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Opexa Therapeutics Reports First Quarter 2014 Financial Results And Provides Corporate Update

Opexa Therapeutics, Inc. (NASDAQ: OPXA), a biotechnology company developing Tcelna ® (imilecleucel-T), a novel T-cell immunotherapy for the treatment of Multiple Sclerosis (MS), today reported financial results for the first quarter ended March 31, 2014 and provided an overview of the Company’s recent corporate developments.

Recent highlights include:

  • Clinical
    • As of May 13, 2014, Opexa reached the targeted enrollment of 180 patients in the Phase IIb “Abili-T” clinical study of Tcelna (imilecleucel-T) in patients with Secondary Progressive Multiple Sclerosis. The Abili-T clinical trial is a randomized, double-blind, placebo-controlled study at approximately 35 leading clinical sites in the U.S. and Canada.
    • The Company will also allow patients who are currently in the screening process to enroll in the Abili-T clinical study should they meet the trial’s entry criteria. The Company expects to report the top-line results of the Abili-T clinical study in mid-2016.
  • Operations
    • In March, Opexa appointed two highly experienced individuals to join the Company’s Board of Directors - Hans-Peter Hartung, M.D., Ph.D., FRCP, a world leading clinician and expert in the treatment of Multiple Sclerosis and other neurological diseases, and Timothy Barabe, a proven CFO with global operational and financial expertise.
  • Financial
    • Reported cash and cash equivalents of $19,659,525 as of March 31, 2014.
    • Opexa believes it has sufficient liquidity to support its current clinical activities for the Abili-T trial and general operations to sustain the Company and support such trial into the fourth quarter of 2015.

“Reaching our clinical trial enrollment target of 180 patients in the Phase IIb Abili-T trial in Secondary Progressive Multiple Sclerosis represents an important milestone in the development of our personalized immunotherapy for this unmet medical need,” said Neil K. Warma, Opexa’s President and Chief Executive Officer. “MS patients are in dire need of a product to treat the progressive form of the disease. With so few treatment options for Secondary Progressive MS patients, we remain committed in our efforts to develop Tcelna for this patient group.”

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