Biotech Values

[DewDiligence]

OPXA reverse merges into Acer Therapeutics:

https://finance.yahoo.com/news/acer-therapeutics-opexa-therapeutics-sign-100000220.html

On a pro forma basis for the combined company, following the closing of the proposed merger, (a) current Opexa shareholders are expected to own approximately 11.2%, (b) current Acer stockholders are expected to own approximately 63.8% (excluding shares issued to them in the concurrent financing), and (c) the investors participating in the concurrent financing are expected to own approximately 25% (excluding shares previously held by them).

The proposed merger has been unanimously approved by the boards of directors of both companies, and a majority of Acer's stockholders have agreed to vote in favor of the transaction. The proposed merger is expected to close during the third quarter of 2017…

Opexa's name will be changed to Acer Therapeutics Inc., and Opexa intends to apply to change its ticker symbol on the NASDAQ Capital Market to "ACER."

The directors and the sole executive officer of Opexa will resign from their positions with Opexa upon the closing of the proposed merger, and the combined company will be under the leadership of Acer's current executive management team…

After multiple clinical failures, OPXA is essentially a shell company; its 11% stake in the merged company is based on its Nasdaq listing and cash on hand.