13G Filing: Sabby Capital Opens Large Position in Rexahn Pharmaceuticals, Inc. (RNN)

1.
NAME OF REPORTING PERSONS

Sabby Volatility Warrant Master Fund, Ltd.

2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) [_]

(b) [X]

3.
SEC USE ONLY

4.
CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

5.
SOLE VOTING POWER

0

6.
SHARED VOTING POWER

5,200,000

7.
SOLE DISPOSITIVE POWER

0

8.
SHARED DISPOSITIVE POWER

5,200,000

9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

5,200,000

10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)

[_]

11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

2.44

12.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

CO?

CUSIP No.
761640 10 1