XML 37 R40.htm IDEA: XBRL DOCUMENT v2.4.0.8
Convertible Promissory Notes - Additional Information (Detail) (USD $)
1 Months Ended 12 Months Ended 131 Months Ended 1 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 12 Months Ended 1 Months Ended
Dec. 23, 2013
Sep. 30, 2013
Sep. 24, 2013
Feb. 11, 2013
Jan. 23, 2013
Jan. 31, 2013
Jul. 25, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2010
Dec. 31, 2004
Dec. 31, 2013
Jul. 25, 2012
Minimum
Jul. 25, 2012
Maximum
Feb. 28, 2013
Common Stock
Dec. 31, 2013
Common Stock
Dec. 31, 2010
Common Stock
Dec. 31, 2004
Common Stock
Feb. 28, 2013
January 2013 Notes
Dec. 31, 2013
January 2013 Notes
Feb. 28, 2013
January 2013 Notes
Common Stock
Sep. 24, 2013
Amendment
Sep. 23, 2013
Amendment
Sep. 23, 2013
Amendment
Minimum
Sep. 23, 2013
Amendment
Maximum
Sep. 24, 2013
Amendment
Common Stock
Jul. 25, 2012
July 2012 Notes
Jul. 25, 2012
July 2012 Notes
Conversion of Notes into Series A Preferred Stock
Jul. 25, 2012
July 2012 Notes
Conversion of Notes into Series A Preferred Stock
To partially fund, or an option to partner with Opexa
Jul. 25, 2012
July 2012 Notes
Conversion of Notes into Series A Preferred Stock
Additional capital from any partner, potential partner or any other source
Dec. 31, 2012
Warrant Liability
Dec. 31, 2013
Option and License Agreement
Feb. 04, 2013
Option and License Agreement
Jul. 25, 2012
Conversion of Series A Convertible Preferred Stock into common stock
Jul. 25, 2012
Related Party Transactions
Dec. 31, 2013
Related Party Transactions
Sep. 24, 2013
Related Party Transactions
Jan. 31, 2013
Related Party Transactions
Jul. 25, 2012
Related Party Transactions
July 2012 Notes
Sep. 24, 2013
Related Party Transactions
Warrant Liability
Dec. 31, 2012
Related Party Transactions
Warrant Liability
Dec. 31, 2013
Related Party
Feb. 28, 2013
Convertible debt
Jan. 23, 2013
Convertible debt
Feb. 28, 2013
Convertible debt
Common Stock
Jan. 23, 2013
Convertible debt
Related Party
Debt Instrument [Line Items]                                                                                            
Convertible secured promissory notes, principal amount             $ 4,085,000                                       $ 4,085,000               $ 630,000   $ 647,813 $ 100,000 $ 630,000              
Debt Instrument, Maturity Date                                                     Jul. 25, 2014                                 Jan. 23, 2014    
Debt instrument interest payment date description                                                     Interest was payable semi-annually on June 30 and December 31 in either cash or registered shares of common stock, at Opexa's election.                                      
Convertible debt instrument, effective interest rate                                                     12.00%                                 12.00%    
Convertible debt, conversion price                                           $ 1.91   $ 1.50 $ 2.25   $ 100.00                         $ 1.91       $ 1.30    
Milestone to elect to convert Notes into Series A convertible preferred stock, minimum                                                         5,000,000 25,000,000                                
Minimum common stock price required for 20 consecutive trading days to elect to convert                                                       $ 10.00           $ 16.00                        
Conversion of Notes to Series A convertible preferred stock, description                                                       The Notes could be converted into Series A convertible preferred stock at the option of the investors at a price of $100.00 per share, subject to certain limitations and adjustments. Additionally, Opexa could elect to convert the Notes into Series A convertible preferred stock if (i) Opexa’s common stock closed at or above $10.00 per share for 20 consecutive trading days or (ii) Opexa achieved certain additional funding milestones to continue its clinical trial program. These milestones included (x) executing a strategic agreement with a partner or potential partner by which Opexa will receive a minimum of $5 million to partially fund, or an option to partner with Opexa for, its Phase II clinical trial for Tcelna in patients with SPMS and (y) receiving a minimum of $25 million in additional capital (including the Note offering proceeds) from any partner, potential partner or any other source.                                    
