stock convertible into 2,000,000 common shares and Sabby Volatility Warrant Master Fund owns Series A Preferred Stock convertible into 500,000 common shares.

2. The securities are held by Sabby Healthcare Volatility Master Fund, Ltd. ("SHVMF") and Sabby Volatility Warrant Master Fund, Ltd. ("SVWMF"). Sabby Management, LLC serves as investment manager of SHVMF and SVWMF, Hal Mintz is the manager of Sabby Management, LLC and Hal Mintz and Sabby Management, LLC disclaim beneficial ownership of these securities except to the extent of any pecuniary interest therein.

3. There is no expiration date.

4. SHVMF owns warrants exercisable into 2,000,000 common shares and SVWMF owns warrants exercisable into 500,000 common shares. The warrants contain a limitation on exercise prohibiting any holder from exercising warrants if as a result of such exercise the holder and is affiliates would in the aggregate exceed 4.999% of the issuer's outstanding common stock.

5. This is the first date the securities can be converted.

	/s/ Robert Grundstein, Chief Operating Officer	10/25/2012
	/s/ Barbars Austin, as Authorized Person of a Director	10/25/2012
	/s/ Hal Mintz	10/25/2012
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (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).
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