Rexahn Pharmaceuticals, Inc. (NYSE MKT:RNN), a clinical stage biopharmaceutical company developing best-in-class therapeutics for the treatment of cancer, announced that its drug candidate RX-21101 was selected by the National Cancer Institute’s (NCI) Nanotechnology Characterization Laboratory (NCL) for its preclinical characterization program to help facilitate the advance of RX-21101 towards human clinical trials. RX-21101 is a polymer conjugated form of docetaxel that contains a signaling moiety which directs the drug into the tumor. This approach may maximize the level of docetaxel in the tumor and may minimize the level of freely circulating docetaxel in the body, which may result in increased anti-tumor activity and a reduction of adverse events.
NCI developed the NCL to facilitate the translation of promising nanotechnology-based therapeutics for the treatment of cancer, working in concert with the National Institute of Standards and Technology (NIST) and the U.S. Food and Drug Administration (FDA). NCL will conduct an extensive series of preclinical studies on RX-21101 including physiochemical characterization, in-vitro cytotoxicity/hematology/immunology studies, and in vivo rodent pharmacokinetic studies. These studies, together with the additional work being performed by Rexahn scientists, will provide the foundation for filing an investigational new drug (IND) application to start Phase I clinical testing.
“We are very pleased that NCI selected RX-21101 for its NCL program. We believe RX-21101 holds the potential to address the patient population currently being treated with docetaxel in a manner that offers higher efficacy with reduced systemic side effects. Rexahn welcomes the opportunity to work with NCI to advance RX-21101 toward clinical development,” commented Rexahn’s CEO, Peter D. Suzdak, Ph.D. (Original Source)
Shares of Rexahn Pharmaceuticals closed last Friday at $0.71 . RNN has a 1-year high of $1.04 and a 1-year low of $0.65. The stock’s 50-day moving average is $0.72 and its 200-day moving average is $0.73.
On the ratings front, Rexahn Pharmaceuticals has been the subject of a number of recent research reports. In a report issued on May 11, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on RNN, with a price target of $3, which implies an upside of 322.5% from current levels. Separately, on March 20, MLV & Co.’s Vernon Bernardino initiated coverage with a Buy rating on the stock and has a price target of $1.25.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joseph Pantginis and Vernon Bernardino have a total average return of 11.5% and -2.0% respectively. Pantginis has a success rate of 55.1% and is ranked #128 out of 3612 analysts, while Bernardino has a success rate of 47.4% and is ranked #3088.
Rexahn Pharmaceuticals Inc is a clinical stage biopharmaceutical company dedicated to the discovery, development and commercialization of treatments for cancer and other medical needs.