ACCESS PHARMACEUTICALS INC
10-Q/A, 1996-05-17
PHARMACEUTICAL PREPARATIONS
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                            AMENDMENT WITH FINANCIAL DATA SCHEDULE
   
           1
- -------------------------------------------------------------------------------
                        SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, D.C. 20549
                              ---------------------
                                    FORM 10-Q/A
                                Amendment No. 1
    

/x/    Quarterly report pursuant to Section 13 or 15(d) of the
                   Securities Exchange Act of 1934

       For the quarterly period ended September 30, 1995, or 

/ /    Transition report pursuant to Section 13 or 15(d) of the
                   Securities Exchange Act of 1934
            for the transition period from        to
                                             
                              ---------------------
                         COMMISSION FILE NUMBER 000-9314
                             ----------------------

                          ACCESS PHARMACEUTICALS, INC.
            (Exact name of registrant as specified in its charter)

                                   DELAWARE
                       (State or other jurisdiction of 
                         incorporation or organization)

                        2600 N. Stemmons Frwy, Suite 210
                                  Dallas, TX  
                    (Address of principal executive offices)

                                   83-0221517
                      (IRS Employer Identification Number)

                                     75207
                                   (Zip Code)

                                 (214) 905-5100
              (Registrant's telephone number, including area code)


                           CHEMEX PHARMACEUTICALS, INC.
                         600 White Plains Rd., Suite 400
                               Tarrytown, NY  10591
            (Former name, former address and former fiscal year, if changed
                               since last report)

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months, and
(2) has been subject to such filing requirements for the past 90
days.
                          Yes  /x/              No  

       The number of shares outstanding of each of the issuer's
classes of common stock was 8,737,788 shares of common stock, par
value, $.04, outstanding as at November 3, 1995.
- -------------------------------------------------------------------
<PAGE>

       
                                     PART II
Item 6. Exhibits and Reports on Form 8-K.
        (a) Exhibits
       (27) Financial Data Schedule

<PAGE>

                                   SIGNATURES
                                   ----------

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.


Date        May 16, 1996                     By: /s/ Kerry P. Gray
            ------------                     ---------------------
                                                     Kerry P. Gray
                                                    (President and
                                                   Chief Executive
                                                   Officer)



<TABLE> <S> <C>

<ARTICLE>                5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION FROM THE
CONSOLIDATED BALANCE SHEET AND THE CONSOLIDATED STATEMENT OF
INCOME FILED AS PART OF THE QUARTERLY REPORT ON FROM 10-Q AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH QUARTERLY REPORT ON
FORM 10-Q.
</LEGEND>
<MULTIPLIER>                                          1,000
       
<S>                                                    <C>
<PERIOD-TYPE>                                          3-MOS              
<FISCAL-YEAR-END>                                      DEC-31-1995
<PERIOD-START>                                         JUL-01-1995
<PERIOD-END>                                           SEP-30-1995
<CASH>                                                       2,348
<SECURITIES>                                                     0
<RECEIVABLES>                                                   12
<ALLOWANCES>                                                     0
<INVENTORY>                                                      0
<CURRENT-ASSETS>                                             2,385
<PP&E>                                                          95
<DEPRECIATION>                                                  64
<TOTAL-ASSETS>                                               2,417
<CURRENT-LIABILITIES>                                          199
<BONDS>                                                          0
                                            0
                                                      0
<COMMON>                                                       350
<OTHER-SE>                                                   1,858
<TOTAL-LIABILITY-AND-EQUITY>                                 2,417
<SALES>                                                          0
<TOTAL-REVENUES>                                             2,543
<CGS>                                                            0
<TOTAL-COSTS>                                                  546
<OTHER-EXPENSES>                                                 0
<LOSS-PROVISION>                                                 0
<INTEREST-EXPENSE>                                               0
<INCOME-PRETAX>                                              1,997
<INCOME-TAX>                                                     0
<INCOME-CONTINUING>                                          1,997
<DISCONTINUED>                                                   0
<EXTRAORDINARY>                                                  0
<CHANGES>                                                        0
<NET-INCOME>                                                 1,997
<EPS-PRIMARY>                                                  .23
<EPS-DILUTED>                                                  .23
        

</TABLE>


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