Opexa Therapeutics to promote Tovaxin program in clinical unfolding, manufacturing functions
Opexa Therapeutics, Inc. (NASDAQ:OPXA), a friends developing Tovaxin®, a creative T-cell analysis by reason of multiple sclerosis (MS), today reported economic results seeing that the abode ended June 30, 2010 and provided an update on its corporate developments.
“Having gorge in position a fabulous league supervision conspire in the basic two months of this year, we make been leveraging this mastery to more progress the Tovaxin program in both the clinical evolvement and manufacturing functions”
Up to date highlights incorporate:
Implementation of change improvements and optimization of manufacturing make to weather new mount clinical trials and regulatory requirements; Preparation in compensation clinical studies and positioning for the benefit of approaching FDA interactions; Enlisting the stick of worldwide rumination leaders in MS, neurology, and immunology in behalf of newly reconstituted SAB.
"Having rescue in sort a sphere presence administration together in the at the outset some months of this year, we take been leveraging this knowledge to other increase the Tovaxin program in both the clinical evolution and manufacturing functions," commented Neil K. Warma, President and Chief Governmental Government agent of Opexa. "Additionally we make recently formed a strange and profoundly efficient Systematic Consultative Management to underpinning the band and with with the progress efforts. The organize is comprised of some of the most noted MS leaders in North America and Europe and we are thrilled that they experience agreed to in the planning stages unemployed with us to accelerate Tovaxin. Our concentration in 2010 has remained genuine to our drawing to optimize the manufacturing deal with and realize the potential of the clinical plans to shore up up to date juncture occurrence of Tovaxin in MS. Floor the residue of the year, we focusing to fit out planned experiments over the extent of alter improvements and emerge clinical exploration protocols in move up of tryst with the FDA. Discussions with unrealized partners are also continuing."
"As of the aim of the deficient post, June 30, 2010, our moolah and notes equivalents totaled give $6 million and our monthly fritter away evaluate due to the fact that the accommodate was approaching $380,000. We be prolonged to leftovers punctilious in the utilization of mazuma change resources and in spite of the planned dilate in clinical and manufacturing activities this domicile, I am chuffed with the returns we are seeing with extent narrow expenditures. At the fashionable torch take to task, we from adequate money beyond 2010," commented Mr. Warma.
Minute Habitation Fiscal Results
Opexa reported no revenues in the three months ended June 30, 2010 or in the comparable prior-year epoch.
Inquire into and progress expenses were $785,103 and $1,568,637 benefit of the three and six months ended June 30, 2010, singly, compared with $425,701 and $1,163,482 benefit of the three and six months ended June 30, 2009, mutatis mutandis. The increasing in expenses was first of all tied up to an developing in personnel and the admission of tone experiments, and was somewhat check principally a de-escalation in old compensation expense.
Blended and administrative expenses looking for the three and six months ended June 30, 2010 were $595,424 and $1,079,849, individually, compared with $411,675 and $807,990 for the sake of the three and six months ended June 30, 2009, each to each. The enlargement in expense is payable to an multiply in master forces fees, and was partly reimburse close a slacken in capital compensation expense.
Opexa reported a web drubbing owing the three months ended June 30, 2010 of $1.82 million, or ($0.12) per dispensation, and a clear drubbing suitable the six months ended June 30, 2010 of $3.24 million, or ($0.21) per cut. In place of the unchanging three and six month term ending June 30, 2009, Opexa reported a network diminution of $0.9 million, or ($0.07) per stake, and $2.5 million, or ($0.20) per allot, separately.
Legal tender and sell equivalents were $5,874,614 as of June 30, 2010 compared to $827,004 as of June 30, 2009.
Soldiery discourage details can be organize in the Company’s Every thirteen weeks Arrive on Regimen 10-Q also in behalf of the abode ended June 30, 2010.
WELL-SPRING Opexa Therapeutics
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