MARLBOROUGH, Mass.,
Jan. 24, 2018 /PRNewswire/ -- RXi
Pharmaceuticals Corporation (NASDAQ: RXII), a biotechnology company
developing RNAi-based immunotherapies to treat cancer, today
announced that it received a notice from the NASDAQ Stock Market
that the closing bid price of the Company's common stock has been
at $1.00 per share or greater for ten
consecutive days. Accordingly, the Company has regained
compliance with Listing Rule 5550(a)(2) and this matter is now
closed.
As previously reported, the Company received notification from
NASDAQ stating that it was not in compliance with the NASDAQ Stock
Market's minimum bid price requirements because the bid price of
the Company's common stock had closed below the minimum
$1.00 per share for 30 consecutive
business days. Per NASDAQ listing rules, the Company was
afforded 180 calendar days, or until August
1, 2017, to regain compliance with NASDAQ listing
rules. Unable to regain compliance by that time, NASDAQ
granted the Company an additional 180 calendar days, or until
January 29, 2018, to regain
compliance with the bid price requirement.
About RXi Pharmaceuticals
RXi Pharmaceuticals Corporation (NASDAQ: RXII) is a
biotechnology company developing RNAi-based immunotherapies to
treat cancer. Building on the pioneering discovery of RNAi,
scientists at RXi have harnessed the naturally occurring RNAi
process which can be used to "silence" or down-regulate the
expression of a specific gene that may be overexpressed in a
disease condition. RXi developed a robust RNAi therapeutic
platform, including self-delivering RNA (sd-rxRNA®) compounds, that
have the ability to highly selectively block the expression of any
target in the genome, thus providing applicability to many
therapeutic areas. Our development programs include cell-based
immunotherapies to treat cancer with a near-term focus on using
adoptive cell therapy (ACT). RXi's extensive patent portfolio
provides for multiple product and business development
opportunities across a broad spectrum of therapeutic areas, and we
actively pursue research collaborations, partnering and
out-licensing opportunities with academia and pharmaceutical
companies. For additional information, visit the Company's website,
www.rxipharma.com.
Forward-Looking Statements
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: our ability to successfully develop RXI-109, Samcyprone™,
RXI-762, RXI-804 and our other product candidates (collectively
"our product candidates"); the future success of our clinical
trials with our product candidates; the timing for the commencement
and completion of clinical trials; our ability to enter into
strategic partnerships and the future success of these strategic
partnerships; and our ability to deploy our sd-rxRNA® technology
through partnerships, as well as the prospects of these
partnerships to provide positive returns. Forward-looking
statements about expectations and development plans of RXi's
product candidates and partnerships involve significant risks and
uncertainties, including the following: risks that we may not be
able to successfully develop and commercialize our product
candidates; risks that product development and clinical studies may
be delayed, not proceed as planned and/or be subject to significant
cost over-runs; risks related to the development and
commercialization of products by competitors; risks related to our
ability to control the timing and terms of collaborations with
third parties; and risks that other companies or organizations may
assert patent rights preventing us from developing or
commercializing our product candidates. Additional risks are
detailed in our most recent Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q under the caption "Risk
Factors." Readers are urged to review these risk factors and
to not act in reliance on any forward-looking statements, as actual
results may differ from those contemplated by our 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.
Contact
RXi Pharmaceuticals Corporation
Tamara McGrillen
508-929-3646
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SOURCE RXi Pharmaceuticals Corporation