ROCKVILLE, Md. -- (BUSINESS WIRE) -- Rexahn Pharmaceuticals, Inc. (NYSE MKT: RNN), a clinical stage biopharmaceutical company focused on developing first in class therapies for the treatment of cancer, today provided an update on its strategic business goals for 2013.
“I am pleased to report that Rexahn is positioned to achieve significant strategic milestones in 2013. The infusion of $9 million from our recently completed public offering and research funding from Teva Pharmaceuticals for RX-3117 will enable the company to accelerate the clinical development of Archexin, RX-3117, and RX-5902, while advancing three pre-clinical compounds closer to clinical development,” said Peter D. Suzdak, Ph.D., CEO of Rexahn. “Our anticipated clinical and pre-clinical development progress will both increase shareholder value and support our strategic partnering efforts,” added Dr. Suzdak.
Rexahn Goals for 2013:
About Rexahn Pharmaceuticals, Inc.
Rexahn Pharmaceuticals is a clinical stage biopharmaceutical company dedicated to developing and commercializing first in class therapeutics for the treatment of cancer and other unmet medical needs. Rexahn currently has three clinical stage oncology candidates, Archexin®, RX-3117, and RX-5902 and a robust pipeline of preclinical compounds to treat multiple types of cancer. Rexahn has also developed proprietary drug discovery platform technologies in the areas of nano-medicines, 3D-GOLD, and TIMES. For more information, please visit www.rexahn.com.
To the extent any statements made in this press release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about Rexahn's plans, objectives, expectations and intentions with respect to future operations and products and other statements identified by words such as "will," "potential," "could," "can," "believe," "intends," "continue," "plans," "expects," "anticipates," "estimates," "may," other words of similar meaning or the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause Rexahn's actual results to be materially different than those expressed in or implied by Rexahn's forward-looking statements. For Rexahn, particular uncertainties and risks include, among others, the difficulty of developing pharmaceutical products, obtaining regulatory and other approvals and achieving market acceptance; the marketing success of Rexahn's licensees or sublicensees; the success of clinical testing; and Rexahn's need for and ability to obtain additional financing. More detailed information on these and additional factors that could affect Rexahn's actual results are described in Rexahn's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. All forward-looking statements in this news release speak only as of the date of this news release. Rexahn undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.