Opexa Therapeutics, Inc. (NASDAQ:OPXA), a biotechnology company developing Tcelna®, a patient-specific T-cell immunotherapy for the treatment of multiple sclerosis (MS), today announced the pricing of an underwritten public offering of 4.12 million shares of its common stock at a price to the public of $1.70 per share. The gross proceeds to Opexa from this offering are expected to be approximately $7 million, before deducting underwriting discounts and commissions and other estimated offering expenses. All of the shares in the offering are to be sold by Opexa. Opexa has also granted the underwriters a 45-day option to purchase up to an additional 618,000 shares of common stock to cover over-allotments, if any. The offering is expected to close on or about December 23, 2013, subject to customary closing conditions.
Opexa intends to use the net proceeds from the offering to continue funding the ongoing Abili-T clinical study of Tcelna in patients with Secondary Progressive MS and for general corporate purposes (including working capital, research and development, business development and operational purposes).
Aegis Capital Corp. is acting as sole book-running manager in this offering.
The offering was made pursuant to a shelf registration statement on Form S-3 that was filed by Opexa with the Securities and Exchange Commission (SEC) and declared effective by the SEC on December 5, 2012. A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s web site at http://www.sec.gov . Copies of the preliminary prospectus supplement relating to these securities may also be obtained from the offices of Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18 th Floor, New York, NY, 10019, via telephone at (212) 813-1010, or via email at email@example.com .This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Opexa Opexa’s mission is to lead the field of Precision Immunotherapy™ by aligning the interests of patients, employees and shareholders. The Company’s leading therapy candidate, Tcelna®, is a personalized T-cell immunotherapy that is in a Phase IIb clinical development program (the Abili-T trial) for the treatment of Secondary Progressive MS. Tcelna is derived from T-cells isolated from the patient’s 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.