RXi Spending, Loss Up For Q3

RXi Pharmaceuticals of Worcester saw a net loss of $3.4 million in the third quarter of the year, up from $2.2 million for the same quarter last year.

The company increased its spending on research and development for the quarter from $786,000 to $1.2 million and raised its general and administrative expenses from $1.6 million to $2.3 million.

The company said one of its major accomplishments for the quarter was the licensing of technology from the University of Massachusetts that may allow for the oral delivery of RNAi therapeutics.

RXi was founded by UMass professor and Nobel Prize winner Craig Mello.