<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Information to be Included in Statements Filed Pursuant to Rules 13d-1(b), (c)
and (d) and Amendments Thereto Filed Pursuant to Rule 13d-2(b) Under the
Securities Exchange Act of 1934
Cell Pathways, Inc.
________________________________________________________________________________
(Name of Issuer)
Common Stock, $0.01 par value
________________________________________________________________________________
(Title of Class of Securities)
15114R 10 1
________________________________________________________________________________
(CUSIP Number)
November 3, 1998
________________________________________________________________________________
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
SCHEDULE 13G
CUSIP N. 15114R 10 1 Page 2 of 4 Pages
----------- --- ---
<TABLE>
<S> <C>
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
FGN, Inc.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- -----------------------------------------------------------------------------
5 SOLE VOTING POWER
1,772,186
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
- -----------------------------------------------------------------------------
6 SHARED VOTING POWER
-0-
- -----------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
1,772,186
- -----------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- -----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,772,186
- -----------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
- -----------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.3%
- -----------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- -----------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13G
CUSIP No. 15114R101 Page 3 of 4 Pages
--------- --- ---
Item 1(a). Name of Issuer
--------------
Cell Pathways, Inc., a Delaware corporation.
Item 1(b). Address of Issuer's Principal Executive Offices
-----------------------------------------------
702 Electronic Drive
Horsham, Pennsylvania 19044
Item 2(a). Name of Person Filing
---------------------
FGN, Inc.
Item 2(b). Address of Principal Business Office
------------------------------------
c/o Michael P. Cannon
190 S. LaSalle Street
Chicago, Illinois 60603
Item 2(c). Citizenship
-----------
Illinois, U.S.A.
Item 2(d). Title of Class of Securities
----------------------------
Common Stock, $0.01 par value
Item 2(e). CUSIP Number
------------
15114R 10 1
Item 3. This Statement is filed pursuant to
-----------------------------------
Rule 13d-1(c)
Item 4. Ownership as of November 12, 1998
---------------------------------
The information contained in Items 5-11 on the cover pages is
incorporated herein by reference.
Item 5. Ownership of Five Percent or Less of a Class
--------------------------------------------
Not Applicable.
Item 6. Ownership of More Than Five Percent On Behalf of Another Person
---------------------------------------------------------------
Not Applicable.
<PAGE>
SCHEULE 13G
CUSIP No. 15114R 10 1 Page 4 of 4 Pages
----------- --- ---
Item 7. Identification and Classification of Certain Subsidiaries
---------------------------------------------------------
Not Applicable.
Item 8. Identification and Classification of Members of a Group
-------------------------------------------------------
Not Applicable.
Item 9. Notice of Dissolution of a Group
--------------------------------
Not Applicable.
Item 10. Certification
-------------
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose
or effect.
SIGNATURE
Date: November 12, 1998
FGN, Inc.
By: /s/ Michael P. Cannon
-----------------------------
Michael P. Cannon, Secretary
