UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 2)*

COUGAR BIOTECHNOLOGY, INC.
(Name of Issuer)

Common Stock, $0.0001 Par Value
(Title of Class of Securities)

222083107
(CUSIP Number)

December 31, 2008
(Date of Event which Requires Filing
of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Page 1 of 12

------------------- ------------------
CUSIP No. 222083107 13G Page 2 of 12 Pages
------------------- ------------------

---------- ---------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 S.A.C. Capital Advisors, LLC
---------- ---------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
---------- ---------------------------------------------------------------------
 3 SEC USE ONLY

---------- ---------------------------------------------------------------------
 4 CITIZENSHIP OR PLACE OF ORGANIZATION

 Delaware
--------------------- ----- ----------------------------------------------------
 5 SOLE VOTING POWER

 0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 0 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
 8 SHARED DISPOSITIVE POWER

 0 (see Item 4)
---------- ---------------------------------------------------------------------
 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 0 (see Item 4)
---------- ---------------------------------------------------------------------
 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 [ ]
---------- ---------------------------------------------------------------------
 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 0% (see Item 4)
---------- ---------------------------------------------------------------------
 12 TYPE OF REPORTING PERSON*

 00
---------- ---------------------------------------------------------------------
 *SEE INSTRUCTION BEFORE FILLING OUT


 Page 2 of 12


------------------- ------------------
CUSIP No. 222083107 13G Page 3 of 12 Pages
------------------- ------------------

---------- ---------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 S.A.C. Capital Management, LLC
---------- ---------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
---------- ---------------------------------------------------------------------
 3 SEC USE ONLY

---------- ---------------------------------------------------------------------
 4 CITIZENSHIP OR PLACE OF ORGANIZATION

 Delaware
--------------------- ----- ----------------------------------------------------
 5 SOLE VOTING POWER

 0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 0 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
 8 SHARED DISPOSITIVE POWER

 0 (see Item 4)
---------- ---------------------------------------------------------------------
 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 0 (see Item 4)
---------- ---------------------------------------------------------------------
 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 [ ]
---------- ---------------------------------------------------------------------
 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 0% (see Item 4)
---------- ---------------------------------------------------------------------
 12 TYPE OF REPORTING PERSON*

 00
---------- ---------------------------------------------------------------------
 *SEE INSTRUCTION BEFORE FILLING OUT


 Page 3 of 12


------------------- ------------------
CUSIP No. 222083107 13G Page 4 of 12 Pages
------------------- ------------------

---------- ---------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 Sigma Capital Management, LLC
---------- ---------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
---------- ---------------------------------------------------------------------
 3 SEC USE ONLY

---------- ---------------------------------------------------------------------
 4 CITIZENSHIP OR PLACE OF ORGANIZATION

 Delaware
--------------------- ----- ----------------------------------------------------
 5 SOLE VOTING POWER

 0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 0 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
 8 SHARED DISPOSITIVE POWER

 0 (see Item 4)
---------- ---------------------------------------------------------------------
 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 0 (see Item 4)
---------- ---------------------------------------------------------------------
 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 [ ]
---------- ---------------------------------------------------------------------
 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 0% (see Item 4)
---------- ---------------------------------------------------------------------
 12 TYPE OF REPORTING PERSON*

 00
---------- ---------------------------------------------------------------------
 *SEE INSTRUCTION BEFORE FILLING OUT


 Page 4 of 12


------------------- ------------------
CUSIP No. 222083107 13G Page 5 of 12 Pages
------------------- ------------------

---------- ---------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 Sigma Capital Associates, LLC
---------- ---------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
---------- ---------------------------------------------------------------------
 3 SEC USE ONLY

---------- ---------------------------------------------------------------------
 4 CITIZENSHIP OR PLACE OF ORGANIZATION

 Anguilla, British West Indies
--------------------- ----- ----------------------------------------------------
 5 SOLE VOTING POWER

 0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 0 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
 8 SHARED DISPOSITIVE POWER

 0 (see Item 4)
---------- ---------------------------------------------------------------------
 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 0 (see Item 4)
---------- ---------------------------------------------------------------------
 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 [ ]
---------- ---------------------------------------------------------------------
 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 0% (see Item 4)
---------- ---------------------------------------------------------------------
 12 TYPE OF REPORTING PERSON*

