Rexahn Pharmaceuticals, Inc. (NYSE MKT:RNN), a clinical stage biopharmaceutical company developing best-in-class therapeutics for the treatment of cancer, announced that Dr. Godefridus Peters of the VU University Medical Center, Amsterdam, The Netherlands is presenting an abstract entitled, “Concentration and cell line dependent effects of fluorocyclopentenylcytosine (RX-3117) in non-small cell lung cancer cells,” at the 16thInternational Symposium of the Purine and Pyrimidine Society at Columbia University in New York on June 9, 2015. The abstract is co-authored together with Rexahn scientists.
“In the present study, RX-3117 was shown to potently affect cell cycle regulation and induce apoptotic cell death in human non-small cell lung cancer (NSCLC) cell lines including alveolar carcinoma, adenocarcinoma and large cell carcinoma. This mechanism of action, and degree of efficacy, by RX-3117 holds promise for the treatment of NSCLC patients,” commented Dr. Peters.
“NSCLC is the leading cause of cancer death among both men and women with approximately 1.36 million newly diagnosed patients worldwide each year and a five year survival rate of less than 14% in patients with stage III NSCLC. The activity seen in the present study suggests that RX-3117 may be useful in treating this patient population,” added Rexahn’s CEO Peter D. Suzdak, Ph.D.
RX-3117 is currently in a Phase Ib clinical trial in cancer patients with solid tumors. RX-3117 has been shown to be safe and very well tolerated at the doses tested to date. As a result, RX-3117 is being dose-escalated to higher doses than originally anticipated. The ongoing Phase Ib clinical trial is expected to be completed once the maximum tolerated dose (MTD) has been achieved, which the company anticipates being in mid-2015. (Original Source)
Shares of Rexahn Pharmaceuticals closed yesterday at $0.69 . 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 represents a potential upside of 334.8% from where the stock is currently trading. 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 -2.3% respectively. Pantginis has a success rate of 55.1% and is ranked #118 out of 3614 analysts, while Bernardino has a success rate of 47.4% and is ranked #3121.
Rexahn Pharmaceuticals Inc is a clinical stage biopharmaceutical company dedicated to the discovery, development and commercialization of treatments for cancer and other medical needs.