We originally covered Opexa Therapeutics in September of 09, today Opexa (Nasdaq: OPXA) shares surged as much as 23.4% to a high of $1.95 ahead of the stem cell research firm’s presentation this afternoon at the Rodman & Renshaw healthcare conference. Neil K. Warma, Opexa’s President and Chief Executive Officer will deliver a corporate presentation that will include an overview of the Company’s ongoing clinical development program for Tovaxin, the Company’s lead therapy for Multiple Sclerosis (MS).
In addition to Opexa’s corporate presentation, other contributing factors are at play in the Company’s surging share prices. Vista Partners, a research and consulting firm, announced Monday that it has initiated coverage on Opexa Therapeutics with a twelve month target price of $4.40, representing a 300% premium to Friday’s closing value.
Ross Silver, Principal Analyst at Vista Partners stated, “Opexa’s lead clinical candidate Tovaxin®, an autologous cellular immunotherapy for the treatment of Multiple sclerosis, has shown promising clinical data to date.” Silver went on to address Opexa’s stem cell therapy partnership with Novartis (NYSE: NVS) stating that approval of other autologous cellular immunotherapy treatments, most notably Dendreon’s Provenge, has increased knowledge and acceptance of stem cell therapies and would “likely increase Opexa’s value amongst potential partners.”
Lastly, ongoing court battles over federally funded stem cell research have been affecting the Stem Cell Stocks Index, which is trading down -2.5% for the past 30 days. At the end of last month, all 11 of the Stem Cell Stocks Index components are -30% from their 52-week high with Opexa Therapeutics more than -60% from its peak.