Q1/10 results, Opexa Therapeutics (OPXA)
Opexa reported a Q1/10 loss of $1.422 M, or ($0.09) per share. OPXA is developing Tovaxin®, a novel T-cell therapy for multiple sclerosis (MS). OPXA reported no revenues in Q1/10. R&D expenses were $784 K. G&A expenses were $484 K. Cash and cash equivalents and investments in marketable securities were $7.1 M as of 3/31/10 with a monthly burn rate approximating $350 K; sufficient capital beyond 2010.
Recent highlights include:
- Strengthened Tovaxin patent estate through issuance of key patents,
- Presenting Tovaxin data at the 62nd annual American Academy of Neurology (AAN) conference, indicating a possible link between Tovaxin’s potential mechanism of action and relevant clinical outcomes in MS patients based on new immunological data analysis,
- Strengthened the management team through the hiring of a VP of Scientific Development.