Access Pharmaceuticals, Inc. (OTC:ACCP) is a biopharmaceutical company focused on products for cancer and supportive care. The price of ACCP fluctuates a lot and often without any particular reason.
Yesterday, ACCP closed down 4.76% down at $2. The volume was nearly ten times the average. All that happened without anything new to suggest a significant move in either direction.[BANNER]
Access Pharmaceuticals has one product approved by the FDA, two in phase II clinical development, and three in preclinical.
The company launched its MuGard product more than two years ago, which is an accomplishment a few companies on the OTC can claim, however, ACCP is still struggling to generate any profit.
For the quarter ended June 30, ACCP recorded $151 thousand total revenues and a $2.2 million loss from operations. It also had a negative working capital and substantial derivative liabilities in the form of warrants and preferred stock.
The biopharmaceutical sector is still a good place to be in, but ACCP may need to get some more convincing financial results if the stock is to make some stable gains.
