Dallas-based Opexa Therapeutics, Inc., a company developing novel T-cell treatment for multiple sclerosis (MS) that could eventually give rise to a secondary progressive MS therapy, recently announced the termination of its public shares offering from their common stock, which the company initially made available to investors on Monday, September 15, 2014. According to the company, the termination is a result of current adverse market conditions.
“The termination results from an assessment by Opexa’s management that current market conditions are not conducive for an offering on terms that would be in the best interests of Opexa’s stockholders,” as explained by the company in a statement on Tuesday. Therefore, no shares were sold pursuant to the offering.
The news comes amid an active period for Opexa. Last July, the Woodlands-based company joined the Russell Microcap Index, an annual reproduction of the 4,000 biggest U.S. stocks, that calculates the performance of the micro cap segment of the U.S. equity market by combining both the companies’ market cap and current index membership and is thought to be an impartial barometer of the microcap segment trading on national exchanges.
Opexa also remains engaged in the development of their lead therapeutic Tcelna, which is a personalized treatment for MS, tailored to each patient’s disease profile. Tcelna is manufactured using ImmPath, Opexa’s proprietary method for the production of a patient-specific T-cell immunotherapy. Opexa has recently completed the patient enrollment for the phase IIb study of Tcelna, “Abili-T,” a randomized, double-blind, placebo-controlled clinical trial being tested patients on SPMS patients who demonstrate evidence of disease progression with or without associated relapses.