"The optimization of the manufacturing process to a commercial state has been advancing very well and I am equally as pleased with the progress we have made on the clinical and regulatory path. Based on strong input from our Scientific Advisory Board, we are now finalizing the clinical trial protocols that will be presented to the FDA. We continue to have active dialogue with potential partners regarding the further clinical development of Tovaxin," added Mr. Warma."As of the end of the third quarter, September 30, 2010, our cash and cash equivalents totaled approximately $4.7 million and our monthly burn rate for the year through the third quarter was approximately $380,000. We are maintaining tight control over our cash spend while still being able to actively advance our varied operational priorities. Our team remains lean but highly productive and focused on timely execution. At the current burn rate, we believe that while we have sufficient capital to support our operations, at current levels, through 2011, we will need to raise additional capital to support our operations," commented Mr. Warma.
Opexa Therapeutics Reports Third Quarter 2010 Financial Results
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