Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) announced that it has been issued a patent from the United States Patent and Trademark Office (USPTO) covering RX-21101 for the targeted delivery of docetaxel directly into cancer tumor cells using a nano-polymer conjugate technology.
“We are pleased to expand our intellectual property covering our unique and innovative targeting technologies in preclinical development. RX-21101 is the first proof of concept candidate from our Nano-Polymer-Drug Conjugate Systems (NPDCS). Our nanotechnology drug conjugate candidates address the large and immediate market for widely used chemotherapies, and they are a complement to our portfolio of proprietary compounds currently in clinical development,” commented Rexahn’s CEO, Peter D. Suzdak, Ph.D.
RX-21101 is a nano-polymer conjugate with docetaxel bound to the polymer backbone together with a targeting moiety. The targeting moiety directs the bound drug to the cancer cell, thereby bypassing healthy cells leading to enhanced efficacy with the potential for reduced side effects. Once inside the cancer cell, the complex is metabolized yielding the free anticancer compound. It is the combination of the nano-polymer and the targeting moiety that makes Rexahn’s technology unique and increases the precision of delivery into the cancer cell. RX-21101 has been selected by the National Cancer Institute’s (NCI) Nanotechnology Characterization Laboratory for its preclinical development program in 2015.
In addition, Rexahn has issued patents covering other nano-polymer conjugate systems including the carboxypropyl-methacrylamide (CPMA) nano-polymer-drug conjugate platform which offers several major advantages over existing drug conjugate systems including the ability to target the delivery of anticancer agents to cancer cells, high water solubility, increased bioavailability and the flexibility to covalently bind multiple structurally diverse classes of compounds to its chemical backbone. Rexahn is actively pursuing other potential drug conjugate candidates with our CPMA platform for the treatment of solid tumors. (Original Source)
Shares of Rexahn are currently trading at $0.173, up $0.003 or 1.76%. RNN has a 1-year high of $0.52 and a 1-year low of $0.16. The stock’s 50-day moving average is $0.22 and its 200-day moving average is $0.26.
On the ratings front, FBR analyst Vernon Bernardino reiterated a Buy rating on RNN, with a price target of $3, in a report issued on October 10. The current price target represents a potential upside of 1664.7% from where the stock is currently trading. According to TipRanks.com, Bernardino has a yearly average loss of -17%, a 22% success rate, and is ranked #4063 out of 4197 analysts.
Rexahn Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company. It dedicates to the discovery, development and commercialization of innovative treatments for cancer and other medical needs. The company currently has three clinical stage oncology candidates, Archexin, RX-3117, and Supinoxin and a robust pipeline of preclinical compounds to treat multiple types of cancer. It has also developed proprietary drug discovery platform technologies in the areas of nano-medicines, 3D gold and times.