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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000899140-08-001307.txt : 20080610
<SEC-HEADER>0000899140-08-001307.hdr.sgml : 20080610
<ACCEPTANCE-DATETIME>20080610163825
ACCESSION NUMBER:		0000899140-08-001307
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20071109
FILED AS OF DATE:		20080610
DATE AS OF CHANGE:		20080610

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACCESS PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0000318306
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				830221517
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2600 N STEMMONS FRWY
		STREET 2:		STE 176
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75207
		BUSINESS PHONE:		2149055100

	MAIL ADDRESS:	
		STREET 1:		2600 N STEMMONS FRWY
		STREET 2:		STE 176
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHEMEX PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHEMEX CORP/WY
		DATE OF NAME CHANGE:	19831102

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ORACLE INVESTMENT MANAGEMENT INC
		CENTRAL INDEX KEY:			0001012622

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15771
		FILM NUMBER:		08891176

	BUSINESS ADDRESS:	
		STREET 1:		200 GREENWICH AVE
		STREET 2:		3RD FL
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830
		BUSINESS PHONE:		2126886262

	MAIL ADDRESS:	
		STREET 1:		200 GREENWICH AVE
		STREET 2:		3RD FL
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>oimi_accp3-061008ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2007-11-09</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000318306</issuerCik>
        <issuerName>ACCESS PHARMACEUTICALS INC</issuerName>
        <issuerTradingSymbol>ACCP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001012622</rptOwnerCik>
            <rptOwnerName>ORACLE INVESTMENT MANAGEMENT INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>200 GREENWICH AVE, 3RD FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share (&quot;Common Stock&quot;)</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>34743</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Warrants to purchase Common Stock (the &quot;Warrants&quot;)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>143773</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Series A Cumulative Convertible preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F4"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F4"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>287546</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">See Exhibit 99.1.</footnote>
        <footnote id="F2">See Exhibit 99.1.</footnote>
        <footnote id="F3">See Exhibit 99.1.</footnote>
        <footnote id="F4">See Exhibit 99.1.</footnote>
        <footnote id="F5">See Exhibit 99.1.</footnote>
    </footnotes>

    <remarks>Exhibit List:

Exhibit 99.1 - Explanation of Responses</remarks>

    <ownerSignature>
        <signatureName>ORACLE INVESTMENT MANAGEMENT, INC., By:  /s/ Larry N. Feinberg, President</signatureName>
        <signatureDate>2008-06-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>o4183189.txt
<DESCRIPTION>EXHIBIT 99.1 EXPLANATION OF RESPONSES
<TEXT>

                                                                    Exhibit 99.1



                            Explanation of Responses


(1)  The shares of Common Stock to which this note relates are held directly by
     Oracle Offshore Limited ("Oracle Offshore") and SAM Oracle Investments Inc.
     ("SAM Oracle"). Oracle Investment Management, Inc. (the "Investment
     Manager") serves as investment manager to and has investment discretion
     over the securities held by SAM Oracle and Oracle Offshore. Mr. Larry N.
     Feinberg ("Mr. Feinberg") serves as the sole shareholder and president of
     Oracle Investment Management, as the senior managing member of Oracle
     Associates, LLC, which is the general partner of Oracle Partners, L.P. and
     Oracle Institutional Partners, and as the trustee of The Feinberg Family
     Foundation. In accordance with Instruction 5(b)(v), the entire number of
     shares of Common Stock held by Oracle Offshore and SAM Oracle is reported
     herein. The Investment Manager disclaims any beneficial ownership of the
     securities held by Oracle Offshore and SAM Oracle for purposes of Section
     16 of the Securities Exchange Act of 1934, except to the extent of the
     Investment Manager's pecuniary interest. Any further transactions in
     securities of the issuer required to be reported by the Investment Manager
     will be reported in joint filings with Mr. Feinberg on Form 4.

(2)  The shares of Common Stock Purchase Warrants (the "Warrants") are
     exercisable in whole or in part, at any time or from time to time, at the
     option of the holder until November 10, 2013, at an exercise price of $3.50
     per share, subject to adjustment.

(3)  The Warrants to which this note relates are held directly by Oracle
     Offshore and SAM Oracle.

(4)  Each share of Series A Cumulative Convertible Preferred Stock, par value
     $0.01 per share (the "Preferred Stock") is convertible in whole or in part,
     at any time or from time to time, at the option of the holder into 3,333.33
     shares of Common Stock, at an exercise price of $3.00, subject to
     adjustment.

(5)  The shares of Preferred Stock to which this note relates are held directly
     by Oracle Offshore and SAM Oracle.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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