Access Pharmaceuticals Implements 1 for 5 Reverse Stock Split
05 6월 2006 - 10:30PM
PR Newswire (US)
DALLAS, June 5 /PRNewswire-FirstCall/ -- Access Pharmaceuticals,
Inc. (ACCP.OB) (formerly AKCA.OB) today announced a one for five
reverse stock split. The reverse split will take effect and the
shares will begin trading on a post-split basis at the opening of
business on Monday, June 5, 2006. The Company's new ticker symbol
is "ACCP" and the Company's common stock will be traded on the OTC
Bulletin Board. The shareholders at a meeting May 19, 2006 approved
a five to one reverse stock split of the Company's common stock.
After giving effect to the one for five reverse stock split, the
Company will have approximately 3.5 million shares outstanding.
Shareholders will be notified by American Stock Transfer &
Trust Company, Access' stock transfer agent, regarding the process
for receiving new share certificates. The reverse split brings the
number of shares outstanding and the share price to a level more
consistent with companies of our size and stage of development.
Access Pharmaceuticals, Inc. is an emerging biopharmaceutical
company that develops and commercializes propriety products for the
treatment and supportive care of cancer patients. Access' products
include AP5346, currently in Phase II clinical testing of patients
with ovarian cancer and head and neck cancer, and our mucoadhesive
liquid technology for the treatment of patients with mucositis. The
Company also has other advanced drug delivery technologies
including vitamin-mediated targeted delivery and oral drug
delivery. For additional information on Access Pharmaceuticals,
please visit our website at http://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
are subject to numerous risks, including but not limited to the
risks detailed in the Company's Annual Report on Form 10-K for the
year ended December 31, 2005 and other reports filed by us with the
Securities and Exchange Commission. DATASOURCE: Access
Pharmaceuticals, Inc. CONTACT: Stephen B. Thompson, Vice President
& CFO, Access Pharmaceuticals, Inc., +1-214-905-5100; Investor
Relations, Donald C. Weinberger, Wolfe Axelrod Weinberger LLC,
+1-212-370-4500 Web site: http://www.accesspharma.com/
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