Opexa Therapeutics (OXPA) Sees A Day of Consolidation After Massive Surge

After ramping 270% yesterday on positive drug data, shares of Opexa Therapeutics, Inc. (Nasdaq: OPXA) are down 29% today suggesting the move was too far, too fast.

Yesterday, Opexa announced that Phase IIb data showed that more than 83% of the the group treated with their Tovaxin multiple sclerosis drug remained relapse free at one year and the annualized relapse rate after treatment decreased to 0.20, a 42% reduction compared to placebo. The news sent OPXA to as high as $6.93 intra-day yesterday and a closing price of $5.66.

Opexa is no stranger to wild price swings. In August, shares more than quadrupled from the $0.50 level after announcing an exclusive agreement with Novartis (NYSE: NVS) to further develop its novel stem cell technology.

So while today is a day of consolidation in OPXA, the wild action in the stock is unlikely done.

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