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Opexa Therapeutics Reports Second Quarter 2013 Financial Results And Provides Corporate Update

Stocks in this article: OPXA

Opexa Therapeutics, Inc. (NASDAQ: OPXA), a biotechnology company developing Tcelna ®, a novel T-cell therapy for multiple sclerosis (MS), today reported financial results for the quarter ended June 30, 2013 and provided an overview of recent corporate developments.

Recent highlights include:

  • Clinical
    • Enrolled 68 patients as of August 8, 2013 in the Phase IIb ‘Abili-T’ clinical study of Tcelna (imilecleucel-T) in patients with Secondary Progressive Multiple Sclerosis (SPMS). The Abili-T clinical trial is a randomized, double-blind, placebo-controlled study and will enroll 180 patients through approximately 30 leading clinical sites in the U.S. and Canada;
    • Furthered the accumulation of comprehensive subject data to support Opexa’s Immune Monitoring Program initiative in conjunction with the Abili-T trial, including the potential identification of biomarkers for SPMS and further understanding of the immunopathology of SPMS; and
    • Presented baseline data from Opexa’s Immune Monitoring Program in a poster session at the 2013 Annual Meeting of the Consortium of Multiple Sclerosis Centers (CMSC) and the Fifth Cooperative Meeting with the Americas Committee for Treatment and Research in Multiple Sclerosis (ACTRIMS).
  • Financial
    • Closed an underwritten public offering of 12 million shares of common stock for gross proceeds of $18 million in August 2013, or net proceeds of approximately $16.2 million after underwriting discounts and commissions and estimated offering expenses.
  • Operational
    • Strengthened our team to advance Precision Immunotherapy™ in SPMS by hiring several talented individuals to further our development initiatives as well as enhance the manufacture and delivery of Tcelna to our patients enrolled in the Abili-T study.

“We are coming off a productive quarter with demonstrated progress in the Abili-T clinical trial and the announcement of our recent public offering of $18 million in shares of our common stock,” commented Neil K. Warma, Opexa’s President and Chief Executive Officer. “We are pleased with the positive response from the investment community and the proceeds raised from this offering will allow us to focus on patient enrollment and trial execution. Top-line data from the trial is expected in the first half of 2016.”

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