Tuesday, October 12, 2010 12:55:16 AM
Written by M.E.Garza
Monday, 11 October 2010 17:14
1retweet0As we told our subscribers this past weekend, the stock for Access Pharmaceuticals (OTC: ACCP) has been acting very bullishly. During the past two weeks the company the press releases have caught our attention and the stock has been pushing higher. Our advice was for investors, just as it was back in September, was to put the stock on their watch lists.
While candle stick analysis shows some uncertainty in the market direction at the end of Columbus Day trading, shares of ACCP broke through resistance on Friday and closed up at $2.63+0.13 (5.20%) with the next 2 levels of minor resistance showing at $2.69 and $2.75 respectively. In addition to everything else that is shaping up for them, Greg Zeng of Zacks recently reconfirmed his $8.00 price target for ACCP and stated his belief that "third quarter financials are expected to be better than our estimates."
This morning, the company announced some highlights from a poster presentation on European clinical experience of MuGard at this year's European Society of Medical Oncology Conference in Milan, Italy.:
MuGard provided a significant improvement and/or stabilization of oral mucositis lesions and symptoms of oral mucositis (OM) in more than 75% of cancer patients treated with radiotherapy/chemotherapy;
Patients reported a 52% significant reduction in oral discomfort (oral pain and swallowing ability) in patients with pre-existing lesions of OM, and reported a substantial reduction in the use of pain medication;
MuGard has a ready-to-use formulation that is well accepted by 86% of patients, as reported in this assessment program;
No MuGard-related adverse reactions have been identified in clinical practice;
MuGard represents a valuable therapeutic option in the treatment and prevention of OM in cancer patients undergoing radio/chemotherapy.
In an interview with BioMedReports Access Pharmaceuticals, CEO Jeff Davis said: “As we continue our extensive outreach to top oncology networks, we are reminded constantly of the dire need for something that works to treat oral mucositis. We are pleased to learn the additional European clinical experience data strongly supports MuGard as a curative treatment for Oral Mucositis. This curative data coupled with the previously announced impressive prophylactic (preventative) data, further positions MuGard as the leading treatment for Oral Mucositis currently available today.”
See the today's ACCP candlestick chart
ACCP's Equities Research Report
Access Pharmaceuticals, Inc.
2.63 - (0.00%)
Intraday |
3 Month |
6 Month |
1 Year
Quotes delayed at least 20 mins.
Access also announced recently that it has made significant progress with its proprietary Cobalamin-targeted drug-delivery program for siRNA therapies. As a result, Access rebranded the targeted-drug delivery technology as CobaCyte™; and submitted additional patent applications for its improved CobaCyte formulations, including siRNA compositions.
According to the company, the siRNA application has shown significant promise. There are several diseases for which this targeting approach holds promise; for example, cancer, rheumatoid arthritis, psoriasis, acute leukemia, lymphomas, Crohn’s disease, ulcerative colitis, and multiple sclerosis. Access Pharmaceuticals is developing applications of this technology in the area of oncology, while seeking collaborations and partnerships for development of this technology for other diseases.
Additionally, Access has initiated a program whereby proprietary formulations of currently marketed chemotherapies will be developed and tested to assess CobaCyte's ability to enhance drug pharmacokinetics and pharmacodynamics.
In a previous press release issued in late September, the company announced that signed a $30 million supply agreement for it's novel; ready-to-use mucoadhesive oral wound rinse and coating MuGard with RHEI Pharmaceuticals, Inc. ("RHEI"), a specialty pharmaceutical company focused on bringing proprietary medicines to the China market. Access will ensure manufacturing capacity of up to a minimum of $30 million of product in the licensed territories. The market for the treatment of oral mucositis is estimated to be in excess of $1 billion world-wide.
At the time, BioMedReports reached out to Access Pharmaceuticals, CEO Jeff Davis to ask about that agreement and this is what he had to say:
"Central to the announcement is both the sublicense agreement between RHEI and Jian An, and the $30M MuGard supply agreement. Jian An is a large, well-established pharma company in China with over 150 branch offices and 1400 sales reps calling on hospitals, clinics, etc. It was the expectation of a larger, more significant commercial launch in China that triggered the agreement and necessitated the need to secure some manufacturing capacity through the supply agreement with Access Pharmaceuticals. We are certain that Access, through our third-party manufacturer Accupac, can meet the near-term needs of RHEI/Jian An for its launch of MuGard. Additionally, this relationship allows Access to explore additional collaborative opportunities with Jian An on our other programs."
We are told that Jian An is responsible for finalizing marketing approval of MuGard and though they remain on-track with the finalizing the regulatory process in each area, they wanted to ensure adequate supply of MuGard to push through its promotion channels for when marketing approval is finalized.
See the today's ACCP chart here:
http://stockcharts.com/h-sc/ui?s=ACCP&p=D&b=5&g=0&id=p64573069591
Research Report here:
http://biomedreports.com/Download-document/141-Equity-Report-for-Access-Pharmaceuticals-ACCP.html
More information about ACCP's Cobalamin-targeted drug-delivery program can be found here:
http://www.accesspharma.com/product-programs/cobalamin-targeted-delivery/
Disclosure: No positions
Read the full report: http://biomedreports.com/2010101157747/chances-are-access-pharmaceuticals-will-keep-trending-higher.html#ixzz127KPTwNA
Recent ABEO News
- Abeona Therapeutics Announces Pricing of $75 Million Underwritten Offering of Common Stock and Pre-Funded Warrants • GlobeNewswire Inc. • 05/03/2024 11:30:00 AM
- Abeona Therapeutics Provides Regulatory Update on Pz-cel • GlobeNewswire Inc. • 04/22/2024 08:05:00 PM
- Abeona Therapeutics Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) • GlobeNewswire Inc. • 04/01/2024 12:30:00 PM
- Abeona Therapeutics Reports Full Year 2023 Financial Results and Announces Completion of FDA Inspections • GlobeNewswire Inc. • 03/18/2024 11:30:00 AM
- Abeona Therapeutics Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) • GlobeNewswire Inc. • 03/05/2024 12:30:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 09:51:40 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 09:20:25 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 09:15:50 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 07:38:19 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/12/2024 10:23:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/07/2024 01:30:11 PM
- Abeona Therapeutics Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) • GlobeNewswire Inc. • 02/01/2024 09:05:00 PM
- Abeona Therapeutics Announces Progress Update on Pz-cel Biologics License Application (BLA) • GlobeNewswire Inc. • 02/01/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/22/2024 09:30:11 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/10/2024 09:22:28 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/08/2024 12:35:25 PM
- Abeona Therapeutics Announces $50 Million Credit Facility • GlobeNewswire Inc. • 01/08/2024 12:30:00 PM
- Abeona Therapeutics Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) • GlobeNewswire Inc. • 12/15/2023 12:30:00 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 12/04/2023 09:09:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/27/2023 12:30:12 PM
- Abeona Therapeutics Announces FDA Accepts and Grants Priority Review for Pz-cel Biologics License Application (BLA) • GlobeNewswire Inc. • 11/27/2023 12:30:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/13/2023 01:01:04 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/13/2023 12:35:13 PM
- Abeona Therapeutics Reports Third Quarter 2023 Financial Results and Corporate Developments • GlobeNewswire Inc. • 11/13/2023 12:30:00 PM
- Abeona Therapeutics Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) • GlobeNewswire Inc. • 11/01/2023 11:30:00 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM