Navigation Links
Access Pharmaceuticals Announces Private Placement of $5.2 Million
Date:11/2/2011

DALLAS and NEW YORK, Nov. 2, 2011 /PRNewswire/ -- ACCESS PHARMACEUTICALS, INC. (OTCBB: ACCP), a biopharmaceutical company leveraging its proprietary drug-delivery platforms to develop treatments in areas of oncology, cancer supportive care and diabetes, announced that it has entered into definitive agreements for the purchase of $5.2 million of units, consisting of Access common stock and warrants in a private placement financing with a select group of institutional and accredited investors.  Each unit consists of the one share of common stock at $1.45 share price, with 50% warrant coverage with an exercise price of $1.67 per share and a term of two and half years and 50% warrant coverage with an exercise price of $2.00 per share and a term of five years.  The Company is required to file a resale registration statement within 30 days following the closing that covers the resale by the investors of the shares and the shares issuable upon exercise of the warrants. The transaction is expected to close on or about November 7, 2011, subject to the satisfaction of customary closing conditions.

"We believe this financing gives us the necessary resources to advance MuGard significantly in the United States and globally," said Jeffrey Davis, CEO of Access Pharmaceuticals, Inc.  He continued, "We appreciate the continued support of our investors."

Cowen and Company, LLC and Rodman & Renshaw LLC, a wholly-owned subsidiary of Rodman & Renshaw Capital Group, Inc., acted as the exclusive co-placement agents for the offering.

The securities issued in this private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and were issued and sold in a private placement pursuant to Regulation D of the Securities Act.

About Access:Access Pharmaceuticals, Inc. is an emerging biopharmaceutical company that develops and commercializes proprietary products for the treatment and supportive care of cancer patients. Access' products include MuGard™ (www.MuGard.com), which has received FDA marketing clearance for the management of patients with mucositis, ProLindac™, a second generation DACH Platinum in Phase 2 clinical testing of patients with ovarian cancer, and Thiarabine™, a novel nucleoside analog that has demonstrated both pre-clinical and clinical activity in certain cancers; currently in a Phase 1/2a trial in hematological malignancies at M.D. Anderson Cancer Center in Houston, Texas.  

The company also has other advanced drug delivery technologies including CobaCyte™-mediated targeted delivery and CobOral-oral drug delivery, its proprietary nanopolymer delivery technology based on the natural vitamin B12 uptake mechanism.  For additional information on Access Pharmaceuticals, please visit our website at www.accesspharma.com.

This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties. These statements include those relating to: our cash burn rate, clinical trial plans and timelines and clinical results for ProLindac, MuGard, Thiarabine and Cobalamin and other product candidates, our ability to achieve clinical and commercial success and our ability to successfully develop marketed products. These statements are subject to numerous risks, including but not limited to Access' need to obtain additional financing in order to continue the clinical trial and operations and to the risks detailed in Access' Annual Reports on Form 10-K and other reports filed by Access with the Securities and Exchange Commission.Company and Media Contact:

Contact: Investor RelationsChristine Berni

Donald C. WeinbergerDirector of Investor Relations

Wolfe Axelrod Weinberger Assoc. LLCAccess Pharmaceuticals, Inc.

(212) 370-4500(212) 786-6208
'/>"/>

SOURCE Access Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Prostate Cancer Roundtable Expresses Concern over Federal Recommendations Impeding Access to the PSA, a Key Cancer Screening Test
2. MEDfx Demonstrates Potential of Connected Healthcare by Enabling Military and Civilian Medical Professionals to Securely Access Records, Improve Care Coordination
3. Pharma Pricing and Reimbursement Outlook: Optimizing price and market access in a recessionary climate
4. FTC Study Finds that in FY 2011, Pharmaceutical Industry Continued to Make Numerous Business Deals that Delay Consumers Access to Lower-Cost Generic Drugs
5. Ericom AccessNow™ for Enterprise Portals - Secure, Portal-based, HTML5 Web Access to Windows Applications, Desktops and Services
6. PhotoMedex Increases Access to Care for Children in Recognition of World Psoriasis Day, Oct. 29
7. Varian Medical Systems Publishes First Sustainability Report Outlining Environmental, Charitable, Safety and Health Access Achievements
8. Disney World: Theme Park Accessibility Is Not an Option, Its a Necessity
9. Access Pharmaceuticals Updates MuGard Website with New Video Featuring Clinical Feedback and Manufacturing Footage
10. American Association for Homecare Calls on Joint Deficit Committee in Congress to Preserve Homecare Access for Millions of Americans
11. More Than Half of Massachusetts Parents Say Their Kids Have Access to Abusable Prescription Drugs in Their Homes
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/19/2017)... 19, 2017  Novartis today announced the publication ... Lung, and Blood Institute (NHLBI) of the National ... patients with treatment-naïve severe aplastic anemia (SAA) achieved ... eltrombopag at the initiation of and concurrently with ... three sequential treatment groups, or cohorts. Cohort 3 ...
(Date:4/18/2017)... MINNEAPOLIS , April 18, 2017 Cogentix ... focused on providing the Urology, Uro/Gyn and Gynecology markets ... for the first quarter ended March 31, 2017 after ... The Company will host a conference call ... day on Tuesday, May 2, 2017 at 4:30 p.m. ...
(Date:4/18/2017)... , April 18, 2017  Astute Medical, Inc., developer ... series to be presented at the 2017 National Kidney ... today and continues through April 22. Physicians will present ... used to assess risk for acute kidney injury (AKI) ... failure (ADHF). Elevated levels of TIMP-2 ...
Breaking Medicine Technology:
(Date:4/29/2017)... (PRWEB) , ... April 29, 2017 , ... Phytomer USA ... As a Phytomer Account Manager, Smith’s role is to provide excellent customer ... that make up The Phytomer Group. Smith comes to Phytomer with a wealth of ...
(Date:4/28/2017)... ... April 28, 2017 , ... The National Campaign to ... the Access to Contraception for Women Servicemembers and Dependents Act of 2017. The ... will help to ensure that all members of the Armed Forces receive high ...
(Date:4/28/2017)... ... April 28, 2017 , ... Horizon Blue Cross Blue Shield of New Jersey ... “A” and its outlook as “stable.” At the same time, the ratings agency cautioned ... recent years, dip below “capital adequacy” thresholds required for its strong rating. , “Horizon ...
(Date:4/28/2017)... ... April 28, 2017 , ... The Radiology Business Management ... officers for 2017-2018. The annual board election process has been in place since the ... , Thomas C. Dickerson, Ed.D., FACHE, succeeds Jim Hamilton, MHA, CMM, FRBMA, as president. ...
(Date:4/28/2017)... ... April 28, 2017 , ... ... liability could substantially improve drug safety and minimize the cost of development. In ... ion channel inhibition using cell lines and for cardiac toxicity using induced pluripotent ...
Breaking Medicine News(10 mins):