Washington, D.C. 20549

                                  FORM 12b-25

                                                       SEC FILE NUMBER 000-28782

                          NOTIFICATION OF LATE FILING

(Check One):
[X] Form 10-K   [ ] Form 20-F   [ ] Form 11-K   [ ] FORM 10-Q   [ ] Form N-SAR

                        For Period Ended: December 31, 2001

[   ]   Transition Report on Form 10-K    [   ]  Transition Report on Form 10-Q
[   ]   Transition Report on Form 20-F    [   ]  Transition Report on Form N-SAR
[   ]   Transition Report on Form 11-K

For the Transition Period Ended:________________________________________________

Read Instruction (on back page) Before Preparing Form. Please Print or Type.

     Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.

     If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:


Full Name of Registrant

Former Name if Applicable

Address of Principal Executive Office (Street and Number)

IRVINE, CA 92618
City, State and Zip Code

PART II--RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following
should be completed.  (Check box if appropriate)

         [X]        (a)     The reasons described in reasonable detail in Part
                            III of this form could not be eliminated without
                            unreasonable effort or expense;

         [X]        (b)     The subject annual report, semi-annual report,
                            transition report on Form 10-K, Form 20-F, Form
                            11-K, Form N-SAR, or portion thereof, will be filed
                            on or before the fifteenth calendar day following
                            the prescribed due date; or the subject quarterly
                            report or transition report on Form 10-Q, or portion
                            thereof will be filed on or before the fifth
                            calendar day following the prescribed due date; and

                    (c)     The accountant's statement or other exhibit required
                            by Rule 12b-25(c) has been attached if applicable.


State below in reasonable detail the reasons why Forms 10-K and Form 10-KSB,
20F, 11-K, 10-Q, and 10-QSB, N-SAR or the transition report portion thereof
could not be filed within the prescribed time period.

The Company has been unable to complete the Form 10-K in a timely manner without
unreasonable effort and expense because the Company operates with limited
administrative personnel who have been engaged in negotiating a major financial
transaction. In addition, if the Company successfully completes such
negotiations, the transaction may significantly impact the disclosures contained
in the Form 10-K. Therefore, the Company hereby requests additional time in
which to file its Form 10-K to ensure that the disclosures in the Form 10-K are
accurate and correct.


(1)  Name and telephone number of person to contact in regard to this

             SAMUEL GULKO                     (949)              788-6700
     ----------------------------------   --------------   ---------------------

(2)  Have all other periodic reports required under Section 13 or 15(d) of the
     Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
     of 1940 during the preceding 12 months (or for such shorter) period that
     the registrant was required to file such reports) been filed? If answer is
     no, identify report(s).
                                                                [X] Yes   [ ] No


(3)  Is it anticipated that any significant change in results of operations from
     the corresponding period for the last fiscal year will be reflected by the
     earnings statements to be included in the subject report or portion
                                                                [X] Yes   [ ] No

     If so, attach an explanation of the anticipated change, both narratively
     and quantitatively, and, if appropriate, state the reasons why a
     reasonable estimate of the results cannot be made.

The Company expects to report a net loss of approximately $28 million for its
fiscal year ended December 31, 2001 as compared to a net loss of approximately
$46 million for its fiscal year ended December 31, 2000.  The decrease in the
net loss was due primarily to the Company internally managing the majority of
its clinical trials instead of using more expensive outside clinical research
organizations.  The Company previously announced these results in a press
release dated March 14, 2002.

                             NeoTherapeutics, Inc.
                  (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

Date      April 1, 2001            By  /s/ SAMUEL GULKO
     ---------------------------        ----------------------------------------
                                        SAMUEL GULKO, CHIEF FINANCIAL OFFICER