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

Depreciation and amortization expense for the three and six months ended June 30, 2012 was $76,496 and $143,851, respectively, compared with $70,732 and $100,366 for the three and six months ended June 30, 2011, respectively. The increase in expense is primarily due to increases in depreciation for facility build-out costs, and increases in depreciation for laboratory, manufacturing and information technology equipment acquired during 2011 and 2012.

Interest expense for the three and six months ended June 30, 2012 was $486 and $973, respectively, compared with $870 and $2,005 for the three and six months ended June 30, 2011, respectively.

Opexa reported a net loss for the three months ended June 30, 2012 of $2.16 million, or ($0.09) per share, and a net loss for the six months ended June 30, 2012 of $4.54 million, or ($0.20) per share. For the same three month and six month periods ending June 30, 2011, Opexa reported a net loss of $1.49 million, or ($0.06) per share, and $2.79 million, or ($0.13) per share, respectively.

Cash and cash equivalents were $1,570,148 as of June 30, 2012 compared to $9,876,675 as of June 30, 2011.

Further details can be found in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2012.

About Opexa

Opexa Therapeutics, Inc. is dedicated to the development of patient-specific cellular therapies for the treatment of autoimmune diseases such as MS. The Company’s leading therapy, Tcelna™, is a personalized cellular immunotherapy treatment that is in late stage clinical development for MS. Tcelna is derived from T-cells isolated from peripheral blood, expanded ex vivo, and reintroduced into the patients via subcutaneous injections. This process triggers a potent immune response against specific subsets of autoreactive T-cells known to attack myelin and, thereby, reduces the risk of relapse over time.

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,” “hope,” “anticipates,” “estimates,” “may,” “could,” “intends,” “exploring,” “evaluating,” “progressing” 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, Tcelna, 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 rights and preferences provided to the Series A Convertible Preferred Stock and investors in the convertible secured notes (including a secured interest in all of our assets), the ability of the Company to enter into and benefit from a partnering arrangement for the Company's product candidate, Tcelna, on reasonably satisfactory terms (if at all), our dependence (if partnered) on the resources and abilities of any partner for the further development of Tcelna, 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 Tcelna, the success of our clinical trials, the efficacy of Tcelna for any particular indication, such as for relapsing remitting MS or secondary progressive MS, 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 Tcelna), 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 that the Company may license or transfer, 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, 2011.
                   

OPEXA THERAPEUTICS, INC.

(a development stage company)
 

Statements of Expenses Data (unaudited):

 
Three Months Ended Six Months Ended
June 30, June 30,
2012   2011   2012   2011  
Research and development $ 1,558,208 $ 854,208 $ 3,048,305 $ 1,539,369
General and administrative 529,566 560,834 1,345,762 1,152,892
Depreciation and amortization   76,496     70,732     143,851     100,366  
Operating loss (2,164,270 ) (1,485,774 ) (4,537,918 ) (2,792,627 )
 
Interest income 59 260 195 471
Interest expense   (486 )   (870 )   (973 )   (2,005 )
Net loss $ (2,164,697 ) $ (1,486,384 ) $ (4,538,696 ) $ (2,794,161 )
 
Basic and diluted loss per share $ (0.09 ) $ (0.06 ) $ (0.20 ) $ (0.13 )
 
Weighted average shares outstanding 23,048,488 23,048,488 23,048,488 22,007,955
 
           

OPEXA THERAPEUTICS, INC.

(a development stage company)
 

Selected Balance Sheet Data (unaudited):
June 30,

Dec. 31,
2012 2011
Cash and cash equivalents $ 1,570,148 $

7,109,215
Other current assets 953,440

124,773
Fixed assets, net 1,385,919

1,029,236
Other long term assets 27,076

-
Total assets 3,936,583

8,263,224
Total current liabilities 908,466

1,067,860
Total long term liabilities - -
Total stockholders' equity 3,028,117

7,195,364
 

5 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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,598.41 -56.36 -0.34%
S&P 500 1,984.01 -3.65 -0.18%
NASDAQ 4,802.4660 -10.2420 -0.21%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs