Access Pharmaceuticals may be delisted from AMEX

By Ted A. Knutson

Washington, Dec. 16 - Access Pharmaceuticals, Inc. said Friday it received notice from the staff of the American Stock Exchange that the company no longer complies with AMEX's continued listing standards due to losses from continuing operations and/or net losses in two of its most recent fiscal years with shareholders' equity of less than $2 million.

Amex said the company also is in violation AMEX rules due to losses from continuing operations and/or net losses in three of its most recent fiscal years with shareholders' equity of less than $4 million and due to losses from continuing operations and/or net losses in four of its most recent fiscal years with shareholders' equity of less than $6 million.

The company's shares could be delisted, the company said.

Access said it will appeal this determination and request a hearing before a committee of AMEX to maintain its listing. The company expects the hearing to take place in January.

Dallas-based Access Pharmaceuticals is an emerging pharmaceutical company developing unique polymer linked cytotoxics for use in the treatment of cancer.

The announcement was made in an 8-K filing with the Securities and Exchange Commission.

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