UNITED STATES
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

         Date of Report (Date of earliest event reported) April 16, 1998

                              NEOTHERAPEUTICS, INC.
             (Exact name of registrant as specified in its charter)

          Delaware                     0-28782                   93-0979187
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 (State or other jurisdiction       (Commission                (IRS Employer
     (of incorporation)             File Number)             Identification No.)

                 157 Technology Drive, Irvine, California 92618
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               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (714) 788-6700

                                 Not Applicable
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          (Former name or former address, if changed since last report)

                             Exhibit Index on Page 3



           Reference is made to the press release issued to the public by the
Registrant on April 16, 1998, the text of which is attached hereto as Exhibit
99.1, for a description of the events reported pursuant to this Form 8-K.



                 99.1               PRESS RELEASE DATED APRIL 16, 1998.


           Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                                 NEOTHERAPEUTICS, INC.

Date: April 16, 1998                             By:    /s/Samuel Gulko
                                                     Samuel Gulko
                                                     Chief Financial Officer


                                  EXHIBIT INDEX

        EXHIBITS                                    DESCRIPTION
        --------                                    -----------
         99.1                            Press Release dated April 16, 1998
                                                                    EXHIBIT 99.1

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Contact:          NeoTherapeutics, Inc.                       Ruder Finn, Inc.
                  Carol Hess, Investor Relations              Robert D. Ferris
                  Tel:  714-788-6700                          Tel:  212-715-1573
                  Fax:  714-788-6706                          Fax:  212-715-1660


Irvine, California, April 16, 1998 - NeoTherapeutics, Inc. (NASDAQ: NEOT, NEOTW)
announced today that research results on its Alzheimer's disease compound,
AIT-082, were presented at the Fifth International Geneva/Springfield Symposium
on Advances in Alzheimer Therapy in Geneva, Switzerland.

Michel Rathbone, MD, Ph.D., of the Departments of Biomedical Sciences and
Medicine (Neurology), McMaster University, Hamilton, Ontario, Canada reported
that AIT-082 enhanced memory function in both young adult and aged mice within
two hours after oral administration. Further, prophylactic treatment with
AIT-082 prevented or delayed the onset of age-induced memory deficits in mice
when administered in the drinking water. When memory impairment was produced by
specific brain lesions, AIT-082 restored memory performance and increased the
genetic expression of neurotrophin-3 (NT-3), a natural protein growth factor
associated with nerve cell function. In Phase I clinical trials with Alzheimer's
patients, no serious side effects were observed at single oral doses from 10 to
4,000 milligrams. In addition, AIT-082 was rapidly absorbed and remained in the
blood sufficiently long enough to suggest that once daily dosing may be

Dr. Rathbone commented on the potential of AIT-082, stating "AIT-082 totally
alters the way we think about treating Alzheimer's disease and other
neurological disorders. Until now, Alzheimer's disease therapy has focused on
replacing chemicals in the brain which dying cells can no longer produce.
AIT-082 is quite different; it appears to enhance the latent capability of the
nervous system to protect nerve cells, to resist damage and to stimulate the
intrinsic repair mechanisms in the brain. Currently, AIT-082 is in clinical
trials for Alzheimer's disease, but its mechanism of action suggests that it may
eventually be useful in the treatment of a number of neurological disorders."
His presentation is entitled "AIT-082, A Unique Purine with Neuroregenerative

NeoTherapeutics, based in Irvine, California, is a publicly traded
biopharmaceutical company dedicated to the discovery and development of drugs
that act on the central nervous system to repair nerve cells and treat
neurological diseases and conditions such as Alzheimer's disease, memory
deficits associated with aging, spinal cord injury, Parkinson's disease, stroke,
depression, and migraine. NeoTherapeutics' products are orally administered and
based on patented technologies.


This press release contains forward-looking statements regarding future events
and the future performance of NeoTherapeutics that involve risks and
uncertainties that could cause actual results to differ materially. These risks
include but are not limited to, the biological activity, side effect profile and
efficacy of AIT-082, the early stage of product development, the initiation and
completion of clinical trials and the dependence on third parties for clinical
testing, manufacturing and marketing. These risks are described in further
detail in the Company's annual and quarterly reports filed with the Securities
and Exchange Commission.

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