This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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

“As of June 30, 2012, our cash and cash equivalents totaled approximately $1.6 million. Our monthly burn rate for the first half of 2012 was approximately $925,000, inclusive of increased cash expenditures to support preparations for the initiation of the planned Phase IIb clinical study in North America,” continued Mr. Warma. “As previously announced, on July 25, 2012, we closed a financing of $4.1 million in gross proceeds through a private offering. At the current burn rate, and including the additional net proceeds from this financing, we should have sufficient capital through November 2012 to initiate the Phase IIb clinical study and enroll a portion of the overall patients. Moving forward, we are continuing to explore potential opportunities and alternatives to obtain the additional resources that will be necessary to complete the Phase IIb study and to support ongoing operations during the pendency of such study.”

Additionally, Opexa today announced that on August 9, 2012, the Company received notice that the listing qualifications department staff of the NASDAQ Stock Market has granted the Company an extension of an additional 180 days to regain compliance with the listing standard for the minimum bid price rule contained in Listing Rule 5550(a)(2) which will allow the continued listing of the Company’s securities on The NASDAQ Capital Market. As previously announced, in February 2012, Opexa received a staff deficiency letter from NASDAQ notifying the Company that for the preceding 30 consecutive business days, the bid price of the Company’s common stock had closed below the minimum closing bid price of $1.00 per share. To regain compliance, the closing bid price of the Company’s common stock must be at least $1.00 per share for a minimum of ten consecutive business days (or such longer period of time as the NASDAQ staff may require) before February 4, 2013.

3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs