Proactiveinvestors recommends
Additional Information
Market: AMEX
Sector: Pharmaceuticals & Biotechnology
EPIC: RNN
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Rexahn Pharmaceuticals
www.rexahn.com

Rexahn’s goal is to be a world-class biopharmaceutical company developing and delivering novel cures for cancer and disorders of the central nervous system (CNS) to patients worldwide. Leveraging a powerful, multi-faceted discovery engine consisting of small signaling molecule discovery, computational modeling and nanotechnology-based drug targeting and delivery, we believe that we are well on our way to achieving our goal.

Full Rexahn Pharmaceuticals profile here
Is RNN a Buy, Sell or Hold?Get your FREE analysis of RNN
Pdf

Rexahn Pharmaceuticals receives more than $800,000 in US govt grants for projects

5th Nov 2010, 11:13 am

Rexahn Pharmaceuticals (NYSE Amex:RNN) said Thursday it has been awarded US government grants totaling more than $822,000 for the company's drug projects.

The grants were awarded as part of a program under the Patient Protection and Affordable Care Act of 2010, designed to provide tax credits or grants to biotechnology companies with no more than 250 employees for expenses related to a medical development project.

"We are very pleased to receive the grants for all four applications we submitted. The award will further strengthen Rexahn's financial position as we advance our drug development projects for cancers, depression, and erectile dysfunction," said president and COO Rick Soni.

The program targeted projects that showed potential to produce new therapies to treat areas of unmet medical need or chronic or acute diseases, as well as reduce long-term health care costs in the United States.

The grants are meant to reimburse up to 50% of investments in qualifying projects in 2009 and 2010.

Rexahn currently has three drug candidates in phase II clinical trials: Archexin for pancreatic cancer, Serdaxin for depression, and Zoraxel for erectile dysfunction. The company is also developing a drug delivery system for cancer, which works to target cancer cells to avoid damage to healthy tissue.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.