SAN FRANCISCO, April 20, 2011 /PRNewswire/ -- Vista Partners announced today that it has updated coverage on Opexa Therapeutics, Inc. (Nasdaq: OPXA) ("the Company")and maintains its twelve month target price of $6.50. Ross Silver, Principal Analyst at Vista Partners stated, "According to the Company, Opexa's lead clinical candidate Tovaxin®, an autologous cellular immunotherapy for the treatment of Multiple sclerosis, is scheduled to advance into a pivotal Phase 3 clinical study in the U.S. in the second of half of 2011." Mr. Silver continued, "In clinical trials performed to date, Tovaxin® has compared favorably to already approved MS therapies, which are multi-billion dollar drugs. Of most significance in our opinion is Tovaxin® ranking ahead of both Copaxone® and Avonex® in Annualized Relapse Rate ("ARR"). ARR is possibly the most clinically relevant endpoint and is the single most important measure by which the FDA evaluates MS drugs for approval." Mr. Silver concluded, "Dendreon's Provenge®, the first FDA-approved autologous cellular immunotherapy which was recently approved by The Centers for Medicare and Medicaid Services for reimbursement of $93,000, has increased awareness and acceptance for this therapeutic approach."
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