Rexahn Pharma shares rally more than 7% on news to explore strategic options [MarketWatch]
Rexahn Pharmaceuticals, Inc. (REXN)
Last rexahn pharmaceuticals, inc. earnings: 8/7 06:30 am
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Source: MarketWatch
Rexahn Pharma shares rally more than 7% on news to explore strategic options Rexahn Pharmaceuticals Inc. shares REXN, +0.00% rose more than 7% in premarket trade Tuesday, after the company said it has hired Oppenheimer & Co. Inc. to advise it on exploring its strategic options, including an acquisition, merger, reverse merger, sale of assets or other deal. The company said there is no guarantee that the process will result in a deal. In the meantime, to extend its resources, the clinical-stage biotech, which focuses on developing treatments for hard-to-treat cancers, is eliminating two positions, and expects to have just five employees by Oc. 1. The company expects its cash position to total $10 million to $12 million by year-end. Shares have fallen 80% in 2019, while the S&P 500 SPX, -0.01% has gained 19%.
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