May 15, 2009
RXi Q1 Loss Up As Expenses Rise
RXi Pharmaceuticals Inc. of Worcester increased its first-quarter loss 57 percent this year as it ramped up hiring, patent applications and other expenses.
The company, which has not yet produced any revenues, lost $4.2 million for the quarter.
RXi focuses on therapeutic applications of RNA interference technology.
The company said its efforts received new validation in the first quarter, with developments including a $750,000 grant from the Massachusetts Life Sciences Center to help RXi and the University of Massachusetts Medical School develop RNAi-based therapeutics to treat inflammatory diseases.
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