SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q


|X|   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
      OF THE SECURITIES EXCHANGE ACT OF 1934

      For the quarterly period ended      June 30, 2001
                                          --------------

|_|   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
      OF THE SECURITIES EXCHANGE ACT OF 1934

      For the transition period from
                                     ----------------------
      to
         ------------------------

                         Commission File Number 0-28674
                                                -------

                        CADUS PHARMACEUTICAL CORPORATION
--------------------------------------------------------------------------------

             (Exact Name of Registrant as Specified on its Charter)


          Delaware                                      13-3660391
------------------------------------------  ------------------------------------
(State of Other Jurisdiction of             (I.R.S. Employer Identification No.)
Incorporation or Organization)

  767 Fifth Avenue, New York, New York                    10153
------------------------------------------  ------------------------------------
(Address of Principal Executive Offices)                (Zip Code)

Registrant's Telephone Number,
Including Area Code                                  (212) 702-4315
                                            ------------------------------------


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                              Yes _X_       No ___

The number of shares of registrant's common stock, $0.01 par value,  outstanding
as of July 31, 2001 was 13,144,040.

                                        1
<PAGE>



                        CADUS PHARMACEUTICAL CORPORATION

                                      INDEX

                                                                        Page No.
                                                                        --------
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS                              3

                    PART I - CONDENSED FINANCIAL INFORMATION

Item 1.  Condensed Financial Statements

         Condensed Balance Sheets - June 30, 2001 (unaudited)
           and December 31, 2000 (audited)                                     4

         Condensed Statements of Operations - Three Months and Six
           Months ended June 30, 2001 and 2000 (unaudited)                   5-6

         Condensed Statements of Cash Flows - Six Months Ended
           June 30, 2001 and 2000 (unaudited)                                  7

         Notes to Condensed Financial Statements (unaudited)                 8-9

Item 2.  Management's Discussion and Analysis of Financial Condition
         and Results of Operations                                          9-12

Item 3.  Quantitative and Qualitative Disclosures About Market Risk           12


                           PART II - OTHER INFORMATION

Item 1.  Legal Proceedings                                                    12

Item 2.  Changes in Securities and Use of Proceeds                            12

Item 3.  Defaults Upon Senior Securities                                      12

Item 4.  Submission of Matters to a Vote of Security Holders               12-13

Item 5.  Other Information                                                    13

Item 6.  Exhibits and Reports on Form 8K                                      13

SIGNATURES                                                                    14

EXHIBIT INDEX                                                                 15

                                        2
<PAGE>


SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

Certain   statements  in  this   Quarterly   Report  on  Form  10-Q   constitute
"forward-looking statements" within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended. Such forward-looking  statements involve known
and unknown risks,  uncertainties,  and other factors which may cause the actual
results,  performance, or achievements of the Company to be materially different
from any future  results,  performance or  achievements  expressed or implied by
such forward-looking statements.  Factors that could cause or contribute to such
differences  include,  but  are  not  limited  to,  technological  uncertainties
regarding  the  Company's  technologies,  uncertainties  regarding the Company's
future acquisition and in-licensing of technologies, the Company's capital needs
and uncertainty of future funding,  the Company's  history of operating  losses,
the Company's  dependence on proprietary  technology and the unpredictability of
patent protection,  intense  competition in the pharmaceutical and biotechnology
industries,  rapid  technological  development  that may result in the Company's
technologies  becoming  obsolete,  as  well as  other  risks  and  uncertainties
discussed in the Company's prospectus dated July 17, 1996.

