In Q1 2017, Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) displayed preclinical statistics of RX-3117 at the most renowned event – the “American Academy of Cancer Research”. The poster presentation threw light on the prospective application of uridine cytidine kinase II as a biomarker to predict which subjects are likely to respond to RX-3117.
The firm said that it has received approval for presenting preliminary report from its Phase IIa trial in progressed and metastatic bladder cancer at the ASCO meeting to be held on June 4, 2017.
Rexahn mentioned that Supinoxin™ completed the Phase I dose escalation trial in subjects suffering with different solid tumors. It has also finalized the dose for next phase of trial. In the trial, the administered drug was well tolerated, and also the dose-limiting toxicity was moderate fatigue.
The firm has started the Phase IIa trial of ‘Supinoxin’ monotherapy in folks with metastatic triple negative breast cancer.
Earlier in May, Rexahn closed a reverse stock split process, which was planned for improving the appeal of the firm’s equity amongst the financial community. It wants the stock to become a known name for small as well as big investors.
As of the completion of March 2017, the firm posted cash/investments of $18.5 million versus around $20.3 million in the preceding quarter. Later the firm obtained cash of almost $3 million from the stock warrants.
The drop in cash/investments in the quarter completed March 2017 was due to cash utilized in different operating activities, partially counterbalanced by proceeds registered from stock warrant exercises. Rexahn projects that its prevailing status of cash/investments is adequate to fund the capital requirements for ongoing activities into mid-2018.
In the last trading session, the stock price of declined more than 1% to close the day at $3.99. After the last decline, the market cap of firms stands around $100 million.