Rexahn Pharmaceuticals (RNN) Continues to Spike on Potential Cancer Pill, Roth Upgrade

Joel Anderson |

Shares in Rexahn Pharmaceuticals (RNN) jumped nearly 40 percent on Monday, continuing a bull-run that has the stock up over 150 percent since Thursday and over 265 percent in the last month on a promising potential cancer treatment and the initiation of relatively bullish coverage from Roth Capital Markets analysts.

RNN’s RX-3117 Could be Alternative for Eli Lilly’s Gemzar

Driving the current growth-spurt is the announcement of the initation of Phase 1b to study the safety and efficacy of RX-3117, Rexahn’s lead drug candidate, in cancer patients with solid tumors. The hype surrounding RX-3117 is considerable given that it has to potential to function as an oral to Eli Lilly’s (LLY) Gemzar.

"The initiation of this Phase I clinical trial of RX-3117 represents an important milestone for Rexahn," said CEO Peter D. Suzdak, Ph.D. "This compound is exciting to work with, as it has a unique profile with demonstrated activity against gemcitabine-resistant human cancer cells. We were pleased to see reduced side effect liability and oral bioavailability in cancer patients in our initial exploratory Phase I clinical trial conducted in Europe, and we believe that RX-3117 may represent a significant advancement in the treatment of cancer patients with solid tumors."

Gemzar is an injectable drug that results in resistance for 1 out of 4 patients, making an alternative that functions in pill form one with considerable commercial potential.

Analyst Seems Convinced

Also helping boost shares over the past few days was the news from Thursday that Roth Capital Markets’ Joe Pantiginis had initiated coverage on the stock at a “buy” rating with a price target of $3, still nearly double the current share price even after the spike in price.

Along with the considerable potential for RX-3117, the company boasts nearly $15 million in cash as well as over $5 million in new funding, giving it enough money to carry it for two years.

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
RNN Rexahn Pharmaceuticals Inc. 0.17 0.01 3.48 257,991
LLY Eli Lilly and Company 66.79 -0.59 -0.88 2,053,633
CCOHF China State Construction International Holdings Lt 1.59 0.00 0.00 0

Comments

Emerging Growth

Reliq Health Technologies Inc.

Moseda Technologies Inc provides mobile and IT cloud computing to increase operational efficiency and security. It develops SmartFleet, a solution designed for commercial use, as well as SmartCare, a mHealth…

Private Markets

BioSculpture Technology, Inc.

BioSculpture Technology, Inc. (“BST”) is a commercial-stage medical device manufacturer of liposuction surgical instruments for surgeons. It offers the FDA-cleared Twin Cannula Assisted Liposuction ("TCAL") Airbrush Liposculptor II® controllers, Airbrush®…

Initial State

Initial State is an Internet of Things (IoT) data analytics & data management platform company. We turn sensor and event data into information that matters by making it easy to…