----

**Exhibit        31.1**

**CERTIFICATION**

| 1. | I                  have reviewed this annual report on Form 10-KSB of Rexahn Pharmaceuticals,                  Inc.; |
|----|----------------------------------------------------------------------------------------------------------------------|

| 2. | Based                  on my knowledge, this annual report does not contain any untrue                  statement                  of a material fact or omit to state a material fact necessary to                  make the                  statements made, in light of the circumstances under which such                  statements                  were made, not misleading with respect to the period covered by                  this                  annual report; |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Based                  on my knowledge, the financial statements, and other financial                  information                  included in this annual report, fairly present in all material                  respects                  the financial condition, results of operations and cash flows of                  the small                  business issuer as of, and for, the periods presented in this annual                  report; |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | The                  small business issuer's other certifying officer and I are responsible                  for                  establishing and maintaining disclosure controls and procedures                  (as                  defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the                  small                  business issuer and have: |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | The                  small business issuer's other certifying officer and I have disclosed,                  based on our most recent evaluation of internal control over financial                  reporting, to the small business issuer's auditors and the audit                  committee                  of the small business issuer's board of directors (or persons performing                  the equivalent functions): |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Dated:                  March 31, 2006   |
|------------------------------------------|
|                                     |   |
|                                     |   |
| /s/                  Chang H. Ahn        |   |
| Chang                  H. Ahn            |
| Chief                  Executive Officer |

----