INCOME TAXES	12 Months Ended
Dec. 31, 2013
INCOME TAXES	NOTE 8—INCOME TAXES Opexa uses the liability method, where deferred tax assets and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes. At December 31, 2013 and 2012, Opexa had approximately $76 million and approximately $63 million of unused net operating losses, respectively, available for carry forward to future years. The unused net operating losses begin to expire at December 31, 2024. At December 31, 2013 and 2012, Opexa’s deferred tax asset resulting from its cumulative NOLs amounted to $25,845,467 and $23,678,228, respectively which is covered by a full valuation allowance due to uncertainty of Opexa’s ability to generate future taxable income necessary to realize the related deferred tax asset. Also at December 31, 2013 and 2012, Opexa has approximately $5.7 million of research and development tax credits available to offset future income which is also covered by a full valuation allowance.

INCOME TAXES

12 Months Ended

Dec. 31, 2013

NOTE 8—INCOME TAXES

Opexa uses the liability method, where deferred tax assets and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes.

At December 31, 2013 and 2012, Opexa had approximately $76 million and approximately $63 million of unused net operating losses, respectively, available for carry forward to future years. The unused net operating losses begin to expire at December 31, 2024. At December 31, 2013 and 2012, Opexa’s deferred tax asset resulting from its cumulative NOLs amounted to $25,845,467 and $23,678,228, respectively which is covered by a full valuation allowance due to uncertainty of Opexa’s ability to generate future taxable income necessary to realize the related deferred tax asset. Also at December 31, 2013 and 2012, Opexa has approximately $5.7 million of research and development tax credits available to offset future income which is also covered by a full valuation allowance.