RXi Pharmaceuticals Corporation (RXII) saw its loss narrow to $2.34 million, or $0.60 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $2.62 million, or $0.40 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $2.34 million, compared with an operating loss of $2.62 million in the previous year period.
"We believe RXi is well positioned for a strong business and development performance in 2017 due to the acquisition of MirImmune Inc. and the strengthening of our balance sheet through a financing at the end of 2016. As a result, the Company has already initiated programs in the immuno-oncology and cell therapy space, an exciting therapeutic area in health care today," said Dr. Geert Cauwenbergh, president and chief executive officer of RXi Pharmaceuticals. He further added that, "The capital that we received from our shareholders allows us to put a strong focus on these immuno-oncology programs while completing and reporting our ongoing clinical trials in dermatology and ophthalmology in the second half of 2017."
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