|By PR Newswire||
|February 11, 2014 07:02 AM EST||
WESTBOROUGH, Mass., Feb. 11, 2014 /PRNewswire/ -- RXi Pharmaceuticals Corporation (NASDAQ: RXII), a biotechnology company focused on discovering, developing and commercializing innovative therapies addressing major unmet medical needs using RNA-targeted technologies, announced today that the Company received approval by The NASDAQ Stock Market LLC's ("NASDAQ") Listing Qualification Department to list its common stock on the NASDAQ Capital Market. The Company's common stock will commence trading under the same ticker symbol, "RXII," on the NASDAQ Capital Market effective at the opening of trading on Tuesday, February 11, 2014.
Dr. Geert Cauwenbergh, President and CEO of RXi Pharmaceuticals Corporation said that, "We are very pleased to achieve this milestone as a Company." He added that, "Listing on NASDAQ will help us gain access to a broader institutional investment community and to provide greater liquidity for our shareholders. We thank OTC Markets Group for having been a gracious host to RXi for the past 2 years, helping the company move into this new stage of its growth. This accomplishment marks another milestone for RXi as we continue to develop our self-delivering RNAi-based (sd-rxRNA®) technology platform into commercially viable assets."
About RXi Pharmaceuticals Corporation
RXi Pharmaceuticals Corporation (NASDAQ: RXII) is a biotechnology company focused on discovering, developing and commercializing innovative therapies based on its proprietary, self-delivering RNAi platform. Therapeutics that use RNA interference, or "RNAi," have great promise because of their ability to down-regulate the expression of a specific gene that may be over-expressed in a disease condition. Building on the pioneering work of scientific founder and Nobel Laureate Dr. Craig Mello, a member of the RXi Scientific Advisory Board, RXi's first RNAi product candidate, RXI‑109, targets connective tissue growth factor (CTGF) to reduce dermal scarring (fibrosis), entered into human clinical trials in June 2012. For more information, please visit www.rxipharma.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future expectations, planned and future development of RXi Pharmaceuticals Corporation's products and technologies. Forward-looking statements about expectations and development plans of RXi's products involve significant risks, and uncertainties: risks that RXi may not be able to successfully develop its candidates, or that development of RNAi-based therapeutics may be delayed or not proceed as planned, or that we may not develop any RNAi-based product; risks that the development process for our product candidates may be delayed, risks related to development and commercialization of products by our competitors, risks related to our ability to control timing and terms of collaborations with third parties, and the possibility that other companies or organizations may assert patent rights preventing us from developing our products. Actual results may differ from those contemplated by these forward-looking statements. RXi does not undertake to update forward-looking statements to reflect a change in its views, events or circumstances that occur after the date of this release.
RXi Pharmaceuticals Corporation
Tamara McGrillen, 508-929-3646
SOURCE RXi Pharmaceuticals Corporation