Shares of Opexa Therapeutics, Inc. (NASDAQ:OPXA) Plunge Upon Release of Results From Trial

Biotechnology company, Opexa Therapeutics, Inc. (NASDAQ:OPXA), reveals that their Phase 2b Abili-T clinical trial did not meet its primary nor secondary endpoints.

Opexa Therapeutics Inc. (OPXA) shares were in free fall Friday morning after the company reported results from its mid-stage trial for the treatment of secondary progressive multiple sclerosis. The company said that its Phase 2b Abili-T clinical trial evaluating the efficacy and safety of Tcelna did not meet its primary endpoint of reduction in brain volume change (atrophy), nor the secondary endpoint for the reduction of the rate of sustained disease progression.

Patients in the Tcelna arm of the study received two annual courses of Tcelna treatment consisting of five subcutaneous injections per year.

For some background: Opexa Therapeutics is a biopharmaceutical company developing personalized immunotherapies based on ImmPath, its proprietary T-cell technology, with the potential to treat autoimmune diseases. Opexa’s staff of cell therapy experts operates in a stand-alone facility located in Texas.

Neil K. Warma, president and CEO of Opexa, commented:

We are disappointed that Tcelna did not meet the predefined endpoints in the Abili-T trial. We will evaluate the full data set over the coming weeks and review cash preservation options while we consider the best path forward for the company.

Excluding Friday’s move, Opexa had actually outperformed the market, with the stock up almost 23% year to date. Over the past 52 weeks, the stock was up 14%.

Shares of Opexa were last seen down over 60% at $1.30, with a consensus analyst price target of $9.33 and a 52-week trading range of $1.15 to $5.10.

About Opexa:

Opexa Therapeutics, Inc. (NASDAQ:OPXA) is a publicly traded biotechnology company developing personalized immunotherapies 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.

Opexa’s mission is to lead the field of Precision Immunotherapy™ by aligning the interests of patients, employees and shareholders.

Original Source

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Opexa Therapeutics, Inc. (NASDAQ:OPXA) shares are trading -69.12% on the news and in the range of $1.00 – 1.45 during the current trading session.  When taking a look at which direction the stock might be headed, investors often look to brokerage analysts who cover the stock.  Sell-side research firms on Wall Street currently have a consensus one-year price target of $9.33 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.

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Sell-side analysts are projecting earnings per share of $-0.26 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $-1.12 per share according to First Call.

In looking at where the stock is trading on a technical level, the stock is trading -69.53% away from its 50-day moving average of $3.45.  Based on the most recent available data, the equity is -79.41% off of its 52-week high of $5.10 and +5.00% away from its 52-week low which is $1.00.

Today, the stock opened at $1.25 and the last bid at the time of writing stood at $1.05.  During the session thus far, the equity dipped down to $1.00 and touched $1.45 as the high point.  Opexa Therapeutics, Inc. (NASDAQ:OPXA) has a market cap of $7.40M and has seen an average daily volume of 160,232 over the past three months.

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