Rexahn Pharmaceuticals, Inc ( AMEX: RNN ) Submits an Investigational New Drug Application to the FDA for First-in-Class p68 Helicase Inhibitor, RX-5902. Stock jumped more than 15 % and trading at $0.63. It has gained more than 80% in last three trading session. There was no official announcements regarding any developments from company. Stock might see more upside in near future, Traders might track the penny stock which might explode soon.

Rexahn Pharmaceuticals, Inc. (NYSE Amex: RNN), a clinical stage pharmaceutical company developing and commercializing potential best in class oncology and CNS therapeutics, today announced that it has submitted an investigational new drug application (IND) to the Food and Drug Administration for a first-in-human study of RX-5902 to treat advanced or metastatic solid tumors. RX-5902 is a first-in-class small molecule that inhibits the phosphorylated p68 RNA helicase, a protein that plays a key role in cancer growth, progression and metastasis. The phosphorylated form of p68 RNA helicase is only present in cancer cells and is absent in normal cells.

“RX-5902 is an exciting first-in-class p68 RNA helicase inhibitor that has considerable commercial potential,” said Rick Soni, President of Rexahn. “Pre-clinical studies have shown that RX-5902 exhibits very potent anti-tumor activity in various cancers including melanoma, renal, ovarian and pancreatic. Additional studies suggest that RX-5902 is effective in drug-resistant cancer cells and is synergistic when combined with current cancer drugs.” Rexahn Pharmaceuticals, Inc. (Rexahn) is a clinical stage biopharmaceutical company developing and seeking to deliver cures for cancer and disorders of the central nervous system (CNS) to patients worldwide. Rexahn’s pipeline features three drug candidates in Phase II clinical trials and seven or more other drug candidates in pre-clinical development. Rexahn has three clinical stage drug candidates: Archexin, Serdaxin, and Zoraxel. Archexin, is a inhibitor of the protein kinase Akt. Archexin is developed for five cancer indications (renal cell carcinoma (RCC), glioblastoma, ovarian cancer, stomach cancer and pancreatic cancer). Its products in the pre-clinical pipeline include RX-1792, RX-5902, RX-3117, RX-8243, RX-0201, RX-0047, RX-21101 and RX-21202