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Rexahn to raise $10M in registered direct offering

Rexahn Pharmaceuticals Inc. announced a $10 million registered direct offering with institutional investors to advance three anti-cancer compounds: RX-3117, Supinoxin and Archexin.

The company will issue 3,030,000 shares priced at $3.30 apiece, complete with warrants to buy up to an additional 1,520,000 shares for $4 per share within five years from the date of issue.

Rodman & Renshaw is the exclusive placement agent for the offering, which is expected to close by June 12.