Boston, MA 01\/15\/2013 (wallstreetpr) – After continuously recording a gain for consecutive trading sessions, the shares of Rexahn Pharmaceuticals, Inc.\u00a0(NYSEMKT:RNN)\u00a0shed\u00a0 more than 27% of the gains on Tuesday. The stock closed at $1.16 after loosing 44 cents in value.<\/p>\n
Soared High On Analysts Note<\/b><\/p>\n
The stock has recorded gains of as much as 150% in the previous three trading sessions on account of positive feedback from the Roth Capital Markets analysts. The analyst, Joe Pantiginis said in his note that the company is perceived as much more focused and re-tooled now,with a clear objective to develop cancer drugs. The action supporting the analysis is the price target raised to $3 for the company and being assigned a \u2018Buy\u2019 rating.<\/p>\n
Lost Due To Profit Taking<\/b><\/p>\n
However, the huge gains soon enough melted away post the company\u2019s announcement of starting a clinical Phase-II study of its drug, Archexin. On Tuesday, the company stated that it is pursuing a \u00a0PhaseIIa clinical trial of Archexin in order to study its safety and efficacy. The drug, Archexin,which acts as a specific inhibitor to cancer cells, will be tested in patients with medical conditions of metastatic renal cell carcinoma (RCC). A detailed analysis of the Metastatic RCC indicates an expanding market opportunity, as the number of patients with the condition are reported to be 90,000 globally, which means\u00a0 a huge market size of $6 billion. Reports further highlight that the patients of Metastatic RCC, who receive standard care treatment often have a poor survival ratio, which is less than 2 years. It is to be noted that the drug\u00a0 has already\u00a0 received U.S. Food and Drug administration\u2019s (FDA) grant of Orphan Drug Designation for the metastatic RCC indication along with four other types of cancers, which includes pancreatic cancer.<\/p>\n
Therefore, mostly seen as headstrong in its drug trials, Rexahn looks interesting and the loss during the last trading session is largely seen as an outcome of profit booking by the investors.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 01\/15\/2013 (wallstreetpr) – After continuously recording a gain for consecutive trading sessions, the shares of Rexahn Pharmaceuticals, Inc.\u00a0(NYSEMKT:RNN)\u00a0shed\u00a0 more than 27% of the […]<\/p>\n","protected":false},"author":15,"featured_media":13605,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[4343,4342],"stock_ticker":[],"class_list":["post-13604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-nysemktrnn","tag-rexahn-pharmaceuticals-inc-nysemktrnn","entry"],"acf":[],"yoast_head":"\n