8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 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):
                                  April 9, 2003




                          IMCLONE SYSTEMS INCORPORATED
             (Exact Name of Registrant as Specified in Its Charter)





     Delaware                       0-19612                     04-2834797
    (State of              (Commission File Number)          (I.R.S. Employer
  incorporation                                             Identification No.)
 or organization)






                          180 Varick Street, 6th Floor,
                            New York, New York 10014
    (Address, including zip code of Registrant's principal executive offices)


       Registrant's telephone number, including area code: (212) 645-1405



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Item 5  Other Events

     On April 9, 2003, ImClone Systems Incorporated issued a press release
announcing the further delay of the release of its financial results for the
fourth quarter and year ended December 31, 2002 as well as the filing of its
annual report on Form 10-K with the Securities and Exchange Commission. The text
of the press release, which is attached as Exhibit 99.1, is incorporated by
reference in its entirety.

Item 7   Exhibits

     (c).Exhibits

     99.1 Press Release dated April 9, 2003.

Item 12.  Results of Operations and Financial Conditions

     See Item 5, above.








                                    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.



                                    ImClone Systems Incorporated
                                    By: /s/ Clifford R. Saffron
                                        ---------------------------------------
                                        Name:  Clifford R. Saffron
                                        Title: Senior Vice President, Legal and
                                               General Counsel


Date: April 9, 2003








                                  EXHIBIT INDEX


Exhibit No.              Description

99.1                     Press release dated April 9, 2003

EX-99.1

Exhibit 99.1
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   Investors:                                     Media:
   ImClone Systems Incorporated                   Abernathy MacGregor
   Andrea F. Rabney                               Andrew Merrill or David Pitts
   (646) 638-5058                                 (212) 371-5999
   Stefania A. Bethlen
   (646) 638-5046

   For Immediate Release
   ---------------------

    IMCLONE SYSTEMS TO DELAY ANNOUNCEMENT OF 2002 FOURTH QUARTER AND YEAR END
                 FINANCIAL RESULTS AND FILING OF FORM 10-K UNTIL
                          COMPLETION OF INTERNAL REVIEW

   New York, NY - April 9, 2003 -- ImClone Systems Incorporated (Nasdaq: IMCL)
   announced today that the review and public announcement of its fourth quarter
   and 2002 financial results as well as the filing of its annual report on Form
   10-K will be delayed beyond April 15, 2003. This additional delay is due to
   the inability to finalize the Company's audited financial statements pending
   completion of an ongoing internal review. The Company will announce its
   financial results and file its annual report on Form 10-K upon completion of
   this review.

   In its press release issued on March 31, 2003, the Company said that it was
   reviewing options and warrants to determine the extent of withholding tax
   liabilities associated with the exercise of those warrants and options which
   were held by current and former officers, directors and employees. In its
   preliminary internal review, the Company has determined that it has incurred
   tax liabilities as a result of not having withheld taxes on the exercise of
   certain options as well as warrants issued prior to 1995. In addition, the
   Company failed to comply with tax reporting requirements with respect to the
   exercise of these warrants. The Audit Committee of the Board of Directors is
   reviewing the circumstances surrounding these events.

   The Company has received a request from the SEC for documents and information
   relating to this matter and intends to cooperate fully with this SEC inquiry.

   The Company continues to believe that the total amount to be reflected on its
   balance sheet relating to these matters could be up to $60 million, exclusive
   of penalties and interest. The actual amount of this liability and the amount
   ultimately charged against earnings will be determined by the ongoing review
   and will be reduced by amounts paid by the recipients of warrants in respect
   of their personal tax liabilities.


   About ImClone Systems Incorporated

   ImClone Systems Incorporated is committed to advancing oncology care by
   developing a portfolio of targeted biologic treatments, designed to address
   the medical needs of patients with cancer. The Company's three programs
   include growth factor blockers, angiogenesis inhibitors and cancer vaccines.
   ImClone Systems' strategy is to become a fully integrated biopharmaceutical
   company, taking its development programs from the research stage to the
   market. ImClone Systems is headquartered in New York City with additional
   administration, manufacturing and laboratory facilities in Somerville, New
   Jersey and Brooklyn, New York.

   The matters discussed in this news release may include forward-looking
   statements which involve potential risks and uncertainties. Important factors
   that may cause actual results to differ materially include, but are not
   limited to, the risks and uncertainties associated with completing
   pre-clinical and clinical trials of the company's compounds that demonstrate
   such compounds' safety and effectiveness; obtaining additional financing to
   support the company's operations; obtaining and maintaining regulatory
   approval for such compounds and complying with other governmental regulations
   applicable to the company's business; obtaining the raw materials necessary
   in the development of such compounds; consummating and maintaining
   collaborative arrangements with corporate partners for product development;
   achieving milestones under collaborative arrangements with corporate
   partners; developing the capacity to manufacture, market and sell the
   company's products, either directly or with collaborative partners;
   developing market demand for and acceptance of such products; competing
   effectively with other pharmaceutical and biotechnological products;
   obtaining adequate reimbursement from third party payers; attracting and
   retaining key personnel; legal costs and the outcome of outstanding legal
   proceedings and investigations; obtaining patent protection for discoveries
   and risks associated with commercial limitations imposed by patents owned or
   controlled by third parties. The company does not undertake any obligation to
   update any forward-looking statements, whether as a result of new
   information, future events or otherwise.