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RXi secures $16.2 million to implement buy-back

This article was originally published in Scrip

Executive Summary

RXi Pharmaceuticals, which develops RNAi-based therapeutics, has secured $16.2 million through a direct offering of stock and warrants that is expected to close on 26 March. Proceeds will be used for general corporate purposes as well as for the repurchase of 675,000 shares of its stock from fellow US firm CytRx at $5.70 per share, a discount of 30% from the closing price on 22 March.


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