Replies to post #10455 on Loss to Profit, let's make your lost money back !

[saigai]

hey read ths RNN teva has 50 billion mkt cap

Pharmaceutical Increases Its Investment in Rexahn for the Continued Research and Development of the Pre-Clinical Anti-Cancer Compound, RX-3117
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Companies:Rexahn Pharmaceuticals, Inc. Co.Related Quotes
Symbol Price Change
RNN 1.22 0.00


{"s" : "rnn","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Press Release Source: Rexahn Pharmaceuticals, Inc. On Thursday January 20, 2011, 8:00 am EST

ROCKVILLE, Md.--(BUSINESS WIRE)-- Rexahn Pharmaceuticals, Inc. (NYSE Amex:RNN), a clinical stage pharmaceutical company commercializing potential best in class oncology and central nervous system (CNS) therapeutics, announced that Teva Pharmaceutical Industries Limited (Teva) purchased 2,334,515 shares of Rexahn’s common stock in a private offering for $3.95 million, or $1.692 per share. This investment by Teva was made pursuant to the terms of the Securities Purchase Agreement, dated June 26, 2009, as amended. The investment money will be used for the purpose of supporting the research and development program for the pre-clinical stage, anti-cancer compound RX-3117. After this transaction, Teva will own 6.29% of the outstanding shares of Rexahn.



“We are excited by Teva’s increased commitment to this collaboration and the development of RX-3117,” said Dr. Chang Ahn, Rexahn’s Chairman and Chief Executive Officer. “We are also pleased with RX-3117’s development to date, and we are working to advance the compound into clinical trials in 2011.”



About RX-3117



RX-3117 is a small molecule, new chemical entity (NCE), nucleoside compound that inhibits DNA methyltransferase, a cyclin-dependent kinase, and DNA synthesis. Potential indications of RX-3117 are solid tumors including colon, lung and pancreatic cancers. RX-3117 has demonstrated its ability to overcome cancer drug resistance in cancer cells, in particular, gemcitabine-resistance in the human lung cancer cell. Rexahn owns the U.S. patent for RX-3117, which claims composition of matter, synthesis, and methods (2008).