RXi Reports First-Quarter Loss
Worcester-based RXi Pharmaceuticals Corp. reported a loss today of $3.8 million for the first quarter of 2011, a 1.1-percent improvement from its losses during the same period last year.
The biotechnology company, which completed an $8.1-million public offering in March, noted several developments that it hopes will help it generate revenues.
RXi recently acquired Arizona-based Apthera Inc. and its breast cancer drug NeuVax, which is in late-stage clinical development.
The company is also developing a dermal anti-scarring product called RXI-109. RXi hopes to submit an investigational new drug application to the Food and Drug Administration for the drug in the second half of this year.
The company's stock was trading at 88 cents per share this morning, down about 2 percent since the earnings announcement.
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