                                        3
<PAGE>


                        CADUS PHARMACEUTICAL CORPORATION
                            CONDENSED BALANCE SHEETS

                                     ASSETS
                                     ------
                                                     JUNE 30,       DECEMBER 31,
                                                       2001            2000
                                                   ------------    ------------
                                                    (Unaudited)      (Audited)
Current assets:
  Cash and cash equivalents                        $ 24,723,639    $ 24,383,352
  Prepaid and other current assets                        7,694          81,250
                                                   ------------    ------------
      Total current assets                           24,731,333      24,464,602

Investment in other ventures                            164,507         162,528
Other assets, net                                     1,031,074       1,081,527
                                                   ------------    ------------
        Total assets                               $ 25,926,914    $ 25,708,657
                                                   ============    ============


                      LIABILITIES AND STOCKHOLDERS' EQUITY
                      ------------------------------------

Current liabilities:
  Accrued expenses and other current liabilities   $    146,320    $     36,244
                                                   ------------    ------------
      Total current liabilities                         146,320          36,244
                                                   ------------    ------------
      Total liabilities                                 146,320          36,244
                                                   ------------    ------------

Stockholders' equity
  Common stock                                          132,857         132,857
  Additional paid-in capital                         59,844,355      59,844,355
  Accumulated deficit                               (33,896,543)    (34,004,724)
  Treasury stock                                       (300,075)       (300,075)
                                                   ------------    ------------
      Total stockholders' equity                     25,780,594      25,672,413
                                                   ------------    ------------
      Total liabilities and stockholders' equity   $ 25,926,914    $ 25,708,657
                                                   ============    ============


           See accompanying notes to condensed financial statements.

                                       4
<PAGE>



                        CADUS PHARMACEUTICAL CORPORATION

                       CONDENSED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

                                                         Three Months Ended
                                                              June 30,
                                                         2001           2000
                                                     -----------    -----------

License and maintenance fees                         $        --    $        --
                                                     -----------    -----------
        Total revenues                                        --             --
                                                     -----------    -----------
Costs and expenses:
  General and administrative expenses                    407,641        347,630
  (Gain) loss of equity in other ventures                 (2,165)       353,884
                                                     -----------    -----------
        Total costs and expenses                         405,476        701,514
                                                     -----------    -----------
Operating loss                                          (405,476)      (701,514)
                                                     -----------    -----------

Other income:
  Interest Income                                        234,793         71,644
                                                     -----------    -----------
        Total other income                               234,793         71,644
                                                     -----------    -----------
Loss before income taxes                                (170,683)      (629,870)
Income taxes                                                  --             --
                                                     -----------    -----------
        Net (loss)                                   ($  170,683)   ($  629,870)
                                                     ===========    ===========
Basic and diluted net (loss) per share               ($     0.01)   ($     0.05)
                                                     ===========    ===========

Weighted average shares of common stock
  outstanding - basic and diluted                     13,144,040     13,144,040
                                                     ===========    ===========

           See accompanying notes to condensed financial statements.

                                       5
<PAGE>


                        CADUS PHARMACEUTICAL CORPORATION

                       CONDENSED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

                                                         Six Months Ended
                                                             June 30,
                                                       2001            2000
                                                   ------------    ------------

License and maintenance fees                       $    100,000    $    700,000
                                                   ------------    ------------
      Total revenues                                    100,000         700,000
                                                   ------------    ------------
Costs and expenses:
  General and administrative expenses                   648,908       1,200,092
  (Gain) loss of equity in other ventures                (1,979)        714,238
  (Gain) on sale of equipment                                --        (100,000)
                                                   ------------    ------------
      Total costs and expenses                          646,929       1,814,330
                                                   ------------    ------------
Operating loss                                         (546,929)     (1,114,330)
                                                   ------------    ------------

Other income:
  Interest income                                       529,494         143,341
  Net reimbursement of SIBIA litigation costs           125,616              --
                                                   ------------    ------------
      Total other income                                655,110         143,341
                                                   ------------    ------------

Income (loss) before income taxes                       108,181        (970,989)
Income taxes                                                 --              --
                                                   ------------    ------------
      Net income (loss)                            $    108,181    ($   970,989)
                                                   ============    ============
Basic and diluted net income (loss) per share      $       0.01    ($      0.07)
                                                   ============    ============

Weighted average shares of common stock
  outstanding - basic and diluted                    13,144,040      13,123,190
                                                   ============    ============

           See accompanying notes to condensed financial statements.

