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Access Pharmaceuticals stock undervalued-magazine

Thu Feb 1, 2007 9:42pm EST

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NEW YORK, Feb 1 (Reuters) - Access Pharmaceuticals (ACCP.OB), a tiny biotechnology company, is undervalued based on the market potential of its cancer products, fund managers told BusinessWeek magazine in its Feb. 12 issue.

Access, which is traded over-the-counter, has one product, MuGard, approved by the U.S. Food and Drug Administration and another one in mid-stage clinical trials, the article stated.

MuGard is a treatment for oral mucositis, a side effect of radiation therapy that affects some 40 percent of a $1.5 billion market. The other drug, ProLindac, has various cancer applications and is a "potential blockbuster," H4 Capital hedge fund investor Kevin Raidy told the magazine.

Raidy said MuGard alone is worth more than the stock's current value, according to BusinessWeek.

Access closed at $3 on Thursday, up 5 cents.



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