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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Cell Pathways, Inc.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
15114R101
(CUSIP Number)
December 31, 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)
[ ] Rule 13d-1(c)
[ x] 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 1 of 4 Pages
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CUSIP No. 15114R101
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Oak Tree Partners, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5. SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY 1,726,885
EACH
REPORTING
PERSONS
WITH
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6. SHARED VOTING POWER
-0-
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7. SOLE DISPOSITIVE POWER
1,726,885
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8. SHARED DISPOSITIVE POWER
-0-
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,726,885
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * [ ]
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.1%
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12. TYPE OF REPORTING PERSON *
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT
Page 2 of 4 Pages
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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
Oak Tree Partners, L.P.
Item 2(b). Address of Principal Business Office
70 East 55th Street - 12th Floor
New York, NY 10022
Item 2(c). Citizenship
Delaware
Item 2(d). Title of Class of Securities
Common Stock, $0.0l par value
Item 2(e). CUSIP Number
15114R101
Item 3. This Statement is filed pursuant to
Rule 13d-1(d)
Item 4. Ownership as of December 31, 1998
The information contained in Items 5-11 on the cover pages is
incorporated hereby 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
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
Page 3 of 4 Pages
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Item 10. Certification
By signing below the undersigned certifies that, to the best of its
knowledge and belief, the securities referred to above were acquired and are
held in the ordinary course of business and 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.
After reasonable inquiry and to the best of its knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and accurate.
SIGNATURE:
Date: January 22, 1999
OAK TREE PARTNERS, L.P.
By: GBU INC., General Partner
By: /s/ Gerald B. Unterman
----------------------
Gerald B. Unterman
President
Page 4 of 4 Pages
