Dallas, Texas 09/16/2013 (Financialstrend) – Movement on the browsers
In the past four weeks the share price ofOpexa Therapeutics Inc (NASDAQ:OPXA) has risen over 30% in the run up to the public offering of its common stock. It is trading at $1.84 per share on the NASDAQ stock exchange as of close of business on September 13. At current valuations, it is trading 65% lower than its 52 week high price and is trading 68% above its 52 week low price. Opexa Therapeutics is a biopharmaceutical company. The Company develops personalized cellular therapies for treating illnesses like multiple sclerosis (MS). Opexa therapies are built on its T-cell technology.
Public offering expected to bring in $19.3 million
On September 11, Opexa Therapeutics Inc (NASDAQ:OPXA) reported to the SEC that it had successfully closed a partial exercise of over allotment of 250,000 shares of common stock valued at $1.5 per share. This exercise was a continuation of its recently announced public offering which totally would offer total of 12,900,000 shares of common stock. The company expects to raise $19.3 million through this public offering.
Opexa hawking its lead product Tcelna to potential investors
Opexa Therapeutics presented at the Rodman & Renshaw , 15th Annual Global Investment Conference, held on September 10, 2013 to drum up demand for its public offering. It claims to have 50 patents issued on T Cell platform and talks of the immense potential of its lead product Tcelna being tested to cure multiple sclerosis. It also highlighted the impending fast tracking by FDA of its phase2 clinical trials of its secondary progressive MS. Company estimates the market potential for this drug in US to range around $7 billion. The company also has cash and cash equivalents of $5 million.