Boston, MA 01/14/2013 (wallstreetpr) – The shares of Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) touched a 52-week high of $1.85 before closing at $1.60 a rise of more than 40% over the previous close. This mid-cap stock has seen some fantastic gains in the last few trading sessions given the good news about progression of the clinical trials.
Introduction to Rexahn Pharma:
Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) is a biopharmaceutical company engaged in research, development and commercialization of treatment for cancer. The company changed its focus a couple of years back and decided to focus exclusively on cancer cures rather than spending its efforts and resources on other lines of treatment. Rexahn has three products in the pipeline; Supinoxin (RX-5902), RX-3117 and Archexin, these are at various stages of clinical trials. Though the company does not have any current revenue streams, it had $15.5 million in cash and cash equivalents as on September 30, 2013. The company also completed a registered direct offering worth $5.3 million in October, 2013.
The Pipeline Products:
Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) has three products in pipeline, all are related to the treatment of various types of cancer and are in various stages of clinical research. The advantage with the company’s line of treatment is that they can be taken orally; currently most of the cures are in injectable form. The company has three main products under development; Supinoxin (RX-5902), RX-3117 and Archexin. Supinoxin (RX-5902)’s Phase –I trial is designed to evaluate the tolerability, safety, and the maximum dose required and is being conducted in three oncology centers. The phase-I clinical trials of RX-3117 are in advanced stages and the results have been encouraging. Rexahn has started initial discussions with licensing partners for this drug. The company has received FDA’s Orphan Drug Designation for metastatic renal cell carcinoma (RCC) for its third pipeline drug Archexin. The company is in discussions with key opinion leaders to design Phase IIa clinical trials for this drug.
There are two distinct differences between Rexahn Pharma and other biopharma companies:
- The company is not dependent on only one molecule or line of treatment.
- There is still sufficient cash present in the coffers to carry the company over two years.
Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) has gained the trust of both analysts as well as investors.
