FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SCO CAPITAL PARTNERS LLC
  2. Issuer Name and Ticker or Trading Symbol
ACCESS PHARMACEUTICALS INC [ACCP.OB]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
1285 AVENUE OF THE AMERICAS, 35TH FLOOR, 
3. Date of Earliest Transaction (Month/Day/Year)
02/26/2009
(Street)

NEW YORK, NY 10019
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/26/2009   J(1)   24,232 A $ 0 (1) 35,679 I By The Steven H. Rouhandeh 1999 Family Trust (2)
Common Stock 02/26/2009   J(1)   101,541 A $ 0 171,085 D (3) (4)  
Common Stock 02/26/2009   J(1)   1,510,926 A $ 0 3,252,142 (6) D (3) (5)  
Common Stock               11,447 I By The Chloe H. Rouhandeh Trust (2)
Common Stock               11,447 I By The Sophie C. Rouhandeh Trust (2)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SCO CAPITAL PARTNERS LLC
1285 AVENUE OF THE AMERICAS, 35TH FLOOR
NEW YORK, NY 10019
    X    
Beach Capital LLC
C/O SCO CAPITAL PARTNERS LLC
1285 AVENUE OF THE AMERICAS, 35TH FLOOR
NEW YORK, NY 10019
    X    
Rouhandeh Steven H
C/O SCO CAPITAL PARTNERS LLC
1285 AVENUE OF THE AMERICAS, 35TH FLOOR
NEW YORK, NY 10019
    X    

Signatures

 /s/ SCO Capital Partners LLC, by Steven H. Rouhandeh, Managing Member   06/18/2009
**Signature of Reporting Person Date

 /s/ Beach Capital LLC, by Steven H. Rouhandeh, Managing Member   06/18/2009
**Signature of Reporting Person Date

 /s/ Steven H. Rouhandeh   06/18/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares issued in consideration of merger of MacroChem Corporation into a subsidiary of Access Pharmaceuticals, Inc.
(2) Steven H. Rouhandeh is one of the trustees of this entity.
(3) This Form 4 is being filed by Steven H. Rouhandeh and by SCO Capital Partners LLC and Beach Capital LLC. Mr. Rouhandeh is the managing member of SCO Capital Partners LLC and Beach Capital LLC.
(4) Beach Capital LLC is the direct beneficial owner of these securities.
(5) SCO Capital Partners LLC is the direct beneficial owner of these securities.
(6) Total amount includes an additional 27,347 shares received by SCO Capital Partners LLC ("SCO") as a stock dividend with respect to the shares of preferred stock of Access Pharmaceuticals, Inc. held by SCO.

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