Nano cap biotech Rexahn Pharmaceuticals (RNN) enjoys a pop in today's trading. Shares have eased a bit from the intraday high of $1.47, but are still up ~9% at $1.36.
The firm disclosed initial results from its Phase 1 clinical trial of Supinoxin (RX-5902). Three patients have received two - six cycles of treatment. All doses were well tolerated.
Some observers perceive the action as proof of investors' overexuberance with all things biotech.