PharmaFrontiers Reports Third Quarter 2005 Financial Results; Provides Update on Research & Development Activities.

THE WOODLANDS, Texas -- PharmaFrontiers Corp (OTCBB: PFTR), a company involved in the development of novel cell therapies, including one for Multiple Sclerosis which is about to enter Phase IIb clinical trials, announced today its financial results for the three and nine month periods ended September 30, 2005, as well as providing an update on its research programs and future plans.

Highlights during the third quarter of 2005 and recent weeks included:

--Positive interim research findings of PharmaFrontiers' Phase I/II clinical trials of Tovaxin(TM) presented at the 21st European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS) and the 10th Americas Committee for Treatment and Research in Multiple Sclerosis (ACTRIMS) congress held in Thessaloniki, Greece;

--PharmaFrontiers Tovaxin Phase IIb Multiple Sclerosis Clinical Trial Protocol accepted by the U.S. Food and Drug Administration's (FDA) Center for Biologics Evaluation and Research (CBER);

--Election of Brooks Boveroux as chairman of the board and the reconstitution of the Company's audit committee with Mr. Boveroux as its chairman;

--Retention of MDB Capital Group to serve as the Company's financial advisor.

Research and Development

In October, the Company presented positive interim research findings of its Phase I/II clinical trials of Tovaxin at the 21st European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS) and the 10th Americas Committee for Treatment and Research in Multiple Sclerosis (ACTRIMS) congress held in Thessaloniki, Greece. The trial results indicated that the treatment appeared safe and well tolerated with no dose-limiting toxicities, and that Tovaxin depletes the myelin-peptide reactive T cells that may contribute to the Multiple Sclerosis (MS) disease processes.

More recently, PharmaFrontiers announced that the U.S. Food and Drug Administration's (FDA) Center for Biologics Evaluation and Research (CBER) had approved the protocol for its Phase IIb clinical trial of Tovaxin. PharmaFrontiers will be conducting the Phase IIb with its clinical development partner, INC Research, Raleigh, NC. The Company expects to commence this pivotal Phase IIb study by the end of 2005 or early 2006.

This multicenter, randomized, double blind, placebo-controlled Phase IIb clinical study is designed primarily to evaluate the efficacy, safety and tolerability of the Tovaxin T Cell therapy with clinically isolated syndrome (CIS) and early relapsing-remitting MS (RR-MS) patients. Additionally, the study of these patients will evaluate biomarkers of Tovaxin's efficacy and to evaluate the effect of Tovaxin on immune deviation and epitope spreading.

David McWilliams, chief executive officer of PharmaFrontiers Corp, commented, "The Tovaxin clinical program continues to show promising results and this `green light' from the FDA is a significant milestone for us. We believe that the protocol design will allow us to study the clinical effects of Tovaxin in a group of patients requiring a safe and effective therapy. More importantly, we also believe that the successful completion of this Phase IIb clinical trial will allow us to launch a Phase III pivotal trial, bringing us towards our ultimate goal in allowing the power of our technology to treat those who are afflicted with Multiple Sclerosis."

Recent Events

The Company recently announced the unanimous election of Brooks Boveroux as chairman of PharmaFrontiers' board of directors. Mr. Boveroux, age 62, previously served as interim chairman. In addition to his duties as chairman, Mr. Boveroux has assumed primary responsibility in leading the Company in its finance and capital-raising activities as well as its efforts in the public markets. This builds upon Mr. Boveroux's significant and proven expertise in guiding the finance activities of companies in the biotechnology industry. Mr. Boveroux previously served as VP of finance and CFO for companies such as Biogen, ImClone Systems and The Liposome Company all of which grew to become significant Nasdaq listed companies. Mr. Boveroux also serves as chairman of the audit committee.

"I am very enthusiastic about my election as chairman given the opportunities that lie ahead, as PharmaFrontiers prepares to implement its Phase IIb clinical trials of Tovaxin," stated Brooks Boveroux, chairman of PharmaFrontiers. "Our board is relatively new, with all of our independent directors having served for less than one year. The other board members and I are looking forward to working with the management team in helping to guide the Company's finance and operational activities."

Additionally, PharmaFrontiers recently retained MDB Capital Group to serve as its financial advisor. MDB Capital Group is a research driven investment bank providing financial services to emerging growth companies, as well as institutional asset management firms, mutual funds, hedge funds and high net worth individuals. Founded in 1997, MDB provides professional services in the areas of equity research, sales and trading, investment banking, and portfolio management. Its investment banking team has over 65 years of combined experience in life sciences. The firm also has four research analysts and currently covers seven biotech companies.

Mr. Boveroux added, "I am also pleased regarding our new relationship with MDB Capital, which will be important in helping us to access the capital markets and secure the funds we need to advance our research efforts and bring our therapeutics to patients."

Financial Results

The Company's financial statements compare the three and nine months ended September 30, 2005 with results from the three and nine months ended September 30, 2004 and with results from its inception through to September 30, 2005.

The Company reported no revenue for the three and nine months ended September 30, 2005 or in its comparative period. General and administrative expenses during the three and nine months ended September 30, 2005 were $2,762,826 and $7,092,615, respectively, compared with $622,311 and $1,685,714 during the same periods in 2004. This increase is due primarily to the start-up of operations, which included the hiring of new personnel including employees and directors and scientific advisory board members. The increase is also attributable to the acquisition of Opexa Pharmaceuticals and the assumption of its operations. Also included are professional fees incurred from legal, accounting, and consulting services.

