On The Fly: After Hours Movers UP AFTER EARNINGS: Jabil Circuit (JBL), up 3.8% after reporting fourth quarter results and fiscal 2015 guidance. ALSO HIGHER: Rexahn Pharmaceuticals (RNN), up 11.8% after announcing that the FDA has granted Orphan Drug Designation for its drug RX-3117 for the treatment of patients with pancreatic cancer... xG Technology (XGTI), up 7.8% after announcing stock purchase agreements for up to $16M... Marchex (MCHX), up 2.1% after receiving notice of termination from Allstate (ALL). DOWN AFTER EARNINGS: HB Fuller (FUL), down 11.3% after reporting second quarter results and guidance below analyst estimates.
Rexahn receives FDA orphan drug designation for RX-3117 Rexahn Pharmaceuticals announced that the FDA has granted Orphan Drug Designation for its drug RX-3117 for the treatment of patients with pancreatic cancer. RX-3117 is a next generation, cancer-specific nucleoside analog. Rexahn is currently enrolling patients in a Phase Ib clinical trial in cancer patients and expects to complete this trial in Q1. Preclinical studies have shown that RX-3117 maintains its anti-tumor activity in human cancer cell lines that are resistant to gemcitabine, a chemotherapy drug used to treat pancreatic cancer. Gemcitabine resistance represents a major problem in the treatment of cancer patients. In pancreatic cancer patients who have been treated with gemcitabine, up to 40% of patients became resistant to gemcitabine after 30 days.