REXAHN'S HOT AUGUST HITS $10M MARK
Rexahn Pharmaceuticals raised nearly $10 million this month, and company execs want to add even more cash to their coffers before the year ends. The small Rockville biotech company, which has secured a total of $13.5 million this year, needs money to fund ongoing clinical and preclinical work. "[Biotech] companies raise capital forever," says George Steinfels, Rexahn's chief business officer and senior vice president of clinical development. "That's the basis of the business."
Washington Business Journal (http://www.bizjournals.com/washington/stories/2005/08/22/story7.html?from_rss=1)