UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT


     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

        Date of Report (Date of earliest event reported): October 18, 2004

                         Callisto Pharmaceuticals, Inc.
             (Exact name of registrant as specified in its charter)


Delaware                                 333-63474           13-3894575
(State or other jurisdiction             (Commission         IRS Employer
of incorporation or organization)        File Number)        Identification No.)

                        420 Lexington Avenue, Suite 1609
                            New York, New York 10170
                    (Address of principal executive offices)

Registrant's telephone number, including area code: (212) 297-0010

          (Former name or former address, if changed since last report)


         Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

         |_|  Written communication pursuant to Rule 425 under the Securities 
              Act (17 CFR 230.425)

         |_|  Soliciting material pursuant to Rule 14a-12 under the Exchange 
              Act (17 CFR 240.14a-12)

         |_|  Pre-commencement communications pursuant to Rule 14d-2(b) under 
              the Exchange Act (17 CFR 240.14d-2(b))

         |_|  Pre-commencement communications pursuant to Rule 13e-4(c) under 
              the Exchange Act (17 CFR 240.13e-4(c))



ITEM 5.02   DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
            APPOINTMENT OF PRINCIPAL OFFICERS.


         On October 18, 2004, the Board of Directors of Callisto
Pharmaceuticals, Inc., a Delaware corporation ("Callisto"), at a regularly
scheduled board of directors meeting, elected Gary S. Jacob, Ph.D., Callisto's
Chief Executive Officer, a director of Callisto to serve until the next annual
meeting of the stockholders of Callisto and/or until his successor has been duly
elected and qualified.


                                    SIGNATURE


         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 hereunto duly authorized.

Dated: October 20, 2004


                         CALLISTO PHARMACEUTICALS, INC.



                             By: /s/ Gary S. Jacob
                                 ----------------------
                                 Gary S. Jacob, Ph.D.
                                 Chief Executive Officer