Physalin K was isolated from Physalis alkekengi var. francheti. Spectroscopic studies and chemical correlations, however, revealed that the reported structure of physalin K at the AB ring moiety, namely, 4 alpha,5 alpha-epoxy-6 alpha-hydroxy-2-en-1-one, should be revised to 2 alpha,5 alpha-epidioxy-6 beta-hydroxy-3-en-1-one. A new physalin,named physalin Q, was also isolated and identified as the 2 beta,5 beta-epidioxy diastereomer of physalin K.