Series A Convertible Preferred Stock, dividend rate             8.00%                                                                              
Dividend payment description             The Series A convertible preferred stock accrued dividends at the rate of 8% per annum, which are cumulative and payable semi-annually on June 30 and December 31 in either cash or registered shares of common stock at Opexa's election                                                                              
Series A Convertible Preferred Stock, Liquidation Preference             $ 100.00                                                                              
Conversion of preferred stock into common stock, price per share             $ 3.12                                                                              
Common stock issuable upon conversion of convertible secured promissory notes into Series A preferred stock                           1,308,236                                                                
Debt Conversion, Description                                                                   Additionally, Opexa could elect to convert the Series A convertible preferred stock into common stock if the Company's common stock closes at or above $16.00 per share for 20 consecutive trading days.                        
Restricted cash           500,000   0 1,000,000     0                                                                    
Debt instrument, beneficial conversion feature           141,829 1,497,634 141,829                                                     230,969 21,820                    
Amortized debt discount                 1,497,634                                           104,032                   16,044          
Warrants issued             957,422                                                                              
Warrants exercise price       $ 3.00 $ 1.24 $ 1.21 $ 5.00           $ 2.56                                                                  
Warrants term       4 years 5 years 5 years 5 years                                                                              
Warrant excercise terms subject to antidilution adjustment description             As a result of anti-dilution adjustments, the number of warrant shares for which the Series I warrants are exercisable increased to an aggregate increase of 1,436,121 shares of Opexa’s common stock at an adjusted exercise price of $2.56 per share, subject to further certain limitations and adjustments. As a result, Opexa accounted for these reset provisions in accordance with FASB ASC 815-40, which requires Opexa to record the warrants as a derivative liability at the grant date and to record changes in fair value relating to the warrants at each subsequent balance sheet date                                                                              
Warrant redemption per share description         Opexa can redeem the warrants at $0.01 per share if the Company's common stock closes at or above $10.00 per share for 20 consecutive trading days. Opexa can redeem the warrants at $0.01 per underlying share of common stock if the common stock closes at or above $10.00 per share for 20 consecutive trading days. Opexa can redeem the warrants at $0.01 per share if its common stock closes at or above $10.00 per share for 20 consecutive trading days.                                                                              
Discount on warrant           195,969 2,314,635 195,969 2,314,635     6,170,341                                                                    
Gain (loss) on derivative instruments                 552,978     1,941,826                                     552,978                              
Convertible debt, unamortized discount     2,432,681           3,708,237                                                   587,939                      
Convertible notes, principal amount converted                                     100,000                                               900,000      
Common shares issued 4,738,000 900,000                                                                                     288,229  
Aggregate principal amount outstanding     756,141                                       3,185,000                                              
Conversion of convertible notes               4,275,053   1,380,091 248,370         20,799 6,900 7,594       3,275,053                                                
Common shares issued, note conversion     1,714,697                       365,263 2,079,960 690,045 15,187     77,034         1,714,697                                        
Loss on extinguishment of debt     (2,518,912)         (2,518,912)       (906,472)                                                                    
Accrued interest     98,053                                                                                      
Unamortized deferred financing cost     86,231           211,479                                                                          
Gross proceed from the issuance of convertible note                                                                                       650,000   100,000
Minimum receipt of proceeds from sale of equity securities and/or as payments from partners to pay any remaining balance of note payable                                                                                       7,500,000    
Number of business days to pay remaining convertible debts                                                                                       5 days    
Warrants issued         243,750 243,750                                                                                
Gross proceeds from sales of common stock and warrants to purchase shares of common stock               3,250,000                                                                            
Proceeds from up front cash payment                                                               5,000,000 5,000,000                          
Principal and interest paid               567,368                                                                   100,000        
Amortization of debt discount to interest expense               $ 1,613,354 $ 104,032     $ 8,470,084               $ 337,798