CASH AND CASH EQUIVALENTS

107 Months Ended

Dec. 31, 2011

CASH AND CASH EQUIVALENTS

NOTE 2—CASH AND CASH EQUIVALENTS

At December 31, 2011, Opexa invested approximately $7.0 million in a money market account with an average market yield of 0.01%. The money market fund invests exclusively in high-quality, short-term money market instruments consisting of U.S. government obligations and repurchase agreements collateralized by the U.S. Government. While this fund seeks current income while preserving capital and liquidity, the fund is subject to risk, including U.S. government obligations risk, and is not federally insured or guaranteed by or obligations of the Federal Deposit Insurance Corporation or any other agency. Interest income of $932 was recognized for the year ended December 31, 2011 in the statements of expenses.

At December 31, 2010, Opexa invested approximately $3.7 million in a money market account with an average market yield of 0.03%. Interest income of $1,660 was recognized for the year ended December 31, 2010 in the statements of expenses.