Opexa Therapeutics to price 9.3 million shares in public offering

Aegis helps in funding clinical development of Tcelna, Phase IIb study

By Toni Weeks

San Luis Obispo, Calif., July 22 - Opexa Therapeutics, Inc. will price a public offering of 9.3 million of its common shares with a 30-day greenshoe option for an additional 1,395,000 shares, according to an amended form S-1 filed Monday with the Securities and Exchange Commission.

Aegis Capital Corp. is assisting in the stock sale, which was announced June 17.

The company estimated in the SEC filing total proceeds of $17.25 million from the offering. Opexa's common stock closed at $1.61 on July 19.

Proceeds will be used for clinical development of Tcelna and the Phase IIb study in patients with secondary progressive multiple sclerosis, operations and general corporate purposes, including debt repayment.

The Woodlands, Texas-based Opexa develops and commercializes cell therapies to treat autoimmune diseases, such as multiple sclerosis, rheumatoid arthritis and diabetes.

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