Access Pharmaceuticals announces receipt of FDA approval for Aphthasol.DALLAS--(BUSINESS WIRE)--Dec. 19, 1996-- - Product Is The First Prescription Treatment Available For Canker Sores Canker Sores Definition Canker sores are small sores or ulcers that appear inside the mouth. They are painful, self-healing, and can recur. Description - Access Pharmaceuticals, Inc. (OTC BULLETIN BOARD OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : AXCS AXCS Senior Chief Aviation Antisubmarine Warfare Technician (Naval Rating) ) today announced that the Block Drug Company has received U.S. Food and Drug Administration ("FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ") approval for Aphthasol(TM), which was developed through a joint venture between the two companies. ACCESS sold its rights to Aphthasol(TM) to Block Drug in September, 1995, and under the terms of the agreement, received an up front payment and will receive royalty payments on all product sales in excess of $25 million. Aphthasol(TM) accelerates healing for faster pain relief of aphthous ulcers or canker sores and is the first and only prescription medical treatment for this condition, which affects approximately one in four people. In the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. alone, market research indicates that canker sores result in more than 7,000,000 patient visits to medical practitioners per year. Kerry Gray, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Access Pharmaceuticals, Inc., responded to the news, "We are pleased to see that Block Drug has received FDA approval for the marketing of Aphthasol(TM). Block Drug's Oral Health Care division with its strong dental franchise and commitment to bringing innovative therapeutics to the dental professional renders them the ideal choice for marketing Aphthasol(TM). This is a unique opportunity to provide dentists and physicians with a treatment for a condition for which no other prescription medication exists." Mr. Gray continued, "We look forward to the successful launch of Aphthasol(TM), as this is one of the initial steps in establishing a revenue base to fund the development of our advanced drug delivery systems." This press release contains certain statements that are forward-looking and that involve risks and uncertainties, including but not limited to the uncertainties associated with research and development activities, future capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. , dependence on others, collaborations and other risks detailed in the Company's reports filed under the Securities and Exchange Act, including the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1995. Access Pharmaceuticals, Inc. is a polymer-based, therapeutics company providing a new dimension in drug delivery by controlling site directed targeting, localized release and clearance of therapeutic drugs, imaging agents and radiopharmaceuticals. CONTACT: Access Pharmaceuticals Inc. Kerry P. Gray, (214) 905-5100 or Financial Contact: Lippert/Heilshorn & Associates, Inc. Keith Lippert/Evan Smith, (212) 838-3777 |
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