Opexa Therapeutics (OPXA), a Woodlands-based biotech company specializing in the development of an innovative immunotherapy using T-cells to treat multiple sclerosis, as of April 30, 2013 has enrolled 48 patients with Secondary Progressive Multiple Sclerosis in a Phase IIb clinical test of the imilecleucel-T, autologous T-Cell Immunotherapy known as Tcelna™. According to a recent announcement from Opexa Therapeutics, the company hopes to eventually enroll 180 patients in the clinical study, including people from 30 different locations across Canada and the United States. In the same announcement, Opexa also released their financial numbers for the first quarter of this year. Opexa Therapeutics’s Quarterly Report on Form 10-Q filed with the SEC revealed that the company:
…reported revenue of $220,100 for the three months ended March 31, 2013. The revenue is related to the recognized portion of the $5 million upfront payment received from Merck Serono in conjunction with the Option and License Agreement. No revenues were recognized during the three months ended March 31, 2012. Opexa reported a net loss for the three months ended March 31, 2013 of $4,177,482, or $0.58 per share, compared with a net loss of $2,373,999, or $0.41 per share for the three months ended March 31, 2012…Raised $3.25 million of gross proceeds through a registered offering of common stock and warrants in February 2013 following the execution of the Option and License Agreement with Merck Serono.
Additionally, Opexa Therapeutics has announced the commencement of a blind immune monitoring program that will work to “gather comprehensive biomarker data” during the Alibi-T study, as well as a licensing agreement with Merck Serono that was signed in February 2013. “Opexa executed on its key strategic initiative through the signing of an Option and License Agreement with Merck Serono,” Opexa’s President and CEO Neil K. Warma explains. “Given Merck Serono’s long-term strategic commitment to, and existing franchise position in, the field of multiple sclerosis, I am very pleased to enter into this option and license agreement and believe that the continued development of Tcelna(TM) in Secondary Progressive Multiple Sclerosis (SPMS) will be enhanced.” Opexa Therapeutics’ recent announcement also included reports of corporate appointments including Karthik Radhakrishnan as Chief Financial Officer and Donna R. Rill, who was previously Opexa’s Senior VP of Operations and Quality Systems, to the post of Chief Development Officer.
For additional information about Opexa Therapeutics’ first quarter 2013 results and corporate announcements you can read more of their announcement here.