PharmaFrontiers changes name to Opexa Therapeutics; Shareholders approve 1-for-10 reverse stock split

By E. Janene Geiss

Philadelphia, June 19 - Opexa Therapeutics Inc. announced Monday that its stockholders at the company's 2006 annual meeting on Thursday ratified the change of the company's name to Opexa Therapeutics, Inc. from PharmaFrontiers Corp. and effected a 1-for-10 reverse split of its common stock.

The new ticker symbol on the Over-the-Counter Bulletin Board is "OPXA" and goes into effect Monday. The stock trading will give effect to the reverse split also on Monday, according to a company news release.

The company said its transfer agent, Continental Stock Transfer & Trust Co., will send instructions to the company's shareholders regarding exchange of their old certificates for the new stock certificates.

The company also announced the retirement of C. William Rouse as chief financial officer. Lynne Hohlfeld, vice president of finance at Opexa, will assume the position of chief financial officer as of June 30.

David McWilliams, chief executive officer of Opexa, commented on the recent developments. "Management believes that these proposals will be critical to the company's growth and we are very pleased that our shareholders concurred.

"The reverse stock split will be instrumental in our plan to apply for a Nasdaq listing," David McWilliams, chief executive officer of Opexa, said in the release.

Opexa, based in The Woodlands, Texas, is a biopharmaceutical company focused on cell therapies to treat multiple sclerosis, rheumatoid arthritis, pancreatic and cardiac conditions.

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