RXi Pharmaceuticals Announces Proposed Public Offering of Common Stock and Warrants
MARLBOROUGH, Mass., May 27, 2015 /PRNewswire/ -- RXi Pharmaceuticals Corporation (NASDAQ: RXII), a biotechnology company focused on discovering and developing innovative therapies primarily in the areas of dermatology and ophthalmology, today announced that it has commenced a public offering of shares of its common stock, warrants to purchase shares of its common stock and overallotment purchase rights to purchase shares of its common stock. The shares of common stock, warrants and overallotment purchase rights are immediately separable and will be issued separately. All of the shares in the offering are to be sold by RXi Pharmaceuticals. H.C. Wainwright & Co., LLC will act as exclusive placement agent on a best efforts basis for the offering.
The Company intends to use the net proceeds from this offering for general corporate purposes, which include, but are not limited to, funding its ongoing and future clinical trials and for general and administrative expenses. The Company may also use a portion of the net proceeds to acquire or invest in complementary businesses, products and technologies or to fund the development of any such complementary businesses, products or technologies that it may acquire in a stock-based acquisition. The Company has no current plans for any such acquisitions.
The securities described above are being offered by the Company pursuant to a registration statement on Form S-1, together with a base prospectus, previously filed with and declared effective by the Securities and Exchange Commission (SEC). A preliminary prospectus related to the offering has been filed with the SEC. When available, copies of the preliminary prospectus may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, New York 10022, via e-mail at email@example.com or via telephone at (212) 356-0530.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About RXi Pharmaceuticals Corporation
RXi Pharmaceuticals Corporation (NASDAQ: RXII) is a biotechnology company focused on discovering and developing innovative therapeutics primarily in the areas of dermatology and ophthalmology that address high-unmet medical needs. Our discovery and clinical development programs are based on siRNA technology as well as immunotherapy agents. These compounds include, but are not limited to, our proprietary, self-delivering RNAi (sd-rxRNA®) compounds for the treatment of dermal and retinal scarring. It also includes an immunomodulator, Samcyprone™, a proprietary topical formulation of diphenylcyclopropenone (DPCP), for the treatment of such disorders as alopecia areata, warts, and cutaneous metastases of melanoma.
RXi's robust pipeline, coupled with an extensive patent portfolio, provides for product and business development opportunities across a broad spectrum. We are committed to being a partner of choice for academia, small companies, and large multinationals. We welcome ideas and proposals for strategic alliances, including in- and out-licensing opportunities, to advance and further develop strategic areas of interest.
RXi Pharmaceuticals Corporation
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SOURCE RXi Pharmaceuticals Corporation