Rexahn Pharmaceuticals (RNN +9%) trades higher after the company said that Teva Pharmaceutical...
Wednesday, November 28, 2012, 12:53 PM ETRexahn Pharmaceuticals (RNN +9%) trades higher after the company said that Teva Pharmaceutical (TEVA -0.6%) will provide an additional $750K in funding to the company. Pursuant to the terms of an earlier agreementl, TEVA will purchase RNN's common stock at 120% of its closing price on the last trading day preceding the closing. TEVA has also agreed to commit additional research funding for development of RX-3117, a potential treatment for solid tumors including colon, lung and pancreatic cancers, and will retain the right to file the Investigational New Drug application with the FDA.
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