August 14, 2009
RXi Q2 Loss Reaches $5M
By Matthew L. Brown
Worcester-based RXi Pharmaceuticals Corp. reported a $5.1 million loss for the second quarter compared to a loss of $4.3 million a year ago.
The company reported a similar operating loss, as well as small increases in spending on research and development and company administration. RXi ended 2008 with nearly $10 million in cash and saw that number dwindle to $4.4 million by the end of the quarter.
In the first half of the year, the company lost $9.3 million compared to $7 million in the same period a year ago.
RXi is developing drugs based on RNAi. RNAi seeks to treat diseases by interfering with the genes thought to cause those diseases.
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