UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of report (Date of earliest event reported): October 24, 2007
Access
Pharmaceuticals, Inc.
------------------------------------------------------
(Exact
name of registrant as specified in its charter)
Delaware
0-9314
83-0221517
------------------------
------------------------
-------------------
(State
of
Incorporation) (Commission File Number)
(I.R.S. Employer
Identification
No.)
2600
Stemmons Freeway, Suite 176, Dallas,
Texas 75207
---------------------------------------------------------- ---------
(Address
of principal executive
offices)
(Zip Code)
Registrant's
telephone number, including area code: (214) 905-5100
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Item
1.01 Entry into a Material Definitive Agreement
------------------------------------------------------
On
October 24, 2007, Access Pharmaceuticals, Inc. ("Access") entered into
an
amendment to its 7.0% (Subject to Adjustment) Convertible Promissory
Notes
with Oracle Partners LP, Oracle Institutional Partners LP, SAM Oracle
Investments Inc. and Oracle Offshore Ltd. agreeing to extend the
maturity date of the notes to November 16, 2007 from October 26, 2007.
The
principal amount of the notes in the aggregate total
$4,015,000.
On
October 24, 2007, Access entered into an amendment to its 7.5% Convertible
Notes with SCO Capital Partners LLC, Beach Capital LLC and Lake
End
Capital LLC agreeing to extend the maturity date of the notes to
November 15, 2007 from October 25, 2007. The principal amount of the
notes
in
the aggregate total $6,000,000.
All
other
terms of the notes remain the same.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by
the
undersigned hereunto duly authorized.
Access
Pharmaceuticals, Inc.
(Registrant)
By:
/s/ Stephen B. Thompson
------------------------------
Stephen
B. Thompson
Vice
President and
Chief
Financial Officer
Dated
October 24, 2007
2