, one of the “must own” penny stocks for 2013 we covered at the end of 2012 has just come off 3 days of absolute explosiveness. Roth Capital Markets started coverage last week on RNN stock at a “Buy” rating, almost 1 year after we did when shares of the clinical stage biopharmaceutical company was trading at just 0.31. Having now gained as much as 482% at yesterday’s HOD, 404% as of the close, the $3 target could still bring on even more profits for AimHighers.
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RNN Stock Quote
Market Cap: 234.75M
Last: 1.60 ▲ +0.46 (40.35%)
Issued and Outstanding: 146,717,795
14-Day Rel Strength: 96.55%
1st Resistance Point: 1.83
1st Support Level: 1.39
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Rexahn Pharmaceuticals was one of the last penny stock picks of 2012 for us here and what a pick it was. Based on technicals fundamentals and straight prospecting that one of the company’s current drug candidates would see enough positive results in its early stage testing that money would begin flowing towards RNN.
Well, it took a bt longer than expected, but nw that Roth Capital has taken note of Rexahn’s Archexin, currently in mid-stage testing as a treatment for pancreatic cancer, RX-3117 and Supinoxin, both of which are currently being studied in early-stage trials, the cat being let out the bag has been a huge benefit for a large number of AimHighers who took the recommendation seriously. Sitting tight for a better than 400% gain with the ability to have thrown as much as $29,000 into the idea (as did one follower we know of) each time RNN dropped below 0.30, $100,000 in profits makes a ton more sense than $100 gain on a flash-in-the-pan day trade.
Rexahn helped their case for the recent surge by announcing last week that the initiation stage of a Phase Ib clinical trials to study the safety and efficacy of RX-3117 in cancer patients with solid tumors had begun. RX-3117, a next-generation cancer cell specific drug candidate that possesses a broad spectrum of anticancer activity with reduced side effects, is claimed to have demonstrated oral bioavailability, and safety and tolerability in cancer patients with solid tumors.
Rexahn may not have generated any sales yet, but with $14,871,000 in available cash as of their most recent Q filing and expenses which work out to $5,646,439 for the 9 months ended September 30, 2013, the Company is good shape to be able to stand strong before having to do too much more financing.
Another candidate which traders should be monitoring is AV Therapeutics, Inc. (AVTH). Shares of this wannabe cancer researcher just recently began trading and are rising up higher and higher on prepromotion radar screens now that AVTH stock is trading at $0.64.
About RNN Stock
Rexahn Pharmaceuticals, Inc. is a development stage biopharmaceutical company dedicated to the discovery, development and commercialization of innovative treatments for cancer and other medical needs.
Last 5 Trading Sessions:
January is typically the best month for biotech penny stocks and RNN has proven that theory to be true. AVTH stock should see a surge in volume in the coming sessions, but beware of that run – it will be sort lived and likely see some heavy selling when shares reach the $1 level.
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