| Delaware                                                      |   | 20-1499421                       |
|---------------------------------------------------------------|--------|----------------------------------|
| (State or Other Jurisdictionof Incorporation or Organization) |   | (IRS EmployerIdentification No.) |
|                                                          |   |                             |
| 10757 South River Front Pkwy, Suite 125                       |   |                             |
| South Jordan, Utah                                            |   | 84095                            |
| (Address of Principal Executive Offices)                      |   | (Zip Code)                       |

|   | (801) 816-2533                                       |   |
|--------|------------------------------------------------------|--------|
|   | Issuer’s Telephone Number, Including Area Code |   |
|   |                                                 |   |

----

Table of Contents

----

Table of Contents

| ITEM 1. | FINANCIAL STATEMENTS REQUIRED BY FORM 10-Q |
|---------|--------------------------------------------|

----

Table of Contents

| CONTENTS                                  |
|------------------------------------------------|
| Balance Sheets                       | 5 |
| Statements of Operations             | 6 |
| Statements of Cash Flows             | 7 |
| Notes to the Financial Statements    | 8 |

----

Table of Contents

| CANCER THERAPEUTICS, INC.                                                  |   |
|----------------------------------------------------------------------------|--------|
| Balance Sheets                                                             |   |
|                                                                       |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |
| ASSETS                                                                     |   |
|                                                                       |   | August 31, |   |   | May 31, |   |
|                                                                       |   | 2010 |   |   | 2010 |   |
|                                                                       |   | (Unaudited) |   |   |   |   |
|                                                                       |   |   |   |   |   |   |
| CURRENT ASSETS                                                             |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |
| Cash and cash equivalents                                                  |   | $ | 927 |   |   | $ | 33,686 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Total Current Assets                                                       |   |   | 927 |   |   |   | 33,686 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| OTHER ASSETS                                                               |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Notes receivable                                                           |   |   | 61,000 |   |   |   | 61,000 |   |
| Interest receivable                                                        |   |   | 2,032 |   |   |   | 802 |   |
| Investment in subsidiary                                                   |   |   | - |   |   |   | - |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Total Other Assets                                                         |   |   | 63,032 |   |   |   | 61,802 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| TOTAL ASSETS                                                               |   | $ | 63,959 |   |   | $ | 95,488 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                      |   |
|                                                                       |   |   |   |   |   |   |   |   |
| CURRENT LIABILITIES                                                        |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Accounts payable and accrued expenses                                      |   | $ | 103,541 |   |   | $ | 124,763 |   |
| Due to related parties                                                     |   |   | 16,500 |   |   |   | 18,250 |   |
| Other accrued expenses                                                     |   |   | 150,000 |   |   |   | 150,000 |   |
| Notes payable                                                              |   |   | 100,000 |   |   |   | 100,000 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Total Current Liabilities                                                  |   |   | 370,041 |   |   |   | 393,013 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| TOTAL LIABILITIES                                                          |   |   | 370,041 |   |   |   | 393,013 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| STOCKHOLDERS' DEFICIT                                                      |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Preferred stock, $0.001 par value; 20,000,000 shares                       |   |   |   |   |   |   |   |   |
|  authorized, 200 and -0- shares issued and outstanding                |   |   | - |   |   |   | - |   |
| Common stock, $0.001 par value; 100,000,000 shares                         |   |   |   |   |   |   |   |   |
|  authorized, 85,569,477 and 85,569,477 shares issued                  |   |   |   |   |   |   |   |   |
|  and outstanding, respectively                                        |   |   | 85,598 |   |   |   | 85,598 |   |
| Treasury stock, 28,211 shares                                              |   |   | (14,105 | ) |   |   | (14,105 | ) |
| Additional paid-in capital                                                 |   |   | 3,474,609 |   |   |   | 3,474,609 |   |
| Accumulated deficit                                                        |   |   | (3,852,184 | ) |   |   | (3,843,627 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
| Total Stockholders' Deficit                                                |   |   | (306,082 | ) |   |   | (297,525 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                                |   | $ | 63,959 |   |   | $ | 95,488 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements. |   |
|                                                                       |   |   |   |   |   |   |   |   |

