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Opexa Therapeutics Reports Second Quarter 2011 Financial Results And Provides Corporate Update

Opexa Therapeutics, Inc. (NASDAQ: OPXA), a company developing Tovaxin®, a novel T-cell therapy for multiple sclerosis (MS), today reported financial results for the quarter ended June 30, 2011 and provided an overview of recent corporate developments.

Recent highlights include:

  • Executed strategic agreements with the American Red Cross and the Blood Group Alliance, Inc. to provide blood collection services to support future clinical development of Tovaxin. In combination, the two groups provide Opexa with access to over 90% of the blood procurement centers in the United States;
  • Met with Health Canada’s Biologics and Genetics Therapies Directorate as part of the process to secure approval for Opexa to conduct a portion of future clinical development in Canada;
  • Initiated the design and development of a proprietary Web-based system to manage patient and product flow throughout future clinical studies;
  • Presented Tovaxin data at the 2011 American Academy of Neurology Meeting; and
  • Continued work on operational and clinical plans for a pivotal trial in Relapsing Remitting MS (RRMS) as well as evaluating clinical development opportunities in Secondary Progressive MS (SPMS).

“We are pleased with our first half accomplishments and as we move into the second half of the year, we will continue to execute on a number of critical steps necessary for the execution of our next clinical study,” commented Neil K. Warma, President and Chief Executive Officer of Opexa. “We are working to ensure that the various steps in the manufacturing process for Tovaxin are being effectively implemented prior to the next trial, recognizing that such process has been substantially modified and optimized to support late stage clinical development and potential commercialization. We are also working to ensure that clinical operations will be ready, including securing key clinical sites and obtaining advisory input on trial design.”

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