Opexa News

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Opexa News

Postby NHE » Tue Oct 13, 2009 3:03 am

This is somewhat old news, but I don't think it's been posted previously.

Opexa Triggers Milestone Payment Under Recently Announced Stem Cell Agreement

THE WOODLANDS, Texas--(BUSINESS WIRE)--Opexa Therapeutics, Inc. (NASDAQ:OPXA), a company developing Tovaxin®, a personalized T-cell immunotherapy for multiple sclerosis (MS), today announced that it has achieved its first technology transfer milestone in connection with the company’s recently announced exclusive stem cell agreement with Novartis, one of the world’s largest healthcare companies. The milestone was completed on schedule and triggers a payment of $500,000 to Opexa.

Opexa recently announced that it entered into an exclusive agreement with Novartis for the further development of Opexa’s novel stem cell technology. Under the terms of the agreement, Opexa received an upfront cash payment of $3 million and was entitled to an additional $1 million as a technology transfer fee to be paid over the course of a six month period. The $500,000 milestone is part of this $1 million technology transfer fee. Total payments to Opexa, including the upfront payment, the technology transfer fee and development and commercial milestone payments could exceed $50 million not including royalties. Opexa is also eligible to receive royalty payments from the sale of any products resulting from the use of the technology and retains an option on certain manufacturing rights.

In another positive development, Opexa recently received approximately $850,000 from the exercise of outstanding warrants. The five-year warrants were exercised at a $1.78 strike price. This, together with the milestone payment, has added over $1.3 million to Opexa’s cash resources, providing the company with further flexibility as it pursues the preparation and planning for Tovaxin’s ongoing clinical development program, as well as its ongoing partnership discussions.


NHE
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::: tapping foot impatiently:::

Postby JanethePain » Tue Oct 13, 2009 7:40 am

May 1961: "Light this candle, boys!" Alan Shepard snapped after waiting HOURS for Mission Control to fiddle around trying to decide whether to go ahead or abort the mission.

I understand how Shepard felt.

And I also think it's almost time for a "kick up the backside" reminder to Opexa to get their * ducks in a row and get on with it, already!
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Today's blurb

Postby JanethePain » Wed Nov 04, 2009 9:02 am

I guess this looks good: http://www.businesswire.com/portal/site/opexa/?ndmViewId=news_view&newsId=20091104005110&newsLang=en

The stock took a nice healthy jump this morning, too.

Should we start bugging the "usual suspects" to see if they can give us a ballpark date, maybe? :?
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December 10 update

Postby JanethePain » Thu Dec 10, 2009 10:12 am

Looks like Opexa has gotten itself a cool five million more dollars:

http://www.businesswire.com/portal/site/opexa/?ndmViewId=news_view&newsId=20091210005512&newsLang=en
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Postby TWG » Fri Dec 11, 2009 6:00 pm

IF they can sell the stocks....
Diagnosed with MS in Feb. 14 2000! Was a Tovaxin guinea pig.
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Jumping back in...

Postby JanethePain » Fri Jan 29, 2010 9:33 am

That stock is going up like a rocket: http://www.businesswire.com/portal/site ... NIES_CHART

It's high time they get back in touch with us so we can all make plans!
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Postby TWG » Sun Jan 31, 2010 8:43 am

Diagnosed with MS in Feb. 14 2000! Was a Tovaxin guinea pig.
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