X0303 4 2008-09-19 1 0001069308 Opexa Therapeutics, Inc. OPXA 0001010207 ROTH MICHAEL C/O STARK INVESTMENTS 3600 SOUTH LAKE DRIVE ST. FRANCIS WI 53235 0 0 1 0 0001010208 STARK BRIAN JAY C/O STARK INVESTMENTS 3600 SOUTH LAKE DRIVE ST. FRANCIS WI 53235 0 0 1 0 Common Stock, $0.50 par value per share 2008-09-19 4 S 0 184376 0.2129 D 805174 I By SF Capital Partners Ltd. Common Stock, $0.50 par value per share 2008-09-19 4 S 0 195000 0.2064 D 610174 I By SF Capital Partners Ltd. Common Stock, $0.50 par value per share 2008-09-22 4 S 0 250000 0.2559 D 360174 I By SF Capital Partners Ltd. Common Stock, $0.50 par value per share 2008-09-22 4 S 0 500 0.25 D 359674 I By SF Capital Partners Ltd. The shares of Common Stock are held directly by SF Capital Partners Ltd. ("SF Capital"). The Reporting Persons direct the management of Stark Offshore Management LLC ("Stark Offshore"), which acts as investment manager and has sole power to direct the management of SF Capital. As the Managing Members of Stark Offshore, the Reporting Persons possess voting and dispositive power over all of the foregoing shares. Therefore, for the purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended, the Reporting Persons may be deemed to be the beneficial owners of, but hereby disclaim such beneficial ownership of, the foregoing shares. /s/ Michael A. Roth 2008-09-23 /s/ Brian Jay Stark 2008-09-23