<SUBMISSION>
<ACCESSION-NUMBER>0001312857-04-000001
<TYPE>3
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20040819
<FILING-DATE>20041228
<DATE-OF-FILING-DATE-CHANGE>20041228
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>ASPENBIO INC
<CIK>0001167419
<ASSIGNED-SIC>2835
<IRS-NUMBER>841553387
<STATE-OF-INCORPORATION>CO
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>1585 S. PERRY STREET
<STREET2>ASPENBIO INC.
<CITY>CASTLE ROCK
<STATE>CO
<ZIP>80104
<PHONE>(303) 794-2000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1585 S. PERRY STREET
<STREET2>ASPENBIO INC.
<CITY>CASTLE ROCK
<STATE>CO
<ZIP>80104
</MAIL-ADDRESS>
</ISSUER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>Talon Opportunity Managers, L.L.C.
<CIK>0001312857
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>3
<ACT>34
<FILE-NUMBER>000-50019
<FILM-NUMBER>041228602
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>C/O TALON ASSET MANAGEMENT, INC.
<STREET2>ONE NORTH FRANKLIN, SUITE 900
<CITY>CHICAGO
<STATE>IL
<ZIP>60606
<PHONE>312.422.5400
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>C/O TALON ASSET MANAGEMENT, INC.
<STREET2>ONE NORTH FRANKLIN, SUITE 900
<CITY>CHICAGO
<STATE>IL
<ZIP>60606
</MAIL-ADDRESS>
</REPORTING-OWNER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>Talon Opportunity Partners, L.P.
<CIK>0001312859
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>3
<ACT>34
<FILE-NUMBER>000-50019
<FILM-NUMBER>041228601
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>C/O TALON ASSET MANAGEMENT, INC.
<STREET2>ONE NORTH FRANKLIN, SUITE 900
<CITY>CHICAGO
<STATE>IL
<ZIP>60606
<PHONE>312.422.5400
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>C/O TALON ASSET MANAGEMENT, INC.
<STREET2>ONE NORTH FRANKLIN, SUITE 900
<CITY>CHICAGO
<STATE>IL
<ZIP>60606
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-08-19</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001167419</issuerCik>
        <issuerName>ASPENBIO INC</issuerName>
        <issuerTradingSymbol>apbn</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001312857</rptOwnerCik>
            <rptOwnerName>Talon Opportunity Managers, L.L.C.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O TALON ASSET MANAGEMENT, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>ONE NORTH FRANKLIN, SUITE 900</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60606</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001312859</rptOwnerCik>
            <rptOwnerName>Talon Opportunity Partners, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O TALON ASSET MANAGEMENT, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>ONE NORTH FRANKLIN, SUITE 900</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60606</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>common stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1142857</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>common stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1142857</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote 3</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>warrants (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.5</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-08-20</value>
            </exerciseDate>
            <expirationDate>
                <value>2009-07-30</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1142857</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>warrants (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.5</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-08-20</value>
            </exerciseDate>
            <expirationDate>
                <value>2009-07-30</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1142857</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote 3</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On a 13G filed August 27, 2004, this number was inadvertently understated by one share.</footnote>
        <footnote id="F2">These securities are owned directly by Talon Opportunity Partners, L.P. (&quot;Limited Partnership&quot;).</footnote>
        <footnote id="F3">As the General Partner to the Limited Partnership, Talon Opportunity Managers, L.L.C. may be deemed to be the beneficial owner of the Issuer's securities held by the Limited Partnership.  Talon Opportunity Managers, L.L.C. disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities representing Talon Opportunity Managers, L.L.C.'s pro rata interest in, and interest in the profits of the Limited Partnership.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Terry Diamond</signatureName>
        <signatureDate>2004-12-28</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
