Access Pharmaceuticals Reports First Quarter Results MuGard Gross Revenues Up 118% Quarter-on-Quarter and Over 20% from Q4 2012
DALLAS and NEW YORK, May 16, 2013 /PRNewswire/ -- ACCESS PHARMACEUTICALS, INC. (OTCBB: ACCP), an emerging biopharmaceutical company, released its first quarter ended March 31, 2013 financial results. The company indicated it will host a conference call at a later date to review financial results and ongoing commercial MuGard progress made within the quarter. MuGard, Access' lead product, is a novel; ready-to-use mucoadhesive oral wound rinse and coating indicated for the management of oral mucositis and stomatitis, debilitating side effects of many anticancer treatments, and all types of oral wounds.
Some the Company's first quarter highlights include:
- MuGard gross revenues for the quarter ended March 31, 2013 were $1.255 million, an increase of 118% compared to the first quarter 2012 and an increase of over 20% from the fourth quarter 2012;
- Oncology Nursing Society (ONS) Congress presentation detailing positive clinical data from Rush University Medical Center 128 patient MuGard study;
- Executed Federal Supply Schedule Agreement with the U.S. Department of Veterans Affairs (VA), a large contract through which federal customers can acquire MuGard directly from commercial suppliers, and seen VA locations throughout North America acquiring MuGard;
- Executed new agreement with a large oncology group purchasing organization (GPO), Raintree Oncology Services along with their supplier Metro Medical Supply.
Access Pharmaceuticals, Inc. is an emerging biopharmaceutical company that develops and commercializes proprietary products for the treatment and supportive care of cancer patients. Access' products include MuGard™ (www.MuGard.com), which has received FDA-marketing clearance for the management of patients with mucositis, and ProLindac™, a second generation DACH platinum drug. The Company also has other advanced drug delivery technologies including CobaCyte™-mediated targeted delivery and CobOral-oral drug delivery, its proprietary nanopolymer delivery technology based on the natural vitamin B12 uptake mechanism. 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 include those relating to: our cash burn rate, clinical trial plans and timelines and clinical results for ProLindac, MuGard and Cobalamin, our ability to achieve clinical and commercial success and our ability to successfully develop marketed products. These statements are subject to numerous risks, including but not limited to Access' need to obtain additional financing in order to continue the clinical trial and operations and to the risks detailed in Access' Annual Reports on Form 10-K and other reports filed by Access with the Securities and Exchange Commission.
Company and Media Contact:
Director of Investor Relations
Access Pharmaceuticals, Inc.
SOURCE Access Pharmaceuticals, Inc.