EDISON EQUITY RESEARCH: RXI PHARMACEUTICALS

EDISON EQUITY RESEARCH: RXI PHARMACEUTICALS - DELIVERING ON ITS SELF-DELIVERING RNAI PLATFORM

Over the past year, RXi Pharmaceuticals (RXi) has made significant headway with its pipeline as well as in securing partnerships. Its lead compound RXI-109 is in Phase II in dermatological scarring and is entering the clinic this year in retinal scarring in wet AMD. Phase II dermatology treatment Samcyprone was in-licensed, while a deal was struck with MirImmune for the out-licensing of its proprietary sd-rxRNA technology. We expect the company’s budding pipeline, recently simplified shareholder structure and deal-oriented strategy will continue to garner renewed investor attention and share price momentum. We value RXi at $91m or $1.40 per share.

RXi is an early-stage drug development company focused primarily on dermatology and ophthalmology. Lead clinical projects, RXI-109 in dermal indications (Phase II) and in AMD (Phase I ready) stem from its proprietary self-delivering sd-rxRNA platform. Licensed-in immunomodulator Samcyprone is initially being developed for warts, alopecia areata and melanoma.

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RXI Pharmaceuticals Corporation (NASDAQ:RXII)
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