----

Table of Contents

| CANCER THERAPEUTICS, INC.                                                  |   |
|----------------------------------------------------------------------------|--------|
| Statements of Operations                                                   |   |
| (Unaudited)                                                                |   |
|                                                                       |   |   |   |   |   |   |
|                                                                       |   | For the Three Months Ended |   |
|                                                                       |   | August 31, |   |
|                                                                       |   | 2010 |   |   | 2009 |   |
|                                                                       |   |   |   |   |   |   |
| NET REVENUES                                                               |   | $ | - |   |   | $ | - |   |
|                                                                       |   |   |   |   |   |   |   |   |
| OPERATING EXPENSES                                                         |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Consulting                                                                 |   |   | - |   |   |   | 106,844 |   |
| Professional fees                                                          |   |   | 3,110 |   |   |   | 18,643 |   |
| General and administrative                                                 |   |   | 4,629 |   |   |   | 6,553 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Total Operating Expenses                                                   |   |   | 7,739 |   |   |   | 132,040 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| LOSS FROM OPERATIONS                                                       |   |   | (7,739 | ) |   |   | (132,040 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
| OTHER INCOME (EXPENSES)                                                    |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Interest income                                                            |   |   | 1,230 |   |   |   | - |   |
| Loss on investment                                                         |   |   | - |   |   |   | (1,340 | ) |
| Interest expense                                                           |   |   | (2,048 | ) |   |   | (1,040 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
| Total Other Income (Expenses)                                              |   |   | (818 | ) |   |   | (2,380 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
| LOSS BEFORE INCOME TAXES                                                   |   |   | (8,557 | ) |   |   | (134,420 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
| INCOME TAX EXPENSE                                                         |   |   | - |   |   |   | - |   |
|                                                                       |   |   |   |   |   |   |   |   |
| NET LOSS                                                                   |   | $ | (8,557 | ) |   | $ | (134,420 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
| BASIC AND FULLY DILUTED:                                                   |   |   |   |   |   |   |   |   |
| Net loss per common share                                                  |   | $ | (0.00 | ) |   | $ | (0.00 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
| Weighted average shares outstanding                                        |   |   | 103,404,477 |   |   |   | 85,431,325 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements. |   |
|                                                                       |   |   |   |   |   |   |   |   |

----

Table of Contents

| CANCER THERAPEUTICS, INC.                                                  |   |
|----------------------------------------------------------------------------|--------|
| Statements of Cash Flows                                                   |   |
| (Unaudited)                                                                |   |
|                                                                       |   |   |   |   |   |   |
|                                                                       |   | For the Three Months Ended |   |
|                                                                       |   | August 31, |   |
|                                                                       |   | 2010 |   |   | 2009 |   |
|                                                                       |   |   |   |   |   |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                      |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |
| Net loss                                                                   |   | $ | (8,557 | ) |   | $ | (134,420 | ) |
| Adjustments to reconcile net loss to net                                   |   |   |   |   |   |   |   |   |
|  cash used by operating activities:                                   |   |   |   |   |   |   |   |   |
| Amortization of prepaid services for stock                                 |   |   | - |   |   |   | 96,845 |   |
| Loss on investment in subsidiary                                           |   |   | - |   |   |   | 1,340 |   |
| Changes in operating assets and liabilities:                               |   |   |   |   |   |   |   |   |
| Interest receivable                                                        |   |   | (1,230 | ) |   |   | - |   |
| Accounts payable and accrued expenses                                      |   |   | (21,222 | ) |   |   | (18,065 | ) |
| Due to related parties                                                     |   |   | (1,750 | ) |   |   | - |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Net Cash Used by Operating Activities                                      |   |   | (32,759 | ) |   |   | (54,300 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                      |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Cash payments for loans receivable - related party                         |   |   | - |   |   |   | (3,445 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
| Net Cash Used by Investing Activities                                      |   |   | - |   |   |   | (3,445 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                      |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Proceeds from exercise of stock warrants                                   |   |   | - |   |   |   | 59,000 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Net Cash Provided by Financing Activities                                  |   |   | - |   |   |   | 59,000 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| NET INCREASE (DECREASE) IN CASH AND                                        |   |   |   |   |   |   |   |   |
|  CASH EQUIVALENTS                                                     |   |   | (32,759 | ) |   |   | 1,255 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                             |   |   | 33,686 |   |   |   | 760 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| CASH AND CASH EQUIVALENTS, END OF PERIOD                                   |   | $ | 927 |   |   | $ | 2,015 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| SUPPLEMENTAL CASH FLOW INFORMATION:                                        |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Cash Payments For:                                                         |   |   |   |   |   |   |   |   |
| Interest                                                                   |   | $ | - |   |   | $ | - |   |
| Income taxes                                                               |   | $ | - |   |   | $ | - |   |
|                                                                       |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements. |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |

----

Table of Contents

Notes to the Financial Statements

| NOTE 1 | BASIS OF FINANCIAL STATEMENT PRESENTATION |
|--------|-------------------------------------------|

|   | The accompanying unaudited consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted in accordance with such rules and regulations.  The information furnished in the interim financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements.  Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim consolidated financial statements be read in conjunction with the Company’s audited financial statements and notes thereto included in its Form 10K filed on September 14, 2010.  Operating results for the three months ended August 31, 2010 are not necessarily indicative of the results to be expected for the year ending May 31, 2011. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Table of Contents

|      You should read the following discussion of the company's financial condition and results of operations in conjunction with the audited financial statements and related notes included in the filing of the company’s latest annual 10-K.  This discussion may contain forward-looking statements, including, without limitation, statements regarding our expectations, beliefs, intentions, or future strategies that are signified by the words "expects," "anticipates," "intends," "believes," or similar language.  Actual results could differ materially from those projected in the forward looking statements.  You should carefully consider the information under the caption "Risk Factors" in this filing, in addition to the other information set forth in this report.  We caution you that Cancer Therapeutics’ business and financial performance is subject to substantial risks and uncertainties. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Table of Contents

----

Table of Contents

----

Table of Contents

----

Table of Contents

----

Table of Contents

| ITEM 2. | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS |
|---------|-------------------------------------------------------------|

| ITEM 3. | DEFAULTS UPON SENIOR SECURITIES |
|---------|---------------------------------|

| ITEM 4. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS |
|---------|-----------------------------------------------------|

| ITEM 5. | OTHER INFORMATION |
|---------|-------------------|

| ITEM 6. | EXHIBITS |
|---------|----------|

|   | The following documents are filed as exhibits to this Form 10-Q: |
|--------|------------------------------------------------------------------|

| ExhibitNumber |   |  Title of Document                                                                |
|---------------|--------|----------------------------------------------------------------------------------------|
| 3.1           |   | Certificate of Incorporation of Cancer Therapeutics, Inc., a Delaware corporation. (1) |
| 3.2           |   | Bylaws of Cancer Therapeutics, Inc., a Delaware corporation. (2)                       |

----

Table of Contents

| 4.14.24.3 |    | Form of Common Stock Certificate. (3)Consulting Agreement with MMAAK Holdings, Inc. (4)Consulting Agreement with Cedar Ridge Management (5)     |
|-----------|--------------|-------------------------------------------------------------------------------------------------------------------------------------------------|
| 5.1       |         | Opinion of Kenneth I. Denos, P.C., Attorney at Law (including consent). (6)                                                                     |
| 10.1      |         | NanoTherapies Unit Purchase Agreement.  (7)                                                                                           |
| 23.1      |         | Consent of Bouwhuis, Morrill and Company, LLC. (8)                                                                                              |
| 23.2      |         | Consent of Kenneth I. Denos, P.C. (Filed as part of Exhibit 5.1). (9)                                                                           |
| 31        |         | Certification by Chief Executive Officer and Chief Financial Officer, Chene Gardner, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
| 32        |         | Certification by Chief Executive Officer and Chief Financial Officer, Chene Gardner, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |

| (1)   | Filed as an Exhibit to the Company’s Registration Statement on Form SB-2, deemed effective by the Commission on May 15, 2006. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | Filed as an Exhibit to the Company’s Registration Statement on Form SB-2, deemed effective by the Commission on May 15, 2006. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | Filed as an Exhibit to the Company’s Registration Statement on Form SB-2, deemed effective by the Commission on May 15, 2006. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------|

| (4)   | Filed as an Exhibit to the Company’s 10-K filed for the year ending May 31, 2009. |
|-----------------|-----------------------------------------------------------------------------------------|

| (5)   | Filed as an Exhibit to the Company’s 10-K filed for the year ending May 31, 2009. |
|-----------------|-----------------------------------------------------------------------------------------|

| (6)   | Filed as an Exhibit to the Company’s Registration Statement on Form SB-2, deemed effective by the Commission on May 15, 2006. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------|

| (7)   | Filed as an Exhibit to the Company’s 8-K filed on May 29, 2009. |
|-----------------|-----------------------------------------------------------------------|

| (8)   | Filed as an Exhibit to the Company’s Registration Statement on Form SB-2, deemed effective by the Commission on May 15, 2006. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------|

| (9)   | Filed as an Exhibit to the Company’s Registration Statement on Form SB-2, deemed effective by the Commission on May 15, 2006. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------|

----

Table of Contents

|                              | CANCER THERAPEUTICS, INC. |
|-----------------------------------|---------------------------|
|                              |                      |
| Date: October  20, 2010 | BY: /S/ Chene Gardner     |
|                              | Chene Gardner             |
|                              | Chief Executive Officer   |

----

Table of Contents