                                       6
<PAGE>


                        CADUS PHARMACEUTICAL CORPORATION

                       CONDENSED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

                                                         Six Months Ended
                                                             June 30,
                                                        2001           2000
                                                    ------------    -----------

Cash flows from operating activities:
  Net income (loss)                                 $    108,181    ($  970,989)
  Adjustments to reconcile net income (loss)
    to net cash provided by operating activities:
    Amortization of patent costs                          40,453         40,453
    (Gain) loss of equity in other ventures               (1,979)       714,238
    (Gain) on sale of equipment                               --       (100,000)
    Reserve for litigation damages                            --        496,014
  Changes in assets and liabilities:
    Decrease in due from officer and director                 --        291,886
    Decrease in prepaid and other assets                  83,556            575
    Decrease in accounts payable                              --        (17,644)
    Increase (decrease) in accrued expenses
      and other current liabilities                      110,076        (41,150)
                                                    ------------    -----------
Net cash provided by operating activities                340,287        413,383
                                                    ------------    -----------
Cash flows from investing activities:
  Increase in restricted cash                                 --       (482,448)
  Proceeds from sale of equipment                             --        100,000
                                                    ------------    -----------
Net cash used in investing activities                         --       (382,448)
                                                    ------------    -----------
Cash flows from financing activities:
  Proceeds from issuance of common stock
    upon exercise of stock options                            --        155,660
                                                    ------------    -----------
Net cash provided by financing activities                     --        155,660
                                                    ------------    -----------
Net increase in cash and cash equivalents                340,287        186,595
Cash and cash equivalents - beginning of period       24,383,352      5,082,212
                                                    ------------    -----------
Cash and cash equivalents - end of period           $ 24,723,639    $ 5,268,807
                                                    ============    ===========

           See accompanying notes to condensed financial statements.

                                       7
<PAGE>


                        CADUS PHARMACEUTICAL CORPORATION

               NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)
                                  JUNE 30, 2001

Note - 1  ORGANIZATION AND BASIS OF PREPARATION

          The  information  presented  as of June 30, 2001 and for the three and
          six  month  periods  then  ended,  is  unaudited,   but  includes  all
          adjustments  (consisting only of normal  recurring  accruals) that the
          Company's   management   believes  to  be   necessary   for  the  fair
          presentation of results for the periods presented. Certain information
          and footnote  disclosures  normally  included in financial  statements
          prepared in accordance with accounting  principles  generally accepted
          in the United  States of America  have been  omitted  pursuant  to the
          requirements of the Securities and Exchange  Commission,  although the
          Company  believes  that the  disclosures  included in these  financial
          statements are adequate to make the information  not  misleading.  The
          December  31, 2000 balance  sheet was derived  from audited  financial
          statements.  These financial  statements should be read in conjunction
          with the  Company's  annual  report  on Form  10-K for the year  ended
          December 31, 2000.

          The results of  operations  for the three month and six month  periods
          ended June 30, 2001 are not  necessarily  indicative of the results to
          be expected for the year ending December 31, 2001.

Note - 2  NET INCOME (LOSS) PER SHARE

          For the three  and six month  periods  ended  June 30,  2001 and 2000,
          basic net income  (loss) per share is  computed  by  dividing  the net
          income  (loss)  by  the  weighted  average  number  of  common  shares
          outstanding.  Diluted net income (loss) per share is the same as basic
          net income (loss) per share since the  inclusion of 719,976  shares of
          potential common stock equivalents (stock options and warrants) in the
          computations would be anti-dilutive.

Note - 3  PATENT LITIGATION

          In July 1996, SIBIA Neurosciences,  Inc. ("SIBIA") (which was acquired
          by Merck  and Co.  in 1999)  commenced  a patent  infringement  action
          against the Company  alleging  infringement by the Company of a patent
          concerning  the use of cells,  engineered  to express any type of cell
          surface  receptor and a reporter  gene,  used to report results in the
          screening of compounds against target assays,  and seeking  injunctive
          relief and monetary  damages.  On December 18, 1998, the jury issued a
          verdict in favor of SIBIA and awarded  SIBIA $18.0 million in damages.
          On  January  29,  1999  the  United  States   District  Court  granted
          injunctive  relief that  precluded  the Company  from using the method
          claimed in SIBIA's  patent.  The Company  appealed  the  judgment  and
          deposited $18.5 million in escrow to secure payment of the judgment in
          the event the Company  were to lose the appeal and  recorded a reserve
          for  litigation  damages.  Interest  earned on the escrow  account was
          added to the reserve for litigation  damages. On September 6, 2000 the
          Court of Appeals  ruled in favor of the Company  stating the claims of
          the SIBIA patent asserted against the Company

