Rexahn Pharmaceuticals, Inc. plans to raise about $8 million via a registered direct offering of 3.27 million shares at $2.45 apiece.

The shares will come bundled with a total of 1.63 million warrants to buy an additional stock at $2.85 apiece.

The offering is expected to close by Oct. 17 and will help raise funds for the continued development of the company's product pipeline, including RX-3117 and RX-5902.

H.C. Wainwright & Co. LLC is acting as the exclusive placement agent for the offering.