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RNN > SEC Filings for RNN > Form 8-K on 27-Nov-2012All Recent SEC Filings

Show all filings for REXAHN PHARMACEUTICALS, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for REXAHN PHARMACEUTICALS, INC.


27-Nov-2012

Entry into a Material Definitive Agreement, Other Events, Financial


Item 1.01 Entry Into a Material Definitive Agreement.

On November 27, 2012, Rexahn Pharmaceuticals, Inc. ("Rexahn") and Teva Pharmaceutical Industries Limited, a limited liability company organized under the laws of Israel ("Teva"), entered into a second amendment ("Second Amendment") to the Research and Exclusive License Option Agreement, dated June 26, 2009, as amended (the "RELO Agreement"). Pursuant to the terms of the Second Amendment, Teva has agreed (i) to provide Rexahn with an additional $926,000 of research funding in Rexahn's development of RX-3117, an anti-cancer compound for which Rexahn owns the U.S. patent, and (ii) to conduct additional research and development work for RX-3117 on Rexahn's behalf pursuant to the terms of a second amendment to the Services Agreement, dated February 4, 2010, as amended (the "Services Agreement"). The Second Amendment also gives Teva the right to file the investigational new drug (the "IND") application for RX-3117 with the U.S. Food and Drug Administration, as well as any other regulatory filings required before or associated with the IND filing.

A copy of to the Second Amendment is filed as Exhibit 10.1 to this current report on Form 8-K, the contents of which are incorporated herein by reference.



Item 8.01 Other Events.

Teva and Rexahn agreed that Teva will exercise the option to purchase $750,000 of Rexahn's common stock at 120% of closing market share price on or around December 7, 2012, one day prior to the expected closing date. This will constitute the third and final closing agreed to in the Securities Purchase Agreement, dated June 26, 2009, as amended with Teva (the "Purchase agreement") for the purpose of supporting the research and development program for the compound RX-3117.

The shares of Rexahn common stock to be purchased by Teva pursuant the Purchase Agreement will be issued pursuant to the exemption from the registration requirements of the Securities Act of 1933, as amended, afforded by Section 4(2) thereof, as a transaction to an accredited investor not involving a public offering. Pursuant to the Purchase Agreement, Rexahn granted Teva certain piggyback registration rights with respect to the shares of Rexahn common stock it purchases pursuant to the Purchase Agreement, which Teva may exercise in the future.



Item 9.01 Financial Statements and Exhibits.

The following exhibits are filed herewith.

Exhibit      Description

 10.1        Amendment No. 2 to the Research and Exclusive License Option
             Agreement, dated November 27, 2012, by and between Rexahn
             Pharmaceuticals, Inc. and Teva Pharmaceutical Industries Limited.


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