For more information visit the Opexa Therapeutics website at www.opexatherapeutics.com.
Cautionary Statement Relating to Forward-Looking Information for the Purpose of "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “expects,” “believes,” “anticipates,” “estimates,” “may,” “could,” “intends,” “exploring,” “evaluating” and similar expressions are intended to identify forward-looking statements. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding the development of the Company’s product candidate, Tovaxin, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with: our capital position, the ability of the Company to enter into and benefit from a partnering arrangement for the Company's product candidate, Tovaxin, on reasonably satisfactory terms (if at all), our dependence (if partnered) on the resources and abilities of any partner for the further development of Tovaxin, our ability to compete with larger, better financed pharmaceutical and biotechnology companies, new approaches to the treatment of our targeted diseases, our expectation of incurring continued losses, our uncertainty of developing a marketable product, our ability to raise additional capital to continue our treatment development programs and to undertake and complete any further clinical studies for Tovaxin, the success of our clinical trials, the efficacy of Tovaxin for any particular indication, such as for RRMS or SPMS, our ability to develop and commercialize products, our ability to obtain required regulatory approvals, our compliance with all Food and Drug Administration regulations, our ability to obtain, maintain and protect intellectual property rights (including for Tovaxin), the risk of litigation regarding our intellectual property rights, the success of third party development and commercialization efforts with respect to products covered by intellectual property rights transferred by the Company, our limited manufacturing capabilities, our dependence on third-party manufacturers, our ability to hire and retain skilled personnel, our volatile stock price, and other risks detailed in our filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date made. We assume no obligation or undertaking to update any forward-looking statements to reflect any changes in expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. You should, however, review additional disclosures we make in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2010.
|OPEXA THERAPEUTICS, INC. (a development stage company)|
|Statements of Expenses Data:|
|Three Months Ended September 30,||Nine Months Ended September 30,|
|Research and development||$||654,772||$||625,282||$||2,194,141||2,193,919|
|General and administrative||584,794||626,697||1,737,686||1,706,546|
|Depreciation and amortization||56,888||37,647||157,254||136,022|
|Loss on disposal of assets||413||-||413||-|
|Net income (loss) per share|
|Basic and Diluted||$||(0.06||)||$||(0.07||)||$||(0.18||)||$||(0.27||)|
|Weighted average shares outstanding|
|Basic and Diluted||23,048,488||18,421,600||22,358,611||16,601,503|
|Selected Balance Sheet Data:|
|September 30, 2011||December 31, 2010|
|Cash and cash equivalents||$||8,639,856||$||3,812,535|
|Other current assets||105,645||85,525|
|Fixed assets, net||953,219||815,958|
|Total current liabilities||730,450||745,305|
|Total long term liabilities||-||-|
|Total stockholders' equity||8,968,270||3,968,713|
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