Access Pharmaceuticals, Inc. (OTC:ACCP) has been moving down fast over the past days. Yesterday, the stock lost 22.81% of its 
price, while its traded volume substantially increased. So what’s next today
Following the records, most probably the loss may be broken due to a piece of fresh news on Access. The announcement was released yesterday when ACCP reported a private placement financing of $5.2 million with institutional and accredited investors. The money is in the form of units consisting of the company’s common stock and warrants, and the transaction is expected to close on or about Nov 7, this year.
There is a big chance this news to inspire investors, though the transaction on the agreement is yet to be closed.[BANNER]
Access Pharmaceuticals is a biopharmaceutical company that has one product approved by the FDA, two in phase II clinical development, and three in preclinical. Its MuGard product was launched two years ago, however, the company has not generated any profit yet.
As of June 30 this year, revenues of ACCP totaled $151 thousand, while the loss from operations reached $2.2 million. Besides, it had a negative working capital and substantial derivative liabilities in the form of warrants and preferred stock.
Based on the above-mentioned, it looks like ACCP will need much better results to convince investors it is getting profitable.
