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Rexahn Pharmaceuticals, Inc.(NYSEMKT:RNN) shares gained 10.57% to $1.14. The company on Jan. 15 announced it has agreed to sell $20 million of units in a registered direct offering at a price of $1.05 per unit. Each unit consists of one share of common stock and a five year warrant to purchase 0.25 of a share of common stock at an exercise price of $1.28 per share. In the offering, Rexahn will issue approximately 19.05 million shares of its common stock and warrants exercisable for up to approximately 4.76 million shares of its common stock for aggregate gross proceeds of $20 million. The closing of the offering is expected to take place on or about January 21, 2014, subject to the satisfaction of customary closing conditions.
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Sarepta Therapeutics Inc(NASDAQ:SRPT) shares jumped 30.63% to $26.10. The company on Jan. 15 announced data through Week 120 from Study 202, a Phase IIb open-label extension study of eteplirsen in patients with Duchenne muscular dystrophy (DMD). Results through more than two years showed a continued stabilization of walking ability in eteplirsen-treated patients evaluable on the 6-minute walk test (6MWT). As previously reported, Study 202 met its primary endpoint of increased novel dystrophin as assessed by muscle biopsy at Week 48 and is now in the long-term extension phase in which patients continue to be followed for safety and clinical outcomes.
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and XDrive.
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Zoom Technologies Inc(NASDAQ:ZOOM) shares surged 35.17% to $5.81. On January 13, 2014, Zoom Technologies, Inc. (ZOOM) (the “Company”) entered into a Letter of Intent (the “LOI”) with Tinho Union Holding Group (“Tinho”) to acquire all the outstanding shares of Tinho by issuing approximately 9.4 million new shares of the Company’s common stock at a valuation of $8.6505 per share to the shareholders of Tinho (the “Transaction”). Upon closing of the Transaction, the current shareholders of Tinho would own approximately 75% of Zoom’s ownership interest.
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Sarepta Therapeutics Inc(NASDAQ:SRPT) shares jumped 16.22% to $23.87. The company on Jan. 15 announced data through Week 120 from Study 202, a Phase IIb open-label extension study of eteplirsen in patients with Duchenne muscular dystrophy (DMD). Results through more than two years showed a continued stabilization of walking ability in eteplirsen-treated patients evaluable on the 6-minute walk test (6MWT). As previously reported, Study 202 met its primary endpoint of increased novel dystrophin as assessed by muscle biopsy at Week 48 and is now in the long-term extension phase in which patients continue to be followed for safety and clinical outcomes.
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