Research and development expense was $626,720 and $1,877,787 for the three and nine months of 2005, respectively, compared with no expenses for the same periods in 2004. The increase is primarily related to the acquisition of Opexa Pharmaceuticals and the assumption of its operations and research and development programs, including its ongoing Phase I/II Clinical Trial for Tovaxin as well as the beginning of the Pre-Clinical Studies for Cardiac and Diabetes Stem Cell Therapies. Also included are professional fees incurred from consulting services and legal fees to secure and expand license patent claims.

Interest expense was $1,385,234 and $7,323,573, respectively, for the three and nine months ended September 30, 2005, compared with $20,462 and $169,966 during the same periods in 2004. The increase is primarily related to the amortization of the remaining discount under the beneficial conversion feature of the 15% exchangeable convertible promissory Notes (the "Bridge Notes"), the accrued interest on the Bridge Notes that was converted into shares of Common Stock and offering costs associated with the bridge financing.

PharmaFrontiers had a net loss for the three and nine months of 2005 of ($4,726,848) and ($16,221,894), or ($0.23) and ($1.16) per share (basic and diluted), compared with a net loss of ($628,250) and ($1,851,323) or ($0.08) and ($0.31) per share (basic and diluted), for the same periods in 2004.

As of September 30, 2005, the Company had cash of approximately $4,353,000. In June 2005, PharmaFrontiers completed a private placement of approximately $5.08 million to accredited investors by issuing 3,387,217 units at a purchase price of $1.50 per unit; each unit identical to those issued in the Bridge Note exchange. On July 18, 2005, the Company completed a follow-on private placement of approximately $760,000 to accredited investors and issued 507,292 additional units at a purchase price of $1.50 per unit.

About PharmaFrontiers Corp

PharmaFrontiers is developing and commercializing cell therapies to treat several major disease areas led by Tovaxin to treat Multiple Sclerosis as well as cardiac and pancreatic conditions. PharmaFrontiers owns patented and proprietary individualized cell therapies that are employed in treating MS. The Company also holds the exclusive worldwide license from the University of Chicago, through its relationship with Argonne National Laboratory, for patents relating to the use of adult pluripotent stem cells derived from patients' own circulating blood.

Safe Harbor Statement

This press release contains "forward-looking statements," including statements about PharmaFrontiers' growth and future operating results, discovery and development of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. These forward-looking statements are based on management's current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including those relating to PharmaFrontiers' ability to obtain additional funding, develop its stem cell technologies, achieve its operational objectives, and obtain patent protection for its discoveries, that may cause PharmaFrontiers' actual results to be materially different from any future results expressed or implied by such forward-looking statements. PharmaFrontiers undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

PHARMAFRONTIERS CORP
                     (A Development Stage Company)
                      CONSOLIDATED BALANCE SHEET
                          September 30, 2005
                              (unaudited)

Current Assets
   Cash                                                  $  4,353,317
   Prepaid expenses                                           169,955
                                                          ------------
Total Current Assets                                        4,523,272

Intangible assets, net of accumulated amortization of
 $1,479,609                                                26,539,721
Property & equipment, net of accumulated depreciation of
 $259,110                                                     344,710
                                                          ------------
Total Assets                                             $ 31,407,703
                                                          ============

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
   Accounts payable                                      $    521,232
   Accrued expenses                                           254,823
   Third party non-convertible note                         1,500,000
                                                          ------------
Total Current Liabilities                                   2,276,055
                                                          ------------

Commitments and Contingencies                                       -

Stockholders' Equity
   Convertible preferred stock, no par value, 10,000,000
    shares authorized, none issued and outstanding                  -
   Common stock, $.05 par value, 50,000,000 shares
    authorized, 20,609,545 shares issued and outstanding    1,030,477
   Additional paid in capital                              49,069,732
   Deficit accumulated during the development stage       (20,968,561)
                                                          ------------
Total Stockholders' Equity                                 29,131,648
                                                          ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY               $ 31,407,703
                                                          ============


                         PHARMAFRONTIERS CORP
                     (A Development Stage Company)
                  CONSOLIDATED STATEMENTS OF EXPENSES
    Three and Nine Months Ended September 30, 2005 and 2004 and the
    Period from January 22, 2003 (Inception) to September 30, 2005
                              (unaudited)
                                                          Inception
               Three Months          Nine Months           Through
             Ended September 30,  Ended September 30,    September 30,
               2005      2004       2005        2004         2005
            ----------- --------- ----------- ----------- ------------
General &
 admini-
 strative   $2,762,826  $612,145  $7,092,615  $1,685,714   $9,843,782
Research &
 development   622,311         -   1,877,787           -    2,510,408
            ----------- --------- ----------- ----------- ------------
Net
 operating
 loss       (3,385,137) (612,145) (8,970,402) (1,685,714) (12,354,190)


Interest
 income         31,565     2,475      50,474       2,475       56,466
Other income    11,958     1,882      21,903       1,882       24,282
Interest
 expense    (1,385,234)  (20,462) (7,323,573)   (169,966)  (8,237,701)
Loss on
 disposition
 of fixed
 assets              -         -           -           -     (457,122)
Other
 expense             -         -        (296)          -         (296)
            ----------- --------- ----------- ----------- ------------
Net Loss  $(4,726,848)$(628,250)$(16,221,894)$(1,851,323)$(20,968,561)
            =========== ========= =========== =========== ============

Basic and
 diluted
 loss per
 share          $(0.23)   $(0.08)     $(1.16)     $(0.31)         N/A

Weighted
 average
 common
 Shares
 outstanding 20,482,826 7,397,171  13,973,315   5,890,241         N/A