Ownership Submission
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, 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 *
  Smith David J.B.
 2. Date of Event Requiring Statement (Month/Day/Year)
10/30/2008		 3. Issuer Name and Ticker or Trading Symbol
PEPLIN INC [PLI]
(Last)
(First)
(Middle)
C/O PEPLIN, INC., 6475 CHRISTIE AVENUE		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CFO and Secretary
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

EMERYVILLE, CA 94608		 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 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)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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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 of Derivative Security: 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
Stock Option 07/01/2007 06/30/2009 Common Stock 1,500 $ 13.72 D  
Stock Option 01/01/2007 12/31/2009 Common Stock 1,167 $ 8.16 D  
Stock Option 01/01/2008 12/31/2010 Common Stock 1,300 $ 12.79 D  
Stock Option   (1) 08/08/2011 Common Stock 7,500 $ 12.98 D  
Stock Option   (2) 12/31/2011 Common Stock 5,000 $ 15.95 D  
Stock Option   (3) 12/02/2017 Common Stock 11,825 $ 13.81 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Smith David J.B.
C/O PEPLIN, INC.
6475 CHRISTIE AVENUE
EMERYVILLE, CA 94608		       CFO and Secretary  

Signatures

/s/ Candace Page, Attorney-in-Fact for David J.B. Smith 10/30/2008
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Options vested in equal installments of 2,500 options per year beginning 01/01/07, until fully vested on 01/01/09.
(2) 1,667 options vested on 01/01/07, 1,667 options vested on 01/01/08 and 1,666 options will vest on 01/01/09.
(3) The options will vest in forty-eight (48) successive monthly installments beginning 01/03/08 until fully vested on 12/03/11.

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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