Filed Pursuant to Rule 424(b)(3)
                                            Registration Statement No. 333-53108


                              PROSPECTUS SUPPLEMENT
         (TO PROSPECTUS DATED JANUARY 26, 2001 AND PROSPECTUS SUPPLEMENT
                             DATED NOVEMBER 1, 2001)

                              NEOTHERAPEUTICS, INC.
                                  COMMON STOCK

               You should read this prospectus supplement, the accompanying
prospectus dated January 26, 2001 and the prospectus supplement dated November
1, 2001 carefully before you invest. These documents contain information you
should consider when making your investment decision. The information included
in the registration statement on Form S-3 (No. 333-53108) filed with the
Securities and Exchange Commission on January 2, 2001, as amended, is hereby
incorporated by reference into this prospectus supplement.

               Our common stock is traded on the Nasdaq National Market under
the symbol "NEOT." On November 9, 2001, the last sale price of our common stock
on the Nasdaq National Market was $4.45 per share.

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                          RECENT SALES OF COMMON STOCK

               During the two week period ended November 9, 2001, Cantor
Fitzgerald & Co. effected sales as underwriter under the registration statement
(No. 333-53108) of 949,710 shares of our common stock at a weighted average
price of $4.03 per share, for aggregate gross proceeds before underwriting
commission of $3,822,967. In connection with these sales, we paid aggregate
commission of $152,918.68 to Cantor Fitzgerald & Co. The sales were effected by
Cantor Fitzgerald & Co. through privately negotiated transactions at negotiated
prices.

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               INVESTING IN OUR COMMON STOCK INVOLVES A HIGH DEGREE OF RISK. SEE
"RISK FACTORS" BEGINNING ON PAGE S-3 OF THE PROSPECTUS SUPPLEMENT DATED NOVEMBER
1, 2001 TO READ ABOUT FACTORS YOU SHOULD CONSIDER BEFORE BUYING SHARES OF OUR
COMMON STOCK.

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               Neither the Securities and Exchange Commission nor any state
securities commission has approved or disapproved of these securities or passed
upon the accuracy or adequacy of the prospectus. Any representation to the
contrary is a criminal offense.

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                            [CANTOR FITZGERALD LOGO]



          THE DATE OF THIS PROSPECTUS SUPPLEMENT IS NOVEMBER 12, 2001.