PRESS RELEASE JUNE 6, 2006
Published on June 8, 2006
Exhibit 99.1
ACCESS NEWS
Contact: Company Contact: Investor Relations
Stephen B. Thompson Donald C. Weinberger
Vice President & CFO Wolfe Axelrod Weinberger LLC
(214) 905-5100 (212) 370-4500
ACCESS PHARMACEUTICALS IMPLEMENTS 1 FOR 5
REVERSE STOCK SPLIT
Dallas, TEXAS, June 5, 2006, 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 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.
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