Rexahn Pharmaceuticals, Inc. (NYSE MKT:RNN), a clinical stage biopharmaceutical company developing best-in-class therapeutics for the treatment of cancer, today presents preclinical data on RX-3117 at the 2015 American Association for Cancer Research (AACR) Annual Meeting in Philadelphia. The presentation is entitled “Fluorocyclopentenylcytosine (RX-3117) is activated by uridine-cytidine kinase 2 (UCK2), a potential biomarker,” and is co-authored by Dr. G.J. Peters of the VU University Medical Center, Amsterdam, The Netherlands, and Rexahn scientists.
The present study demonstrates a correlation between the expression and enzymatic activity of UCK2 (the enzyme responsible for activating/phosphorylating RX-3117) and the ability of RX-3117 to inhibit the growth of various human cancer cells. “These data are important because they further confirm RX-3117’s cancer cell specific mechanism of action and the study further suggests that UCK2 expression can be used as a potential biomarker for patient selection into RX-3117 clinical trials,” commented Rexahn’s CEO, Peter D. Suzdak, Ph.D. “Beyond clinical trials, use of a specific biomarker enables Rexahn to offer personalized medicine by identifying which cancer patients may be most responsive to our treatments.”
Dr. Peters added, “RX-3117 represents a novel approach to specifically target solid tumors such as gemcitabine resistant pancreatic, lung and bladder cancers. The ability to determine the abundance of UCK2 in a tumor will enhance the design and outcome of the RX-3117 clinical program.”
RX-3117 is currently in a Phase Ib clinical trial in cancer patients with solid tumors with clinical data expected in the first half of 2015. (Original Source)
Shares of Rexahn opened today at $0.76 and are currently trading down at $0.7589. RNN has a 1-year high of $1.08 and a 1-year low of $0.65. The stock’s 50-day moving average is $0.74 and its 200-day moving average is $0.74.
On the ratings front, MLV & Co. analyst Vernon Bernardino initiated coverage with a Buy rating on RNN and a price target of $1.25, In a report issued on March 20. The current price target represents a potential upside of 64.5% from where the stock is currently trading, In a report issued on March 20. The current price target represents a potential upside of 64.5% from where the stock is currently trading
According to TipRanks.com, Bernardino has a total average return of -6.5%, a 37.3% success rate, and is ranked #3418 out of 3573 analysts.
Rexahn Pharmaceuticals Inc is a clinical stage biopharmaceutical company dedicated to the discovery, development and commercialization of treatments for cancer and other medical needs.