Apophis is an asteroid with an slightly offset orbit to that of Earth's. Discovered in June 2004, astronomers have determined that it will make a very close flyby on April 13th, 2029, where it will pass to within 5 Earth diameters of us. The exact path the asteroid follows on its flyby in 2029 will determine whether it smashes into the Earth seven years later.
From those observations, astronomers calculated a 1-in-200 chance that the asteroid would hit the Earth. If this was true, then this asteroid had become the most dangerous asteroid ever found. After taking more observations , the chances climbed even higher and by the end of December 2004, the chances of the Earth being struck by this asteroid climbed as high as 1-in-37.
Normally, when more observations are taken the chances of this kind of collision decrease. Not so here, it seemed like this thing was really going to hit us.
Luckily, some other observations from other sources were located and they allowed astronomers to calculate a more precise orbit. From those images they were able to conclude that there was no way that Apophis was going to hit the Earth. Whew!