Rexahn Pharmaceuticals, Inc. (NYSE MKT:RNN), a clinical stage biopharmaceutical company developing best-in-class therapeutics for the treatment of cancer, announced that it was issued patent number 5749273 from the Japanese Patent Office entitled “Polymeric Systems for the Delivery of Anticancer Drugs” for the Company’s novel CPMA drug delivery platform. This new CPMA drug delivery platform technology, developed by Rexahn, enables more precise, targeted delivery of anti-cancer drugs directly into cancer cells.
“There is a significant unmet need in the oncology field for drugs which selectively target and kill cancer cells while sparing normal, healthy cells. By utilizing our proprietary CPMA polymer drug delivery technology and combining it with currently approved anti-cancer drugs, we hope to transport anti-cancer drugs directly into cancerous cells where their cytotoxic activity can be most effective, thereby increasing efficacy and minimizing the harmful side effects associated with traditional cancer therapy,” said Dr. Peter D. Suzdak, Chief Executive Officer. “Rexahn Pharmaceuticals is pleased to be at the forefront of the development of novel, targeted approaches to cancer treatment, which could yield meaningful improvements in quality of life for cancer patients.”
Dr. Suzdak continued, “Rexahn remains committed to ensuring the strongest possible intellectual property protection for our proprietary anti-cancer programs and platform technologies. We are pleased to be issued this latest patent, which expands our intellectual property estate and extends intellectual property protection for the CPMA platform.” (Original Source)
Shares of Rexahn Pharmaceuticals closed yesterday at $0.56. RNN has a 1-year high of $0.96 and a 1-year low of $0.55. The stock’s 50-day moving average is $0.67 and its 200-day moving average is $0.72.
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 435.7% 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 9.3% and -4.1% respectively. Pantginis has a success rate of 53.5% and is ranked #203 out of 3702 analysts, while Bernardino has a success rate of 40.6% and is ranked #3356.
Rexahn Pharmaceuticals Inc is a clinical stage biopharmaceutical company dedicated to the discovery, development and commercialization of treatments for cancer and other medical needs.