THE WOODLANDS, Texas--(BUSINESS WIRE)--Opexa Therapeutics, Inc. (NASDAQ: OPXA), a company developing a novel T-cell therapy for multiple sclerosis (MS), today entered into definitive agreements with institutional investors in a direct placement with gross proceeds of $5.1 million. The offering is made pursuant to the Form S-3 shelf registration statement that was filed by Opexa with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on November 23, 2009. The offering is expected to close on or about December 14, 2009, subject to the satisfaction of customary closing conditions. Opexa intends to use the net proceeds from the offering for general corporate purposes, including activities related to further clinical development of Tovaxin® and for other working capital and operational purposes.
