A peptide toxin was isolated from the cyanobacterium Nodularia spumigena by high performance liquid chromatography (HPLC). The i.p. LD50 of the toxin was 50 micrograms/kg mouse with death within 1-3 hr. The major effects of the toxin were seen in the liver in the form of extensive haemorrhages. Amino acid analysis showed the presence of equimolar amounts of glutamic acid, beta-methyl-aspartic acid, and arginine. The toxicological and some of the chemical properties of the isolated toxin were similar to those reported for hepatotoxins isolated from the cyanobacterium Microcystis aeruginosa.