Access Pharmaceuticals to focus on ProLindac, MuGard

By Elaine Rigoli

Tampa, Fla., June 7 - Access Pharmaceuticals, Inc. announced new strategic and clinical initiatives in the areas of oncology and oncology supportive care.

"The past 12 months marked a very challenging period in Access' history. Despite significant challenges, as a team we were able to successfully divest non-core assets, to right-size our organization including significant outsourcing of clinical services, to focus clinical and regulatory plans for our lead cancer drugs ProLindac and MuGard, and to successfully complete a financing in the first quarter of the year," chief executive officer Rosemary Mazanet said in a news release.

"The achievement of these milestones enables Access to focus on the value creation potential of our oncology products and programs."

The company's restructuring efforts include previously announced financing and a one-for-five reverse stock split.

The company also announced the appointment of Jeffrey Davis to serve as new chairman of the board. J. Michael Flinn, the former chairman, will continue to serve as a director until his term expires.

Access Pharmaceuticals is an emerging biopharmaceutical company located in Dallas.

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