Certain partly ordered protein conformations, commonly called ''molten
globule states,'' are widely believed to represent protein folding in
termediates. Recent structural studies of molten globule states of dif
ferent proteins have revealed features which appear to be general in s
cope. The emerging consensus is that these partly ordered forms exhibi
t a high content of secondary structure, considerable compactness, non
specific tertiary structure, and significant structural flexibility. T
hese characteristics may be used to define a general state of protein
folding called ''the molten globule state,'' which is structurally and
thermodynamically distinct from both the native state and the denatur
ed state. Despite extensive knowledge of structural features of a few
molten globule states, a cogent thermodynamic argument for their stabi
lity has not yet been advanced. The prevailing opinion of the last dec
ade was that there is little or no enthalpy difference or heat capacit
y difference between the molten globule state and the unfolded state.
This view, however, appears to be at variance with the existing databa
se of protein structural energetics and with recent estimates of the e
nergetics of denaturation of alpha-lactalbumin, cytochrome c, apomyogl
obin, and T4 lysozyme. We discuss these four proteins at length. The r
esults of structural studies, together with the existing thermodynamic
values for fundamental interactions in proteins, provide the foundati
on for a structural thermodynamic framework which can account for the
observed behaviour of molten globule states. Within this framework, we
analyze the physical basis for both the high stability of several mol
ten globule states and the low probability of other potential folding
intermediates. Additionally, we consider, in terms of reduced enthalpy
changes and disrupted cooperative interactions, the thermodynamic bas
is for the apparent absence of a thermally induced, cooperative unfold
ing transition for some molten globule states.