Subsequent Events	9 Months Ended
Sep. 30, 2012
Subsequent Events	Note 10. Subsequent Events On November 2, 2012, Opexa entered into a $15,000,000 purchase agreement and a registration rights agreement, and on November 5, 2012, Opexa entered into a $1,500,000 purchase agreement, each with Lincoln Park Capital Fund, LLC (“Lincoln Park”) pursuant to which Opexa has the right to sell to Lincoln Park an aggregate of up to $16,500,000 in shares of its common stock, subject to certain conditions and limitations. Under the terms and subject to the conditions of the purchase agreements, Lincoln Park is obligated to purchase up to an aggregate of $16,500,000 in shares of common stock (subject to certain limitations) from time to time over a 30-month period (which, as it relates to the $15,000,000 purchase agreement, commences on the date that a registration statement is declared effective by the SEC and a final prospectus in connection therewith is filed). Opexa may direct Lincoln Park, at its sole discretion and subject to certain conditions, to purchase up to 100,000 shares of common stock in regular purchases, increasing to amounts of up to 300,000 shares depending upon the closing sale price of the Company’s common stock. In addition, Opexa may direct Lincoln Park to purchase additional amounts as accelerated purchases if on the date of a regular purchase the closing sale price of the Company’s common stock equals or exceeds $0.75 per share. The purchase price of shares of common stock related to the future funding will be based on the prevailing market prices of such shares at the time of sales (or over a period of up to 12 business days leading up to such time), but in no event will shares be sold to Lincoln Park on a day the common stock closing price is less than the floor price of $0.45, subject to adjustment. As of November 8, 2012, Opexa had sold 100,000 shares to Lincoln Park under the $1,500,000 purchase agreement for gross proceeds of $50,000. The purchase agreements also limit Opexa’s sales of shares of common stock to Lincoln Park to the lesser of (i) the maximum number of shares of common stock issuable under applicable rules of the NASDAQ Capital Market, unless shareholder approval to exceed that maximum is obtained or the average price of all applicable sales of common stock exceed a “base price” (or $0.7739, representing Opexa’s closing consolidated bid price on November 2, 2012 plus an incremental amount to account for the issuance of commitment shares) such that the sales to Lincoln Park are considered to be at least “at market” under applicable NASDAQ rules, (ii) no more than the number of shares that would result in the beneficial ownership by Lincoln Park and its affiliates, at any single point in time, of more than a stated percentage of the then outstanding shares of common stock (i.e., 4.99% under the $1,500,000 purchase agreement, and 9.99% under the $15,000,000 purchase agreement) and (iii) with respect to the $1,500,000 purchase agreement only, the maximum number of shares of common stock that Opexa may issue without exceeding the ceiling set forth in General Instruction I.B.6. of Form S-3 and the applicable interpretive guidance of the SEC (i.e., an amount based on one-third of the market value of our outstanding common stock held by non-affiliates), noting that shares Opexa may sell under its at-the-market offering program effectively reduce such ceiling. As consideration for its commitment to purchase shares of common stock pursuant to the purchase agreements, Opexa issued to Lincoln Park 226,027 shares of common stock and agreed to issue up to an aggregate of an additional 452,055 shares of common stock on a pro rata basis when and if Lincoln Park purchases shares of common stock under the purchase agreements.

Note 10. Subsequent Events

On November 2, 2012, Opexa entered into a $15,000,000 purchase agreement and a registration rights agreement, and on November 5, 2012, Opexa entered into a $1,500,000 purchase agreement, each with Lincoln Park Capital Fund, LLC (“Lincoln Park”) pursuant to which Opexa has the right to sell to Lincoln Park an aggregate of up to $16,500,000 in shares of its common stock, subject to certain conditions and limitations.

Under the terms and subject to the conditions of the purchase agreements, Lincoln Park is obligated to purchase up to an aggregate of $16,500,000 in shares of common stock (subject to certain limitations) from time to time over a 30-month period (which, as it relates to the $15,000,000 purchase agreement, commences on the date that a registration statement is declared effective by the SEC and a final prospectus in connection therewith is filed). Opexa may direct Lincoln Park, at its sole discretion and subject to certain conditions, to purchase up to 100,000 shares of common stock in regular purchases, increasing to amounts of up to 300,000 shares depending upon the closing sale price of the Company’s common stock. In addition, Opexa may direct Lincoln Park to purchase additional amounts as accelerated purchases if on the date of a regular purchase the closing sale price of the Company’s common stock equals or exceeds $0.75 per share. The purchase price of shares of common stock related to the future funding will be based on the prevailing market prices of such shares at the time of sales (or over a period of up to 12 business days leading up to such time), but in no event will shares be sold to Lincoln Park on a day the common stock closing price is less than the floor price of $0.45, subject to adjustment. As of November 8, 2012, Opexa had sold 100,000 shares to Lincoln Park under the $1,500,000 purchase agreement for gross proceeds of $50,000.

The purchase agreements also limit Opexa’s sales of shares of common stock to Lincoln Park to the lesser of (i) the maximum number of shares of common stock issuable under applicable rules of the NASDAQ Capital Market, unless shareholder approval to exceed that maximum is obtained or the average price of all applicable sales of common stock exceed a “base price” (or $0.7739, representing Opexa’s closing consolidated bid price on November 2, 2012 plus an incremental amount to account for the issuance of commitment shares) such that the sales to Lincoln Park are considered to be at least “at market” under applicable NASDAQ rules, (ii) no more than the number of shares that would result in the beneficial ownership by Lincoln Park and its affiliates, at any single point in time, of more than a stated percentage of the then outstanding shares of common stock (i.e., 4.99% under the $1,500,000 purchase agreement, and 9.99% under the $15,000,000 purchase agreement) and (iii) with respect to the $1,500,000 purchase agreement only, the maximum number of shares of common stock that Opexa may issue without exceeding the ceiling set forth in General Instruction I.B.6. of Form S-3 and the applicable interpretive guidance of the SEC (i.e., an amount based on one-third of the market value of our outstanding common stock held by non-affiliates), noting that shares Opexa may sell under its at-the-market offering program effectively reduce such ceiling.

As consideration for its commitment to purchase shares of common stock pursuant to the purchase agreements, Opexa issued to Lincoln Park 226,027 shares of common stock and agreed to issue up to an aggregate of an additional 452,055 shares of common stock on a pro rata basis when and if Lincoln Park purchases shares of common stock under the purchase agreements.