In May I wrote a PRO article on Rexahn (NYSEMKT:RNN) with a thesis stating that Rexahn's novel drug candidate, RX-3117, has shown enough potential in clinic to warrant a partnership, which could drive immediate shareholder value. This expectation was aligned with management's stated goal to acquire a partner for RX-3117 around mid 2014. Admittedly, however, my initial expectation was not met because no partnership for RX-3117 has been established. Furthermore, I argued that this compound, along with Rexahn's two other primary drug candidates, Supinoxin and Archexin, diversify Rexahn's risk profile, given that each program is being advanced concordantly, and thus the risk of failure of one program could be mitigated by the success of another. After the Q3 earnings event, I see no reason to modify my bull thesis, since R&D is on track to achieve important value driving catalysts, bolstered by a strong cash position that should provide enough runway into 2H 2016.
See full article at Seeking Alpha: http://seekingalpha.com/article/2694025-update-rexahn-q3-earnings-bull-thesis-reiterated
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