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

While the Company intends to actively monitor the closing bid price of its common stock and consider available alternatives, including implementing a reverse stock split, if necessary, there can be no assurance that the Company will be able to regain compliance. In the event the Company is unable to regain compliance in a timely manner or if it does not meet the other listing standards, NASDAQ staff could provide notice that the Company’s common stock will become subject to delisting, and in such event, the Company may request a hearing before the NASDAQ Listing Qualifications Panel. Such request would stay any delisting determination by the staff and the Company’s securities would remain listed on NASDAQ pending a formal determination by the Panel.

Second Quarter Financial Results

Opexa reported no commercial revenues in the three and six months ended June 30, 2012 or in the comparable prior-year periods.

Research and development expenses were $1,558,208 and $3,048,305 for the three and six months ended June 30, 2012, respectively, compared with $854,208 and $1,539,369 for the three and six months ended June 30, 2011, respectively. The increase for the three and six months ended June 30, 2012 compared to the three and six months ended June 30, 2011 was primarily due to an increase in the procurement and use of laboratory reagents and supplies and increases in employee personnel costs, professional service fees, facilities costs and non-cash stock compensation expense.

General and administrative expenses for the three and six months ended June 30, 2012 were $529,566 and $1,345,762, respectively, compared with $560,834 and $1,152,892 for the three and six months ended June 30, 2011, respectively. The decrease for the three months ended June 30, 2012 compared to the three months ended June 30, 2011 was primarily due to decreases in business development expenses and non-cash stock compensation expense, and was partially offset by increases in compensation expense to employees, facilities costs and investor outreach expenses. The increase for the six months ended June 30, 2012 compared to the six months ended June 30, 2011 was primarily due to increases in employee personnel costs, facilities costs and investor outreach expenses, and was partially offset by decreases in business development and non-cash stock compensation expense.

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