real-time news and commentary for investors
Wednesday, Nov 28
2012, 12:53 PM
Rexahn Pharmaceuticals (RNN +9%) trades higher after the company said that Teva Pharmaceutical...
Rexahn 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.