 00
---------- ---------------------------------------------------------------------
 *SEE INSTRUCTION BEFORE FILLING OUT


 Page 5 of 12


------------------- ------------------
CUSIP No. 222083107 13G Page 6 of 12 Pages
------------------- ------------------

---------- ---------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 CR Intrinsic Investors, LLC
---------- ---------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
---------- ---------------------------------------------------------------------
 3 SEC USE ONLY

---------- ---------------------------------------------------------------------
 4 CITIZENSHIP OR PLACE OF ORGANIZATION

 Delaware
--------------------- ----- ----------------------------------------------------
 5 SOLE VOTING POWER

 0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 7,800 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
 8 SHARED DISPOSITIVE POWER

 7,800 (see Item 4)
---------- ---------------------------------------------------------------------
 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 7,800 (see Item 4)
---------- ---------------------------------------------------------------------
 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 [ ]
---------- ---------------------------------------------------------------------
 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 Less than 0.1% (see Item 4)
---------- ---------------------------------------------------------------------
 12 TYPE OF REPORTING PERSON*

 00
---------- ---------------------------------------------------------------------
 *SEE INSTRUCTION BEFORE FILLING OUT


 Page 6 of 12


------------------- ------------------
CUSIP No. 222083107 13G Page 7 of 12 Pages
------------------- ------------------

---------- ---------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 Steven A. Cohen
---------- ---------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
---------- ---------------------------------------------------------------------
 3 SEC USE ONLY

---------- ---------------------------------------------------------------------
 4 CITIZENSHIP OR PLACE OF ORGANIZATION

 United States
--------------------- ----- ----------------------------------------------------
 5 SOLE VOTING POWER

 0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 7,800 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
 8 SHARED DISPOSITIVE POWER

 7,800 (see Item 4)
---------- ---------------------------------------------------------------------
 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 7,800 (see Item 4)
---------- ---------------------------------------------------------------------
 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 [ ]
---------- ---------------------------------------------------------------------
 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 Less than 0.1% (see Item 4)
---------- ---------------------------------------------------------------------
 12 TYPE OF REPORTING PERSON*

 IN
---------- ---------------------------------------------------------------------
 *SEE INSTRUCTION BEFORE FILLING OUT


 Page 7 of 12


Item 1(a) Name of Issuer:

Cougar Biotechnology, Inc.

Item 1(b) Address of Issuer's Principal Executive Offices:

10990 Wilshire Boulevard, Suite 1200, Los Angeles, CA 90024

Items 2(a) Name of Person Filing:

This statement is filed by: (i) S.A.C. Capital Advisors, LLC ("SAC Capital Advisors") with respect to shares of common stock, $0.0001 par value ("Shares"), of the Issuer beneficially owned by S.A.C. MultiQuant Fund, LLC ("SAC MultiQuant Fund"); (ii) S.A.C. Capital Management, LLC ("SAC Capital Management") with respect to Shares beneficially owned by SAC MultiQuant Fund; (iii) Sigma Capital Management, LLC ("Sigma Management") with respect to Shares beneficially owned by Sigma Capital Associates, LLC ("Sigma Capital Associates"); (iv) Sigma Capital Associates with respect to Shares beneficially owned by it; (v) CR Intrinsic Investors, LLC ("CR Intrinsic Investors") with respect to Shares beneficially owned by CR Intrinsic Investments, LLC ("CR Intrinsic Investments") and (vi) Steven A. Cohen with respect to Shares beneficially owned by SAC Capital Advisors, SAC Capital Management, SAC MultiQuant Fund, Sigma Management, Sigma Capital Associates, CR Intrinsic Investors and CR Intrinsic Investments.

SAC Capital Advisors, SAC Capital Management, Sigma Management, Sigma Capital Associates, CR Intrinsic Investors and Steven A. Cohen have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 99.1, pursuant to which they have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended.

Item 2(b) Address of Principal Business Office:

The address of the principal business office of (i) SAC Capital Advisors, CR Intrinsic Investors and Mr. Cohen is 72 Cummings Point Road, Stamford, Connecticut 06902, (ii) SAC Capital Management and Sigma Management is 540 Madison Avenue, New York, New York 10022 and (iii) Sigma Capital Associates is P.O. Box 58, Victoria House, The Valley, Anguilla, British West Indies.