                                       8
<PAGE>


          were invalid.  On October 30, 2000, the U.S.  District Court set aside
          the  $18.0  million  judgment  in  favor  of  SIBIA  and  vacated  the
          injunction  against the Company.  The Company  obtained the release of
          the cash  escrow of $19.9  million  representing  the  original  $18.5
          million  and  interest  that  accumulated  thereon.  The  reserve  for
          litigation  of  $18,841,489  (net of direct legal costs of $1 million)
          was reversed and credited to the statement of operations  for the year
          ended  December  31,  2000.  Pursuant  to a court  order,  the Company
          received in February 2001 a $155,402 reimbursement of SIBIA litigation
          costs offset by legal costs incurred of $29,786.


Note - 4  NON-EXCLUSIVE LICENSE OF YEAST TECHNOLOGY

          In February 2000,  the Company  licensed to OSI  Pharmaceuticals  Inc.
          ("OSI"), on a non- exclusive basis, its yeast technologies,  including
          various reagents and its library of over 30,000 yeast strains, and its
          bioinformatics  software.  OSI paid to the  Company a  license  fee of
          $100,000 and an access fee of $600,000, which were recorded as license
          fee revenue in the first quarter of fiscal year 2000.  OSI also paid a
          supplemental  license  fee of  $250,000  in  December  2000  when  the
          injunction  obtained by SIBIA was  dissolved.  OSI also pays an annual
          maintenance  fee of $100,000  which it is  obligated  to pay until the
          earlier of 2010 or the  termination of the license.  OSI may terminate
          the license at any time on 30 days prior written notice.


ITEM 2.   MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION  AND
          RESULTS OF OPERATIONS

OVERVIEW

The  Company  was  incorporated  in  1992  and  until  July  30,  1999,  devoted
substantially  all of its resources to the  development and application of novel
yeast-based and other drug discovery technologies. On July 30, 1999, the Company
sold its drug discovery assets and ceased its internal drug discovery operations
and research  efforts for  collaborative  partners.  The Company  terminated all
employees  who were not  hired by the  purchaser  of its  assets  or who did not
voluntarily  resign except for the Chief Executive Officer who resigned in April
2000.

The Company has incurred  operating losses in each year since its inception.  At
June 30, 2001, the Company had an  accumulated  deficit of  approximately  $33.9
million.  The Company's losses have resulted  principally from costs incurred in
connection  with its research and  development  activities  and from general and
administrative costs associated with the Company's operations.  These costs have
exceeded the Company's  revenues and interest income. As a result of the sale of
its drug  discovery  assets and the  cessation  of its internal  drug  discovery
operations and research efforts for collaborative  partners,  the Company ceased
to have  research  funding  revenues  and  substantially  reduced its  operating
expenses.  The Company expects to generate  revenues in the future only if it is
able to license its technologies.

RESULTS OF OPERATIONS

THREE MONTHS ENDED JUNE 30, 2001 AND JUNE 30, 2000

                                       9
<PAGE>


REVENUES

There were no  revenues  for the three  months  ended June 30,  2001 and for the
three months ended June 30, 2000.

OPERATING EXPENSES

General and  administrative  expenses increased to $407,641 for the three months
ended June 30, 2001 from $347,630 for the same period in 2000.  This increase is
attributable  primarily  to an  increase  in legal  costs in  connection  with a
severance pay dispute with a former employee.

OTHER INCOME

Interest  income for the three months ended June 30, 2001  increased to $234,793
from $71,644 for the same period in 2000. The increase is attributable primarily
to the  increase  in the  Company's  unrestricted  cash  equivalent  balances as
compared  to the same  period in 2000 as a result of the  release  of funds that
were held in escrow in connection with the SIBIA litigation.

