Dusa Pharmaceuticals, Inc.

Headnote

Confidentiality -- Application by an issuer for a decision that a draft version of a Form 8-K inadvertently filed on SEDAR pursuant to section 4.2 of National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers be held in confidence for an indefinite period by the Commission, to the extent permitted by law -- Issuer subsequently filed and made public on SEDAR the correct final version of the Form 8-K.

Applicable Legislative Provisions

Securities Act, R.S.O. 1990, c. S.5, as am., ss. 140(1), 140(2).

IN THE MATTER OF

THE SECURITIES ACT,

R.S.O. 1990, c. S. 5 (the Act)

AND

IN THE MATTER OF

DUSA PHARMACEUTICALS, INC.

(the Filer)

DECISION

Background

The Ontario Securities Commission (the Commission) has received an application from the Filer for a decision under subsection 140(2) of the Act that a draft version of a Form 8-K dated September 6, 2011 (the Draft Form 8-K) and filed on the System for Electronic Document Analysis and Retrieval (SEDAR) on September 6, 2011 pursuant to section 4.2 of National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers (NI 71-102) be held in confidence for an indefinite period, to the extent permitted by law (the Exemption Sought).

The Filer further requests (the Confidentiality Sought) that:

(i) the application, except for the exhibit comprising the Draft Form 8-K (the Exemption Sought Document), and this decision document issued in respect thereof be held in confidence until the earlier of (i) the date the Filer advises the principal regulator that there is no longer any need for the application and this decision to remain confidential; and (b) the date that is 30 days after the date of this decision; and

(ii) the Exemption Sought Document be held in confidence for an indefinite period, to the extent permitted by law.

Interpretation

Terms defined in National Instrument 14-101 Definitions and NI 71-102 have the same meaning if used in this decision, unless otherwise defined.

Representations

This decision is based on the following facts represented by the Filer:

1. The Filer is a New Jersey corporation, having its principal office in Wilmington, Massachusetts. It filed its certificate of incorporation on February 21, 1991.

2. The Filer is a reporting issuer in Ontario and is an SEC foreign issuer. The Filer's common shares are not listed in Canada. The common shares of the Filer are listed on the NASDAQ Global Market. No other shares of the Filer are listed publicly.

3. The Filer is not, to its knowledge, on the list of defaulting reporting issuers.

4. On September 6, 2011, the Filer filed with the SEC a Form 8-K (the Final Form 8-K) under the 1934 Act disclosing that it had terminated its Marketing, Distribution and Supply Agreement with Daewoong Pharmaceuticals, Co., LTD, and DNC Daewoong Derma & Plastic Surgery Network Company.

5. The Filer intended to file the Final Form 8-K pursuant to section 4.2 of NI 71-102 in order to satisfy requirements relating to disclosure of material changes. However, the Filer inadvertently filed the Draft Form 8-K The Filer learned of this error a few hours after the filing of the Draft Form 8-K.

6. On September 6, 2011, the Filer filed on SEDAR the Final Form 8-K in which certain portions containing intimate financial, personal or other information have been omitted (the Omitted Information).

7. The Omitted Information does not contain information in relation to the Filer or the securities of the Filer that would be material to an investor.

8. The Filer acknowledges that making the Draft Form 8-K private on SEDAR does not guarantee that the Draft Form 8-K is not available elsewhere in the public domain.

Decision

The Commission is satisfied that the Omitted Information discloses intimate financial, personal or other information and that the desirability of avoiding disclosure thereof in the interests of any person or company affected outweighs the desirability of adhering to the principle that material filed with the Commission be available to the public for inspection.

The decision of the Commission is that the Exemption sought is granted.

The further decision of the Commission is that the Confidentiality Sought is granted.

Signed this 22nd day of November, 2011.