Rexahn Pharmaceuticals Streamlines Operations and Provides Update on Pipeline

Rexahn Pharmaceuticals (NYSE:RNN), a clinical stage biopharmaceutical company developing innovative therapies to improve patient outcomes in cancers that are difficult to treat, today announced an operational restructuring that will enable a more efficient development of its clinical-stage oncology pipeline.

As quoted in the press release:

Rexahn is lowering its operating costs including eliminating six positions, reducing the company’s workforce to 10. “In order to maximize shareholder value, we are prioritizing our resource utilization, including by reducing overhead expenses and discretionary spending,” said Douglas Swirsky, president and chief executive officer of Rexahn. “These cost reductions are expected to extend our operating runway into the fourth quarter of 2019 and provide further savings in 2020 and beyond. We have retained capabilities to continue the development of RX-3117 and RX-5902 as we explore opportunities to extract full value from these programs.”

The company intends to primarily focus its near-term efforts on the ongoing Phase 2 clinical trial of RX-3117 in combination with ABRAXANE® (nab-paclitaxel) in patients newly diagnosed with metastatic pancreatic cancer. Encouraging preliminary safety and efficacy data from this trial was presented in October at the 5th NCI Pancreatic Cancer Symposium. Updated data from this study will be presented at the American Society of Clinical Oncology Annual Gastrointestinal Cancers Symposium (ASCO-GI) being held January 17-19, 2019 in San Francisco, CA.

Click here to read the full press release.