DEFERRED REVENUE	12 Months Ended
Dec. 31, 2013
DEFERRED REVENUE	NOTE 7- DEFERRED REVENUE On February 4, 2013, Opexa entered into the Merck Agreement (see Note 1). Opexa received an upfront payment of $5 million for granting the option. As a “stand-alone value” term in the Merck Agreement, the $5 million upfront payment is determined to be a single unit of accounting, and is recognized as revenue on a straight-line basis over the exclusive option period based on the expected completion term of the Phase IIb clinical trial in SPMS. Opexa includes the unrecognized portion of the $5 million as deferred revenue on the consolidated balance sheets.

DEFERRED REVENUE

12 Months Ended

Dec. 31, 2013

NOTE 7- DEFERRED REVENUE

On February 4, 2013, Opexa entered into the Merck Agreement (see Note 1). Opexa received an upfront payment of $5 million for granting the option. As a “stand-alone value” term in the Merck Agreement, the $5 million upfront payment is determined to be a single unit of accounting, and is recognized as revenue on a straight-line basis over the exclusive option period based on the expected completion term of the Phase IIb clinical trial in SPMS. Opexa includes the unrecognized portion of the $5 million as deferred revenue on the consolidated balance sheets.