RXi Pharmaceuticals losses hold steady
Photo/ Courtesy
RXi Pharmaceuticals Corp., a clinical-stage biotechnology company based in Marlborough, reported that its net losses held steady at $2 million in the second quarter compared to the same period a year ago.
The loss reduced stockholders’ loss per share to 23 cents, compared to 39 cents in the second quarter of 2013. Meanwhile, RXi reported sales of $12,000, down from $225,000 for the second quarter of 2013.
So far this year the company has seen its losses shrink by $12.1 million, which it attributed to a one-time charge of $12.3 million in the first quarter of 2013 for the purchase of the RNAi-related assets of biotech company OPKO Health Inc..
In April, RXi announced it had entered into a purchase agreement with Chicago-based investment firm Lincoln Park Capital LLC. Lincoln Park agreed to buy up to $20 million of shares in the company's common stock, with an initial investment of $2 million.
RXi is working toward government approvals of a drug that reduces dermal scarring for surgical patients.
WBJ Web Partners
Most Recent
Most Recent
0 Comments