THE WOODLANDS, Texas--(BUSINESS WIRE)--
Opexa Therapeutics, Inc. (NASDAQ:OPXA), a company developing
personalized immunotherapies for autoimmune disorders, including
multiple sclerosis (MS) and neuromyelitis optica (NMO), provides a
reminder to shareholders that its previously announced rights offering
will remain open until 5:00 PM Eastern Time on Wednesday, April 8, 2022,
unless extended. Rights holders will need to exercise their subscription
rights prior to that date and time.
If exercising subscription rights through a broker, dealer, bank or
other nominee, rights holders should promptly contact their nominee and
submit subscription documents and payment for the units subscribed for
in accordance with the instructions and within the time period provided
by such nominee. The broker, dealer, bank or other nominee may
establish a deadline before April 8th by which instructions to
exercise subscription rights, along with the required subscription
payment, must be received.
All record holders of rights certificates that wish to participate in
the rights offering must deliver a properly completed and signed rights
certificate, together with payment of the subscription price for both
basic subscription rights and any oversubscription privilege election,
to the Subscription Agent, to be received before 5:00 p.m., Eastern
Time, on April 8, 2022. The Subscription Agent is:
Continental Stock Transfer & Trust Company
17 Battery Place—8th
Floor
New York, NY 10004
Attn: Corporate Actions Department
Telephone:
(917) 262-2378
The non-transferable subscription rights entitle holders of Opexa common
stock and holders of outstanding Series L warrants as of March 13, 2022
(the record date) to purchase units, composed of one share of common
stock and a warrant to purchase common stock, at the subscription price
of $0.55 per unit. Holders who fully exercise their basic subscription
rights may oversubscribe (on a pro rata basis and subject to ownership
limitations) for any remaining unsubscribed units. The three-year
warrant will entitle the holder to purchase one share of common stock at
an exercise price of (i) $0.50 per share from the date of issuance
through June 30, 2016 and (ii) $1.50 per share from July 1, 2016 through
the warrant expiration date. Opexa has applied to list the warrants on
NASDAQ, although there is no assurance that a sufficient number of
subscription rights will be exercised so that the warrants will meet the
minimum listing criteria to be accepted for listing on NASDAQ. The
warrants will be redeemable if Opexa’s common stock closes
above $2.50 per share for 10 consecutive trading days.
Opexa has engaged Maxim Group LLC as lead dealer-manager and National
Securities Corporation as co-dealer-manager for the rights offering. Questions
about the rights offering or requests for copies of the prospectus may
be directed to Advantage Proxy, Inc., the Company's information agent
for the rights offering, by calling (877) 870-8565 (toll-free) or
emailing ksmith@advantageproxy.com;
or Maxim Group LLC 405 Lexington Avenue, New York, NY 10174, Attention
Syndicate Department, email: syndicate@maximgrp.com or
telephone (212) 895-3745; or National Securities Corporation, 410 Park
Avenue, 14th Floor, New York, NY 10022, Attention Syndicate
Department, email: kaddarich@nationalsecurities.com or
telephone (212) 417-8164.
The Company's registration statement on Form S-1 was declared effective
by the U.S. Securities and Exchange Commission (SEC) on Wednesday,
February 25, 2022. The prospectus as well as supplement no. 1 thereto
dated March 9, 2022, supplement no. 2 thereto dated April 1, 2022 and
all of the Company's SEC filings may be found by clicking on the
following link:
http://www.opexatherapeutics.com/investors-relations/sec-filings/default.aspx
The rights offering will be made only by means of a prospectus filed
with the SEC as part of the registration statement relating to the
rights offering, which registration statement was declared effective on
February 25, 2022. This press release does not constitute an
offer to sell or the solicitation of an offer to buy these securities,
nor will there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such state or jurisdiction.
About Opexa
Opexa is a biopharmaceutical company developing a personalized
immunotherapy with the potential to treat major illnesses, including
multiple sclerosis (MS) as well as other autoimmune diseases such as
neuromyelitis optica (NMO). These therapies are based on Opexa’s
proprietary T-cell technology. The Company’s leading therapy candidate,
Tcelna®, is a personalized T-cell immunotherapy that is in a Phase IIb
clinical development program (the Abili-T trial) for the treatment of
secondary progressive MS. Tcelna is derived from T-cells isolated from
the patient’s peripheral blood, expanded ex vivo, and reintroduced into
the patients via subcutaneous injections. This process triggers a potent
immune response against specific subsets of autoreactive T-cells known
to attack myelin.
For more information, visit the Opexa Therapeutics website at www.opexatherapeutics.com.
Cautionary Statement Relating to Forward - Looking Information for
the Purpose of "Safe Harbor" Provisions of the Private Securities
Litigation Reform Act of 1995
This release contains forward-looking statements which are made
pursuant to the safe harbor provisions of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Statements contained in this release, other than
statements of historical fact, constitute “forward-looking statements.”
The words “expects,” “believes,” “potential,” “possibly,” “estimates,”
“may,” “could” and “intends,” as well as similar expressions, are
intended to identify forward-looking statements. These forward-looking
statements do not constitute guarantees of future performance. Investors
are cautioned that statements which are not strictly historical
statements, including, without limitation, statements regarding plans
and objectives for product development (including for Tcelna
(imilecleucel T) and OPX-212), constitute forward-looking statements.
Such forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially from
those anticipated. These risks and uncertainties include, without
limitation, risks associated with the following: market conditions; our
capital position; our ability to compete with larger, better financed
pharmaceutical and biotechnology companies; new approaches to the
treatment of our targeted diseases such as MS and NMO; our expectation
of incurring continued losses; our uncertainty of developing a
marketable product; our ability to raise additional capital to continue
our development programs (including to undertake and complete any
ongoing or further clinical studies for Tcelna, to complete preclinical
development activities and potentially file an IND for OPX-212, and
potentially to conduct a Phase 1/2 proof-of-concept study for OPX-212 in
NMO); our ability to maintain compliance with NASDAQ listing standards;
the success of our clinical trials (including the Phase IIb trial for
Tcelna in secondary progressive MS which, depending upon results, may
determine whether Ares Trading SA (“Merck Serono”), a wholly owned
subsidiary of Merck Serono S.A., elects to exercise its option
(“Option”) to acquire an exclusive, worldwide (excluding Japan) license
of our Tcelna program for the treatment of MS); the success of our
development programs (including the preclinical development activities
with respect to OPX-212); whether Merck Serono exercises its Option and,
if so, whether we receive any development or commercialization milestone
payments or royalties from Merck Serono pursuant to the Option; our
dependence (if Merck Serono exercises its Option) on the resources and
abilities of Merck Serono for the further development of Tcelna; the
efficacy of Tcelna for any particular indication, such as for Relapsing
Remitting MS or Secondary Progressive MS; our ability to develop and
commercialize products; our ability to obtain required regulatory
approvals; our compliance with all FDA regulations; our ability to
obtain, maintain and protect intellectual property rights (including for
Tcelna and future pipeline candidates such as OPX-212); the risk of
litigation regarding our intellectual property rights or the rights of
third parties; our limited manufacturing capabilities; our dependence on
third-party suppliers and manufacturers; our ability to hire and retain
skilled personnel; our volatile stock price; and other risks detailed in
our filings with the SEC. These forward-looking statements speak only as
of the date made. We assume no obligation or undertaking to update or
revise any forward-looking statements contained herein to reflect any
changes in our expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based. You
should, however, review additional disclosures we make in our
registration statement on Form S-1 for the rights offering that has been
declared effective by the SEC, as well as our Annual Reports on Form
10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Source: Opexa Therapeutics, Inc.