Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * Ahn Chang Ho	2. Issuer Name and Ticker or Trading Symbol REXAHN PHARMACEUTICALS, INC. [ RNN ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __ X __ Director                      _____ 10% Owner _____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle) C/O REXAHN PHARMACEUTICALS, INC., 15245 SHADY GROVE ROAD, SUITE 455	3. Date of Earliest Transaction (MM/DD/YYYY) 1/8/2015
(Street) ROCKVILLE, MD 20850 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	1/8/2015		M		80000	A	$0.80	6090000	D
Common Stock	1/8/2015		S (1)		80000	D	$0.9004   (2)	6010000	D
Common Stock	1/9/2015		M		186212	A	$0.80	6196212	D
Common Stock	1/9/2015		S (1)		186212	D	$0.9155   (3)	6010000	D
Common Stock	1/12/2015		M		48444	A	$0.80	6058444	D
Common Stock	1/12/2015		S (1)		48444	D	$0.9137   (4)	6010000	D
Common Stock								500000	I	By spouse   (5)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to purchase)	$0.80	1/8/2015		M			80000	(6)	1/20/2015	Common Stock	80000	$0	783807	D
Stock Option (right to purchase)	$0.80	1/9/2015		M			186212	(6)	1/20/2015	Common Stock	186212	$0	597595	D
Stock Option (right to purchase)	$0.80	1/12/2015		M			48444	(6)	1/20/2015	Common Stock	48444	$0	549151	D

Explanation of Responses:
( 1)	The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
( 2)	The price of $0.9004 per share represents a weighted average of sales prices from $0.90 to $0.9098 per share. The reporting person undertakes to provide upon request of the Commission staff, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price.
( 3)	The price of $0.9155 per share represents a weighted average of sales prices from $0.90 to $0.945 per share. The reporting person undertakes to provide upon request of the Commission staff, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price.
( 4)	The price of $0.9137 per share represents a weighted average of sales prices from $0.90 to $0.9351 per share. The reporting person undertakes to provide upon request of the Commission staff, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price.
( 5)	The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
( 6)	Options vested and became exercisable based on the following schedule: 300,000 on January 20, 2006, 300,000 on January 20, 2007, and 400,000 on January 20, 2008.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Ahn Chang Ho C/O REXAHN PHARMACEUTICALS, INC. 15245 SHADY GROVE ROAD, SUITE 455 ROCKVILLE, MD 20850	X

Signatures
/s/ Tae Heum Jeong, as attorney-in-fact for Chang Ho Ahn		1/12/2015
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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