FY09 Net Loss Narrows, Opexa Therapeutics (NASDAQ: OPXA)
March 9th, 2010
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Opexa Therapeutics reported (3/5/10) a net loss of $1.43 M or $0.11 per diluted share for FY09 compared to $11.85 M or $1.12 per diluted share in FY08. FY09 highlights:
- The pivotal point in the year was the completion of the stem cell transaction with Novartis (NVS) Pharmaceuticals for an upfront payment of $3 M and potential technology transfer milestone payments totaling another $1 M (with total potential payments from the deal that could exceed $50 M),
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Geron’s (GERN) collaboration with Corning launches Synthemax™ surface, a novel synthetic surface supporting the growth and differentiation of stem cells and growing hESCs.
PSTI (3/2/10) received approval from an independent Data Safety Monitoring Board (DSMB) to advance its placenta-derived cell therapy product, PLX-PAD.
The FDA has granted Orphan Drug designation for Advanced Cell Technology‘s (ACTC.OB) MA09-hRPE cells for use in the treatment of Stargardt’s Macular Dystrophy (SMD). As a result, ACTC.OB is eligible to receive a number of benefits, including tax credits, access to grant funding for clinical trials, accelerated FDA approval and allowance for marketing exclusivity after drug approval for a period of as long as 7 years.
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