Boston, MA 02/12/2014 (wallstreetpr) – Rexahn Pharmaceuticals, Inc. (NYSEMKT: RNN), is a biopharmaceutical engaged in the production of development-stage products. The main line of drugs this company works to bring out are for cross-section of cancers. With one drug candidate on the anvil, the company is considered to hold great potential
However, Rexahn Pharmaceuticals, Inc. (NYSEMKT: RNN) share prices of this single-candidate cancer cure developer dropped. The reason was the rather complacent reportage of company update by the CEO which did not indicate any scope for increased investments.
Company update triggers slide
Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) saw a drop in the share prices, to the tune of 5.08% following a company update presented by the Chief Executive Officer on Feb 10, 2014. The presentation was made at the 16th Annual BIO CEO and Investor Conference held in New York City. Additionally, the company also announced that it would sell units to the tune of $20 million, which saw direct offering priced at $1.05 for a unit. The unit is considered as common stock of one share with warrant period of half-decade. The purchase will be for 0.25 for a share of common stock and is expected to see a price band-width to the tune of $1.25 per share.
Archexin is the key
Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) drug candidate is ARchexin, which essentially works to inhibit Akt cancer. Many of other drug candidates that this cancer-prevention corporation is working towards are considered to be in the pre-clinical stage of development.
Interestingly, there are two pre-candidates for treating cancer of the kidneys or Renal Cell Carcinoma (CNS) with Serdaxin, which is a known drug for the treatment of CNS disorder drugs which are used for depression as well as a range of neurodegenerative diseases. Besides, there is Zoraxel, which is used in treating conditions of ED as well as other complications of the genre. These are in the clinical stages of development.
