Managed Care Law Weekly
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Access Pharmaceuticals
Targeted drug delivery company reports status of convertible notes
October 9th, 2005
Access Pharmaceuticals, Inc., (AKC) announced the status of its 7% (subject to adjustment) convertible subordinated notes ($8,030,000), which were due September 13, 2005. Oracle Partners, LP, the holder of $4,015,000 of the Notes has extended the due date of its note until October 13, 2005. The company did not make payment on the other $4,015,000 due September 13, 2005 to another holder. The holder of our notes due September 2008 agreed to defer the interest payment due on such notes to September 13, 2006 and agreed to extend the maturity date of such notes to September 13, 2010. Access is currently negotiating with a number of...
Source: Managed Care Law Weekly (2005-10-09)
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