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GAUNT and haggard Michael Douglas has wasted away to a terrifying 118 pounds, say pals who fear the stick-thin cancer patient may have only months to live!

Michael was diagnosed with stage 4 oral cancer in 2010 and declared he’d beat the deadly disease after aggressive radiation treatments and chemotherapy.

But earlier this year, he was photographed with lesions on his face, nose and chest, suggesting that the dreaded disease had spread! Then just weeks ago, pictures showed him looking pale and skeletal — and weight loss specialist Dr. Stuart Fischer estimates Douglas has lost at least 28 pounds in just six months.

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