New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 5, 2013
07:33 EDTMKGAY, OPXAOpexa Therapeutics, Merck Serono enter into license agreement for Tcelna
Opexa Therapeutics (OPXA) announced the execution of an agreement with Merck Serono, a division of Merck (MKGAY) for the development and commercialization of Tcelna, a potential first-in-class personalized T-cell therapy for patients suffering from multiple sclerosis. Tcelna is being developed by Opexa and currently is in a Phase IIb clinical trial in patients with Secondary Progressive MS. Potential payments to Opexa from the option and license agreement could total $225M based upon the successful development and commercialization of Tcelna for MS. Under the terms of the agreement, Opexa will receive an upfront payment of $5M for granting an option to Merck Serono for the exclusive license of the Tcelna program for the treatment of MS. The option may be exercised prior to or upon completion of Opexa’s ongoing Phase IIb clinical trial in patients with SPMS. Upon exercising this licensing option, Merck Serono would pay an upfront license fee of either $25M or $15M, and in return receive worldwide development and commercial rights to Tcelna in MS, excluding Japan. Additional financial considerations of the agreement include development and commercial milestone payments to Opexa of up to $195M and a tiered royalty rate from the high single digits to the mid-teens based on net sales payable to Opexa.
News For OPXA;MKGAY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
September 1, 2015
06:08 EDTOPXAOpexa Therapeutics enters into $5M repurchase agreement to fund NMO program
Opexa Therapeutics announced that the Company has entered into a stock purchase agreement with a private investor to fund the Company's NMO program, including its planned Phase I/II trial, for up to $5M, upon achievement of certain pre-specified milestones. The funding is to be provided in five tranches, with the first tranche having been delivered today. For the first tranche, the company issued shares priced at 55c per share for a purchase amount of $500,000. The total number of shares delivered in the first tranche was 909,090. The first tranche also included a warrant to acquire an equal number of shares with an initial exercise price of 50c until June 30, 2016, and an exercise price of $1.50 through its expiration on April 9, 2018. Subsequent tranches totaling a possible $4.5M are based on the completion of the ongoing preclinical activities and subsequent submission of an IND for OPX-212 in NMO no later than February 15, 2016; the review and acceptance of the IND by the FDA no later than May 15, 2016; enrollment of the first patient in a planned Phase I/II study no later than August 30, 2016; and enrollment of 30% of the patients in the same Phase I/II study no later than December 31, 2016. Each subsequent tranche will include the sale of common stock only with such shares priced at 90% of the 10-day volume weighted average price of Opexa's common stock immediately preceding the occurrence of the related milestone. The Company has filed a Current Report on Form 8-K with the U.S. SEC. No bank was used in this transaction.
August 26, 2015
08:36 EDTOPXACryoport to support Opexa Therapeutics' T-cell immunotherapy programs
Cryoport's (CYRX) validated cryogenic logistics solution will support future clinical trials for Opexa Therapeutics' (OPXA) lead personalized T-cell immunotherapy programs for Multiple Sclerosis and Neuromyelitis Optica. Cryoport's global distribution network will provide the necessary cryogenic logistics support between Opexa and its clinical sites.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use