Teva opts out of Rexahn's tumor drug candidate

Over the past few years, Rexahn ($RNN) has regularly cited its development pact with Teva ($TEVA) for a preclinical tumor drug dubbed RX-3117 as a cause for hope in the little biotech's future. Today, Rexahn issued word that Teva had nipped that one in the bud, choosing not to exercise its option for the therapy as it neared the clinic. Report