Exhibit
5.1
Bingham
McCutchen LLP
One
Federal Street
Boston,
Massachusetts 02110
October
7, 2008
Access
Pharmaceuticals, Inc.
62500
Stemmons Freeway, Suite 176
Dallas,
TX 75207
Ladies
and Gentlemen:
We have acted as counsel to Access
Pharmaceuticals, Inc., a Delaware corporation (the "Company"), in connection
with the registration under the Securities Act of 1933, as amended, on Form
S-1/A (the "Registration Statement"), of 9,160,228 shares of the Company's
Common Stock, $0.01 par value per share ("Common Stock"), consisting of (i)
7,577,868 shares of Common Stock (the "Underlying Preferred Shares") issuable
under the terms of the Certificate of Designations, Rights and Preferences of
Series A Cumulative Convertible Preferred Stock of Access Pharmaceuticals,
Inc.(the "Series A Certificate"), filed November 9, 2007, and (ii) 1,582,360
shares of Common Stock (the “Dividend Shares”) issuable in lieu of cash
dividends pursuant to the terms of the Series A Certificate (the Underlying
Preferred Shares, collectively with the Dividend Shares, the "Shares") issuable
to certain holders of Series A Cumulative Convertible Preferred Stock. (the
"Series A Preferred Stock").
We have reviewed the corporate
proceedings of the Company with respect to the authorization of the issuance of
the Shares. We have also examined and relied upon originals or
copies, certified or otherwise identified or authenticated to our satisfaction,
of such corporate records, instruments, agreements or other documents of the
Company, and certificates of officers of the Company as to certain factual
matters, and have made such investigation of law and have discussed with
officers and representatives of the Company such questions of fact, as we have
deemed necessary or appropriate as a basis for the opinions hereinafter
expressed. In our examination, we have assumed the genuineness of all
signatures, the conformity to the originals of all documents reviewed by us as
copies, the authenticity and completeness of all original documents reviewed by
us in original or copy form and the legal competence of each individual
executing any document.
This opinion is limited solely to the
Delaware General Corporation Law, including the applicable provisions of the
Delaware Constitution and the reported judicial decisions interpreting such law,
as in effect as of the date hereof.
Based upon and subject to the
foregoing, we are of the opinion that the Shares to be issued upon conversion of
the Series A Preferred Stock or upon payment of dividends in lieu of cash
dividends by the Company under the Series A Certificate have been duly
authorized, and when delivered to the Holders (as such term is defined in the
Series A Certificate) in accordance with the terms of the Series A Certificate,
will be validly issued, fully paid and nonassessable.
This opinion supersedes our opinion
dated December 10, 2007 and filed as Exhibit 5.1 to the Company’s Form SB-2
filed on December 10, 2007.
We hereby
consent to the filing of this opinion as an exhibit to the Registration
Statement and to the reference to this firm under the heading "Legal Matters" in
the Registration Statement.
Very
truly yours,
/s/
Bingham McCutchen LLP
BINGHAM
MCCUTCHEN LLP