Opexa Therapeutics Reports Second Quarter 2012 Financial Results And Provides Corporate Update

“We have been diligently working to identify and secure leading clinical trial sites across the U.S. and Canada that we believe provide a strong base of SPMS patients for recruitment and enrollment in the trial,” continued Mr. Warma. “Contract negotiations with these sites are going well and we anticipate that the U.S.-based sites could be in a position to begin recruiting patients this quarter. The Canadian regulatory approvals should be finalized later in the quarter allowing us to expand enrollment in the clinical study at that time.”

“Today we also announced that David Jorden, one of Opexa’s board members, will be appointed to the position of Acting CFO to assist with the execution of the critical financing activities envisioned over the coming months and beyond. David has been an extremely active and supportive board member over the past four years and I look forward to working even more closely with him in this new capacity,” commented Mr. Warma. “With the recently announced closing of a convertible secured note financing, the Opexa team is focused on 1) the timely initiation and execution of the planned Phase IIb clinical trial, 2) continuing to advance ongoing discussions with potential strategic partners, and 3) appropriately resourcing the Company from a capital standpoint to be able to fully support ongoing clinical development, either through additional capital raises, a strategic partnership or both. The entire Opexa team is dedicated to successfully advancing Tcelna back into the clinic as a truly novel therapy for the long-term benefit of MS patients.”

“I am extremely pleased to join Neil and the other outstanding members of the Opexa senior management team at this important and exciting time in Opexa’s corporate development,” said Mr. Jorden. “Success across the indicated corporate objectives offers the opportunity to build substantial shareholder value in this Company and I am looking forward to further deepening my involvement with Opexa and executing on these priorities.”

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