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Opexa Therapeutics Reports Third 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 September 30, 2011 and provided an overview of recent corporate developments.

Recent highlights include:
  • Electing Gail J. Maderis, a seasoned pharmaceutical executive with a strong track record of leading biopharma companies through the clinical development stage, to Opexa’s Board of Directors, thereby strengthening the Company’s oversight to execute on its key strategic initiatives;
  • Appointing Mark Freedman, M.D., a leading worldwide expert in MS, to Opexa’s highly esteemed Scientific Advisory Board; and
  • Advancing the clinical plans for Tovaxin and defining a clinical trial protocol for Secondary Progressive MS.

“Much progress was made in further advancing our plans and discussions in the area of Secondary Progressive MS,” commented Neil K. Warma, President and Chief Executive Officer of Opexa. “We know that this population of MS patients is greatly underserved with only one drug currently approved by the FDA specifically for Secondary Progressive MS. Our focus has been on further clarifying Tovaxin’s potential in SPMS through discussions with key opinion leaders, patients and pharmaceutical companies. We have treated numerous patients with Secondary Progressive MS in previous clinical trials. The data appears encouraging and safety is superb, as it has been for all Tovaxin clinical trials, and the unmet need remains significant. Consequently, this disease area remains a high priority for Opexa.”

“To prepare for the next clinical trial with Tovaxin, we have remained on schedule with respect to the implementation of manufacturing and clinical priorities. Hiring of key staff has proceeded according to plan and we have appointed very strong individuals in the areas of Manufacturing, Quality Control and Quality Assurance. I am very pleased with this progress.”

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