Biotech startup RXi Pharmaceuticals of Westborough announced Tuesday it was approved for listing on the NASDAQ Capital Market and began trading on the exchange.
“We are very pleased to achieve this milestone as a company,” said Geert Cauwenbergh, RXi president and CEO. “Listing on the NASDAQ will help us gain access to a broader institutional investment community and to provide greater liquidity for our shareholders.”
RXi applied for the listing in July. The company had- been trading since June on OTCOX, a segment of the OTC Market Group reserved for U.S. companies that meet certain quality standards.
The company has enrolled subjects for its second phase of testing of its RXI-109 drug, which is intended to reduce post-surgical scarring.
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