Item 2(c) Citizenship:

SAC Capital Advisors, SAC Capital Management, Sigma Management, CR Intrinsic Investors are Delaware limited liability companies. Sigma Capital Associates is an Anguillan limited liability company. Mr. Cohen is a United States citizen.

Page 8 of 12

Item 2(d) Title of Class of Securities:

Common Stock, $0.0001 par value

Item 2(e) CUSIP Number:

222083107

Item 3 Not Applicable

Item 4 Ownership:

The percentages used herein are calculated based upon the Shares issued and outstanding as of November 4, 2008 as reported on the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission for the quarterly period ended September 30, 2008.

As of the close of business on December 31, 2008:

1. S.A.C. Capital Advisors, LLC
(a) Amount beneficially owned: -0-
(b) Percent of class: 0%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: -0-

2. S.A.C. Capital Management, LLC
(a) Amount beneficially owned: -0-
(b) Percent of class: 0%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: -0-

3. Sigma Capital Management, LLC
(a) Amount beneficially owned: -0-
(b) Percent of class: 0%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: -0-

4. Sigma Capital Associates, LLC
(a) Amount beneficially owned: -0-
(b) Percent of class: 0%
(c)(i) Sole power to vote or direct the vote: -0-

Page 9 of 12

(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: -0-

5. CR Intrinsic Investors, LLC
(a) Amount beneficially owned: 7,800
(b) Percent of class: Less than 0.1%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 7,800
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:


7,800

6. Steven A. Cohen
(a) Amount beneficially owned: 7,800
(b) Percent of class: Less than 0.1%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 7,800
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:


7,800

SAC Capital Advisors, SAC Capital Management, Sigma Management, CR Intrinsic Investors and Mr. Cohen own directly no Shares. Pursuant to investment management agreements in effect at the time, each of SAC Capital Advisors and SAC Capital Management shared all investment and voting power with respect to the securities held by SAC MultiQuant Fund. Pursuant to an investment management agreement, Sigma Management maintains investment and voting power with respect to the securities held by Sigma Capital Associates. Pursuant to an investment management agreement, CR Intrinsic Investors maintains investment and voting power with respect to the securities held by CR Intrinsic Investments. Mr. Cohen controls each of SAC Capital Advisors, SAC Capital Management, Sigma Management and CR Intrinsic Investors. As of December 31, 2008, by reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended, each of CR Intrinsic Investors and Mr. Cohen may be deemed to own beneficially 7,800 Shares (constituting less than 0.1% of the Shares outstanding). Each of SAC Capital Advisors, SAC Capital Management, Sigma Management, CR Intrinsic Investors and Mr. Cohen disclaims beneficial ownership of any of the securities covered by this statement.

Item 5 Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following. [X]

Page 10 of 12

Item 6 Ownership of More than Five Percent on Behalf of Another

Person:

Not Applicable

Item 7 Identification and Classification of the

Subsidiary Which Acquired the Security Being
Reported on By the Parent Holding Company:

Not Applicable

Item 8 Identification and Classification of Members

of the Group:

Not Applicable

Item 9 Notice of Dissolution of Group:

Not Applicable

Item 10 Certification:

By signing below the signatory certifies that, to the best of his knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

Page 11 of 12

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: January 12, 2009

S.A.C. CAPITAL ADVISORS, LLC

By: /s/ Peter Nussbaum
 -------------------------------
Name: Peter Nussbaum
Title: Authorized Person

S.A.C. CAPITAL MANAGEMENT, LLC

By: /s/ Peter Nussbaum
 -------------------------------
Name: Peter Nussbaum
Title: Authorized Person

SIGMA CAPITAL MANAGEMENT, LLC

By: /s/ Peter Nussbaum
 -------------------------------
Name: Peter Nussbaum
Title: Authorized Person

SIGMA CAPITAL ASSOCIATES, LLC

By: /s/ Peter Nussbaum
 -------------------------------
Name: Peter Nussbaum
Title: Authorized Person

CR INTRINSIC INVESTORS, LLC

By: /s/ Peter Nussbaum
 -------------------------------
Name: Peter Nussbaum
Title: Authorized Person

STEVEN A. COHEN

By: /s/ Peter Nussbaum
 -------------------------------
Name: Peter Nussbaum
Title: Authorized Person

Page 12 of 12
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