EXHIBIT 99.1


               NEOTHERAPEUTICS ANNOUNCES PRELIMINARY RESULTS FROM
             CLINICAL STUDY OF NEOTROFIN(TM) IN ALZHEIMER'S DISEASE


         COMPANY AWAITS RESULTS FROM ADDITIONAL STUDIES IN PARKINSON'S
        DISEASE, SPINAL CORD INJURY AND CHEMOTHERAPY-INDUCED NEUROPATHY

IRVINE, Calif., April 29, 2002 -- NeoTherapeutics, Inc. (NASDAQ: NEOT) today
reported that based on preliminary analysis, some Alzheimer's patients taking
its lead drug Neotrofin experienced improvement in ADAS-cog scores and clinical
global change ratings, which were the primary endpoints for the trial, but that
overall, these results did not achieve statistical significance favoring
Neotrofin over placebo for the pre-determined pivotal 12-week endpoints
necessary to meet U.S. Food and Drug Administration requirements for approval in
Alzheimer's disease. The Company is awaiting results from studies of Neotrofin
in Parkinson's disease, spinal cord injury and chemotherapy-induced neuropathy,
and plans to seek a co-development partner for Neotrofin prior to initiating
additional clinical studies of the drug.

"Neotrofin has been shown, in animal models, to be biologically active in
neuroprotection, the release of neurotrophic factors and stimulating stem cell
proliferation. We are disappointed that the study did not produce statistically
significant results at 12 weeks that would support regulatory approval in
Alzheimer's disease," stated Alvin J. Glasky, Ph.D., Chairman and Chief
Executive Officer of NeoTherapeutics. "We will await further analysis, as well
as results from our ongoing phase 2 studies of Neotrofin in other indications
and the conclusion of discussions with potential co-development partners, prior
to moving forward with additional clinical studies of Neotrofin. Going forward,
we will increase our focus on the many exciting opportunities that we have at
NeoTherapeutics such as our late-stage anti-cancer drugs, our anti-psychotic
platform and our genomics division."

Phase 2 studies of Neotrofin are ongoing in Parkinson's disease, spinal cord
injury and chemotherapy-induced neuropathy. Twenty-eight and thirty-three
patients have been enrolled in the Parkinson's disease and spinal cord injury
studies, respectively. The Company expects to complete these studies by
year-end. Two studies of Neotrofin in chemotherapy-induced neuropathy were
initiated in January of 2002. The results of these trials are anticipated in
2003.

"Over the past 18 months we have embarked on a strategy to broaden our product
portfolio and expand the testing of Neotrofin to a variety of neurological
indications in 2001," stated Rajesh C. Shrotriya, M.D., President and Chief
Operating Officer of NeoTherapeutics. "Our success in licensing in late stage
drugs, like satraplatin, and launching studies of Neotrofin in more clear-cut
indications, such as chemotherapy-induced neuropathy, provide us with attractive
opportunities to create value. We plan to hold off on further pursuit of the
Alzheimer's indication until we find a partner. We anticipate that this will
reduce our expected burn rate from approximately $2.3 million to less than $1.5
million per month, and will allow our clinical development group to focus their
attention on clinical trials of our phase 3 anti-cancer drug, satraplatin."



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NeoTherapeutics seeks to create value for stockholders through in-licensing and
commercialization of anti-cancer drugs, the discovery and development of central
nervous system (CNS) drugs, and the licensing out of new drug targets discovered
through genomics research. The Company's lead oncology drug, satraplatin, is
being prepared for a phase 3 study in prostate cancer. Phase 2 studies of
Neotrofin(TM) in Parkinson's disease, spinal cord injury and
chemotherapy-induced neuropathy are ongoing. Additional anti-cancer drugs are in
phase 1 and 2 human clinical trials, and the Company has a rich pipeline of
pre-clinical neurological drug candidates. For additional information visit the
Company's web site at www.neot.com.

This press release may contain 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
are described in further detail in the Company's reports filed with the
Securities and Exchange Commission.

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