Access Pharmaceuticals Inc. (ACCP.OB)

Access Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes propriety products for the treatment and supportive care of cancer patients. Its products include ProLindac, which is in Phase II clinical testing of patients with ovarian cancer; and MuGard for the management of patients with mucositis, a debilitating side effect of various anticancer treatments. The company also has other advanced drug delivery technologies, including Cobalamin-mediated targeted delivery and oral drug delivery, its proprietary nanopolymer delivery technology based on the natural vitamin B12 uptake mechanism; Angiolix, a humanized monoclonal antibody which acts as an anti-angiogenesis factor and is targeted to breast cancer; Prodrax, a non-toxic prodrug that is activated in the hypoxic zones of solid tumors to kill cancer cells; and Alchemix, a chemotherapeutic agent that combines multiple modes of action to overcome drug resistance. In addition, Access Pharmaceuticals is developing Phenylbutyrate, an HDAC inhibitor and differentiating agent that is a Phase II clinical candidate. The company, through its subsidiary, MacroChem Corporation, offers three late-stage product candidates: Pexiganan, a novel topical anti-infective for the treatment of diabetic foot infection; EcoNail, a topically applied econazole lacquer for the treatment of onychomycosis, a condition commonly known as nail fungus; and Thiarabine, a nucleoside analog which demonstrated pre-clinical and clinical activity in certain cancers. Access Pharmaceuticals offers MuGard in Germany, Italy, the United Kingdom, Greece, and the Nordic countries by its European commercial partner, SpePharm Holding, B.V. The company was founded in 1988 and is based in Dallas, Texas.

For the nine months ended 30 September 2006, Access Pharmaceuticals, Inc. reported no revenue. Net loss from continuing operations increased 64% to $10.2M. Revenues reflect the absence of any revenue generating activities due to discontinued operations. Higher loss reflects an increase in research & development expenses, higher interest & other expenses and the presence of unrealized loss on fair value of warrants.