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
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

CLARK ROSS G 		2. Issuer Name and Ticker or Trading Symbol

TERCICA INC [ TRCA ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
CHIEF TECHNICAL OFFICER
(Last)          (First)          (Middle)

2000 SIERRA POINT PARKWAY, SUITE 400 		3. Date of Earliest Transaction (MM/DD/YYYY)

3/25/2008
(Street)

BRISBANE, CA 94005
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   3/25/2008     A    10000   (1) A $0   80337   D    
Common stock                  556392   (2) I   By Boat Harbour Ltd.   (2)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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
Employee stock option (right to buy)   $6.13   3/25/2008     A     40000       3/25/2008   (3) 3/25/2018   Common stock   40000   $0   40000   D    

Explanation of Responses:
( 1)  Represents Restricted Stock Units (RSUs); 1/4th of the RSUs vest on 3/25/2009 and 1/4th of the total number of RSUs vest each year thereafter.
( 2)  Shares held by Boat Harbour Ltd., a Limited Liability Company organized under the laws of New Zealand ("Boat Harbour"). Dr. Clark disclaims beneficial ownership of the shares held by Boat Harbour, Ltd., except to the extent that Section 16(a) of the Securities and Exchange Act of 1934, as amended, deems him to have a pecuniary interest therein. Dr. Clark also disclaims ownership of the shares for any other purpose, including the U.S. Internal Revenue Code or other foreign tax laws.
( 3)  Pursuant to an early exercise provision, the option is exercisable on 3/25/2008 and is subject to repurchase rights in favor of the Issuer that lapse upon the vesting of the shares subject to the option. 1/4th of the shares subject to the option vest on 3/25/2009 and 1/48th of the total number of shares vest each month thereafter.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
CLARK ROSS G
2000 SIERRA POINT PARKWAY, SUITE 400
BRISBANE, CA 94005 		X
CHIEF TECHNICAL OFFICER

Signatures
/s/ Ajay Bansal, Attorney-in-Fact for Ross Clark 3/27/2008
** 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 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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