Item 1.02 Termination of a Material Definitive Agreement.
On April 7, 2020, Rexahn Pharmaceuticals, Inc. (the "Company") notified Merck
Sharp & Dohme B.V. ("Merck") that it was terminating the Clinical Trial
Collaboration and Supply Agreement (the "Collaboration Agreement"), dated as of
August 16, 2018, by and between the Company and Merck, effective immediately, in
connection with the Company's determination to discontinue development of
RX-5902 for the treatment of metastatic triple negative breast cancer ("TNBC").
The Company and Merck had entered into the Collaboration Agreement to evaluate
the combination of RX-5902 and Merck's anti-PD-1 therapy, KEYTRUDA®
(pembrolizumab) in a Phase 2 clinical trial in patients with metastatic TNBC.
The Company had previously disclosed that it was evaluating the development
strategy for RX-5902, including whether to proceed with the trial.
The description of the terms of the Collaboration Agreement included under Item
1.01 of the Company's Current Report on Form 8-K filed on August 21, 2018 is
incorporated herein by reference.
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