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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.
Comments (2)
  • Gee, I'm stunned! The market (TEVA -0.6%) doesn't share TEVA's enthusiasm over the deal!
    28 Nov 2012, 01:15 PM Reply Like
  • TEVA will only be a PLUS too RNN - in other words "Its all a good thing!" Market really hasnt adjusted the stock price to the news. Albiet the news isnt stellar or earth shaking but lets not underestimate the upward movement of PPS RNN will undoubtedly have in the coming week. RNN is a very cheap stock for wha she posses in her pipeline and obviously TEVA agrees or they wouldnt be along side RNN .
    28 Nov 2012, 03:46 PM Reply Like
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