RXi controls Q3 cash burn
Courtesy of RXi Pharmaceuticals Corp.
Clinical-stage drug company RXi Pharmaceuticals Corp. reported on Thursday it has kept its ongoing cash burn in line with projections while moving development programs forward and closing in on a recently announced acquisition.
Last month, the Marlborough company announced it had entered into an exclusive agreement to purchase Boston-based MirImmune Inc. and announced plans to raise funds for the purchase.
The company uses RXi’s proprietary RNAi technology for cell therapy and immune-oncology and according to Dr. Geert Cauwenbergh, president and CEO of RXi Pharmaceuticals, would allow RXi to move forward in the development of novel cancer therapeutics. Current clinical development programs for RXi include RXI-109 for the treatment of scarring and Samcyprone for the treatment of such disorders as warts, alopecia areata, non-malignant skin tumors and cutaneous metastases of melanoma.
RXi’s net loss for the third quarter of the year was $2.2 million, a drop from the previous year’s second quarter loss of $2.5 million.
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