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&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"&gt;
Note 11.&amp;#xA0;&amp;#xA0;Subsequent Events&lt;/font&gt;&lt;/div&gt;
&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block"&gt;&lt;br /&gt;&lt;/div&gt;
&lt;div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"&gt;On
July 1, 2013, 123,231 shares of common stock were issued to holders
of the July 2012 Notes as payment of accrued interest.&lt;/font&gt;&lt;/div&gt;
&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block"&gt;&lt;br /&gt;&lt;/div&gt;
&lt;div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"&gt;On
August 13, 2013, Opexa closed an underwritten public offering of 12
million shares of common stock at a price to the public of $1.50
per share for gross proceeds of $18 million.&amp;#xA0; The net proceeds
to Opexa were approximately $16.2 million, after deducting
underwriting discounts and commissions and other estimated offering
expenses.&amp;#xA0; Opexa also granted the underwriters a 30-day option
to purchase up to an additional 1.8 million shares of common stock
to cover over-allotments, if any.&lt;/font&gt;&lt;/div&gt;
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