More on Rexahn Q1 results and pipeline update

|About: Rexahn Pharmaceuticals... (RNN)|By:, SA News Editor

Shares of nano cap Rexahn Pharmaceuticals (RNN +18.1%) spike on average volume in response to its financial report this morning.

Cash position: $40.3M; cash burn: ($2.6M). Management believes its current cash position will be sufficient to fund operations into 1H 2016.

Initial results from Phase 1 clinical trial of Supinoxin. No maximum tolerated dose identified in the three dosing cycles (25, 50, 100 mg). A fourth dosing cycle (150 mg) is ongoing. The drug displays dose-proportional exposure and an estimated oral bioavailability of 51%.

Patient enrollment in the Phase 1b trial of RX-3117 expected to conclude in Q4 or early next year. One dosing cycle (30 mg) is complete and the second (100 mg) is in process.

Patient enrollment in the Phase 2a trial for the Orphan Drug-Designated Archexin continues. Initial safety data available in Q4.