EQUITY IN OTHER VENTURES

For the three  months ended June 30, 2001 the Company  recognized  net income of
$2,165 in its investment in Laurel Partners Limited Partnership ("Laurel").  The
loss for the same period in 2000 was $353,884  representing losses in Laurel and
Axiom  Biotechnologies,  Inc. ("Axiom").  The Company's  investment in Axiom was
written down to zero in fiscal year 2000.

NET LOSS

Net loss for the three months ended June 30, 2001  decreased to $170,683  from a
net  loss of  $629,870  for the  same  period  in  2000.  This  decrease  can be
attributed  to the decrease in loss on equity in other  ventures and an increase
in interest income.

SIX MONTHS ENDED JUNE 30, 2001 AND JUNE 30, 2000

REVENUES

Revenues  for the six months  ended June 30, 2001  decreased  to  $100,000  from
$700,000 for the same period in 2000. This decrease is attributable primarily to
the Company not  receiving  an access fee similar to the $600,000 it received in
February 2000 in connection with its licensing agreement with OSI.

OPERATING EXPENSES

General and  administrative  expenses  decreased  to $648,908 for the six months
ended June 30, 2001 from  $1,200,092 for the same period in 2000.  Such expenses
in  fiscal  2000  included  $607,500  in  compensation  (including  $497,500  in
severance)  paid to the Company's  former Chief Executive  Officer.  The Company
does  not  currently  compensate  its  Chief  Executive  Officer.   General  and
administrative expenses for the six

                                       10
<PAGE>


months ended June 30, 2001 principally  consisted of patent  maintenance  costs,
professional fees and insurance costs.

OTHER INCOME

Interest  income for the six months  ended June 30, 2001  increased  to $529,494
from  $143,341  for the  same  period  in 2000.  The  increase  is  attributable
primarily to the increase in the Company's unrestricted cash equivalent balances
as  compared to the same period in 2000 as a result of the release of funds that
were held in escrow in connection with the SIBIA litigation.

Pursuant  to a court  order,  the Company  received in February  2001 a $155,402
reimbursement  of SIBIA  litigation  costs  offset by legal  costs  incurred  of
$29,786.

EQUITY IN OTHER VENTURES

For the six months  ended June 30,  2001 the  Company  recognized  a net gain of
$1,979 in Laurel Partners Limited Partnership ("Laurel").  The loss for the same
period  in  2000  was   $714,238   representing   losses  in  Laurel  and  Axiom
Biotechnologies,  Inc. ("Axiom").  The Company's investment in Axiom was written
down to zero in fiscal year 2000.

NET INCOME (LOSS)

Net income for the six months ended June 30, 2001  increased to $108,181  from a
net  loss of  $970,989  for the  same  period  in  2000.  This  increase  can be
attributed  to the decrease in general and  administrative  expenses and loss on
equity  in other  ventures  and an  increase  in  interest  income,  offset by a
decrease in revenues.

LIQUIDITY AND CAPITAL RESOURCES

At June 30, 2001 the Company held cash and cash  equivalents  of $24.7  million.
The Company's working capital at June 30, 2001 was $24.6 million.

In February 2000, the Company  licensed to OSI, on a  non-exclusive  basis,  its
yeast  technologies.  OSI has paid to the Company a license fee of $100,000,  an
access fee of $600,000 and a supplemental  license fee of $250,000.  OSI is also
obligated to pay an annual maintenance fee of $100,000 until the earlier of 2010
or the termination of the license.  The Company  received an annual  maintenance
fee of $100,000 in February  2001.  OSI may terminate the license at any time on
30 days prior written notice.

The Company believes that its existing capital resources, together with interest
income,  will be sufficient to support its  operations  through the end of 2002.
This  forecast  of the  period of time  through  which the  Company's  financial
resources  will be  adequate  to support  its  operations  is a  forward-looking
statement that may not prove accurate and, as such, actual results may vary. The
Company's  capital  requirements  may vary as a result of a number  of  factors,
including  the  transactions,  if any,  arising  from the  Company's  efforts to
license its  technologies  and  otherwise  realize  value from its  assets;  the
transactions, if any, arising from the Company's efforts to acquire technologies
or products or to acquire or invest in  companies;  and the expenses of pursuing
such transactions.

