U.S. SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                  SCHEDULE 13G
                    Under the Securities Exchange Act of 1934

                               Novoste Corporation
                ------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
                ------------------------------------------------
                         (Title of Class of Securities)

                                    67010C100
                ------------------------------------------------
                                 (CUSIP Number)

                                December 31, 2004
           -----------------------------------------------------------
             (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 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).






CUSIP No. 67010C100
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1)   Names of Reporting Persons
     I.R.S. Identification Nos. of Above Persons (Entities Only)

     Trellus Management Company, LLC  (13-3807183)
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2)   Check the Appropriate Box if a Member of a Group (See Instructions)

        (A) [ ]
        (B) [ ]
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3)   SEC Use Only

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4)   Citizenship or Place of Organization

         DELAWARE LIMITED LIABILITY COMPANY
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Number of Shares Beneficially Owned by Each Reporting Person With:

        5) Sole Voting Power

          0
        -----------------------------------------------
        6) Shared Voting Power

          838,429
        -----------------------------------------------
        7) Sole Dispositive Power

          0
        -----------------------------------------------
        8) Shared Dispositive Power

           838,429
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9)   Aggregate Amount Beneficially Owned by Each Reporting Person

            838,429
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10)   Check if the Aggregate Amount in Row (9) Excludes Certain Shares
      (See Instructions)

         [ ]
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11)   Percent of Class Represented by Amount in Row (9)

       5.13%
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12)   Type of Reporting Person (See Instructions)

         OO
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CUSIP No.  67010C100

1)   Names of Reporting Persons
     I.R.S. Identification Nos. of Above Persons (Entities Only)

         Adam Usdan
----------------------------------------------------------------------------
2)   Check the Appropriate Box if a Member of a Group (See Instructions)

        (A) [ ]
        (B) [ ]
-----------------------------------------------------------------------------
3)   SEC Use Only

-----------------------------------------------------------------------------
4)   Citizenship or Place of Organization

        USA
-----------------------------------------------------------------------------
Number of Shares Beneficially Owned by Each Reporting Person With:

        5) Sole Voting Power

             0
        -----------------------------------------------
        6) Shared Voting Power

             838,429
        -----------------------------------------------
        7) Sole Dispositive Power

            0
        -----------------------------------------------
        8) Shared Dispositive Power

            838,429
-----------------------------------------------------------------------------
9)   Aggregate Amount Beneficially Owned by Each Reporting Person

           838,429
-----------------------------------------------------------------------------
10)  Check if the Aggregate Amount in Row (9) Excludes Certain Shares
     (See Instructions)

         [ ]
-----------------------------------------------------------------------------
11)  Percent of Class Represented by Amount in Row (9)

         5.13%
-----------------------------------------------------------------------------
12)  Type of Reporting Person (See Instructions)

        IN
-----------------------------------------------------------------------------


                                       3


Item 1. (a) Name of Issuer:

          Novoste Corporation

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

      3890 Steve Reynolds Blvd.
      Norcross, Georgia  30093
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Item 2. (a) Name of Person Filing:

      Trellus Management Company, LLC
      Adam Usdan

        (b) Address of Principal Business Office or, if none, Residence:

      350 Madison Avenue, 9th Floor
      New York, New York  10017

        (c) Citizenship:

      Trellus Management Company, LLC is a Delaware limited liability company.
Adam Usdan is a citizen of the United States.

         (d) Title of Class of Securities:

               Common Stock

      (e) CUSIP Number: 67010C100
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Item 3. If this statement is being filed pursuant to Rule 13d-1(b) or (c), or
        13d-2(b), check whether the person filing is:

     (a) [ ] Broker or dealer registered under Section 15 of the Act
     (b) [ ] Bank as defined in section 3(a)(6) of the Act
     (c) [ ] Insurance company as defined in section 3(a)(19) of the Act
     (d) [ ] Investment company registered under section 8 of the Investment
                Company Act of 1940
     (e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E)
     (f) [ ] An employee benefit plan or endowment fund in accordance with Rule
                13d-1(b)(1)(ii)(F)
     (g) [ ] A parent holding company or control person in accordance with Rule
                13d-1(b)(ii)(G)
     (h) [ ] A savings association as defined in Section 3(b) of the Federal
                Deposit Insurance Act
     (i) [ ] A church plan that is excluded from the definition of an investment
                company under Section 3(c)(14) of the Investment Company Act of
                1940

     (j) [ ] Group, in accordance with 13d-1(b)(1)(ii)(J)

                                       4


Item 4. Ownership:

     (a) Amount Beneficially Owned:                                    838,429*

     (b) Percent of Class:
                                                                          5.13%

     (c) Number of Shares as to which such person has:

          (i)   Sole power to vote or direct the vote:                    0

          (ii)  Shared power to vote or direct the vote:               838,429*

          (iii) Sole power to dispose or direct the disposition of:       0

          (iv)  Shared power to dispose or direct the disposition of:  838,429*

      *See Attachment A.
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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

           [ ]
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Item 6. Ownership of More than Five Percent on Behalf of Another Person:

        Various other persons have the right to receive or the power to direct
the receipt of dividends from, or proceeds from sale of, the securities whose
ownership is reported on this Schedule 13G. No other person's interest in such
securities relates to more than five percent of the class.
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Item 7. Identification and Classification of the Subsidiary which Acquired the
Security Being Reported on By the Parent Holding Company
           N/A
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Item 8. Identification and Classification of Members of the Group

           N/A
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Item 9. Notice of Dissolution of Group

           N/A
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Item 10. Certification

     By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the ordinary
course of business and 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.


                                    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.


                           By:  Trellus Management Company, LLC


                                        /s/ Anthony G. Miller
                                  -------------------------------------------
                                        Name:  Anthony G. Miller
                                        Title: Chief Financial Officer


                                        /s/ Adam Usdan
                                  ---------------------------------------------
                                        Adam Usdan



 Date:  February 3, 2005



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                                  ATTACHMENT A

         As of  December 31, 2004, Trellus Management Company, LLC ("Trellus")
was the beneficial owner of 838,429 shares of Common Stock of Novoste
Corporation ("Common Stock") for a total beneficial ownership of 5.13% of the
outstanding shares of Common Stock. Adam Usdan is the President of Trellus.
Trellus and Adam Usdan are shown as sharing voting power and dispositive power
of the same 838,429 shares of Common Stock.

                                  ATTACHMENT B

                            AGREEMENT OF JOINT FILING

         In accordance with Rule 13d-1(k) under the Securities Exchange Act of
1934, as amended, the undersigned hereby agree to the joint filing with all
other persons signatory below of a statement on Schedule 13G or any amendments
thereto, with respect to the Common Stock of Novoste Corporation and that this
Agreement be included as an attachment to such filing.

         This Agreement may be executed in any number of counterparts each of
which shall be deemed to be an original and all of which together shall be
deemed to constitute one and the same Agreement.



         IN WITNESS WHEREOF, the undersigned hereby execute this Agreement on
the 3rd day of February, 2005.


                        By:  Trellus Management Company, LLC


                                        /s/ Anthony G. Miller
                                  -------------------------------------------
                                        Name:  Anthony G. Miller
                                        Title: Chief Financial Officer


                                        /s/ Adam Usdan
                                  ---------------------------------------------
                                        Adam Usdan




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