                                       11
<PAGE>


IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS

In June 2001,  the  Financial  Accounting  Standards  Board issued SFAS No. 141,
"Business  Combinations"  ("SFAS  141"),  and SFAS No. 142,  "Goodwill And Other
Intangible   Assets"  ("SFAS  142").  SFAS  141  addresses  the  accounting  for
acquisitions  of businesses  and is effective for  acquisitions  occurring on or
after July 1, 2001.  SFAS 142 addresses the method of identifying  and measuring
goodwill  and  other  intangible  assets,  eliminates  further  amortization  of
goodwill and intangible  assets that have indefinite  useful lives, and requires
periodic  evaluations of impairment of goodwill balances and intangible  assets.
Statement 142 also requires that intangible assets with definite useful lives be
amortized  over  their  respective  estimated  useful  lives to their  estimated
residual  values,  and reviewed for impairment in accordance  with SFAS No. 121,
"Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to
Be Disposed Of." SFAS 142 is effective for fiscal years beginning after December
15,  2001.  The  adoption  of SFAS  141 will  have no  effect  on the  Company's
financial  position or results of operations.  SFAS 142 will require the Company
to reassess the useful lives of its  capitalized  patent costs  reflected in the
accompanying  balance sheets as other assets.  The Company  amortized $40,453 of
capitalized  patent costs during both six month  periods ended June 30, 2001 and
2000. The Company is currently assessing the impact of the adoption of SFAS 142.


Item 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Company's earnings and cash flows are subject to fluctuations due to changes
in interest  rates  primarily  from its investment of available cash balances in
money  market funds with  portfolios  of  investment  grade  corporate  and U.S.
government securities.  The Company does not believe it is materially exposed to
changes in interest rates.  Under its current  policies the Company does not use
interest  rate  derivative  instruments  to manage  exposure  to  interest  rate
changes.


PART II - OTHER INFORMATION
---------------------------

Item 1.   Legal Proceedings

          Nothing to report.

Item 2.   Changes in Securities and Use of Proceeds

          Nothing to report.

Item 3.   Defaults Upon Senior Securities

          Nothing to report

Item 4.   Submission of Matters to a Vote of Security Holders

          On June 13, 2001, the Company held its annual meeting of  stockholders
          in New York,  New York.  The  holders of  12,495,864  shares of Common
          Stock were present or represented by proxy and, accordingly,  a quorum
          was present.  The  following  matters were voted upon and received the
          votes set forth below:

          1.   All of the following  persons  nominated were elected to serve as
               directors  and received  the number of votes set  opposite  their
               respective names:

                                       12
<PAGE>


                                         Votes For                Votes Withheld
                                         ---------                --------------

               James R. Broach           11,773,155                   722,709

               Russell D. Glass          11,492,472                 1,003,392

               Carl C. Icahn             11,492,472                 1,003,392

               Peter S. Liebert          11,492,472                 1,003,392

               Siegfried G. Schaefer     11,492,472                 1,003,392

               Jack G. Wasserman         11,492,472                 1,003,392

          2.   A  stockholder  proposal  concerning  a request that the Board of
               Directors of the Company  pursue  returning the Company's  excess
               cash to shareholders  received  1,552,590 votes FOR and 7,848,156
               votes  AGAINST,  with 64,806  abstentions  and  3,030,312  broker
               non-votes.

Item 5.   Other Information

               Nothing to report



Item 6.  Exhibits and Reports on Form 8-K.

               (a)  Exhibits.

                    None

               (b)  Reports on Form 8-K.

                    None

                                       13
<PAGE>


                                   SIGNATURES

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.

                           CADUS PHARMACEUTICAL CORPORATION
                           (REGISTRANT)


Date: August 9, 2001       By: /s/ Russell D. Glass
                               -------------------------------------------------
                               Russell D. Glass
                               President and Chief Executive Officer (Authorized
                               Officer and Principal Financial Officer)

                                       14
<PAGE>


                                  EXHIBIT INDEX


There are no exhibits being filed as part of this Quarterly Report on Form 10-Q.





                                       15