RXi Pharmaceuticals (NASDAQ: [[ticker:RXII]]) inked a deal to sell just over a million shares of its common stock to institutional investors for a total of some $8.7 million. The Worcester, MA-based firm, whose stock debuted in March, plans to use the proceeds of this private placement to build its pipeline of RNAi-based drugs, among other things.
Author: Rebecca Zacks
Rebecca is Xconomy's co-founder. She was previously the managing editor of Physician's First Watch, a daily e-newsletter from the publishers of New England Journal of Medicine. Before helping launch First Watch, she spent a decade covering innovation for Technology Review, Scientific American, and Discover Magazine's TV show. In 2005-2006 she was a Knight Science Journalism Fellow at MIT. Rebecca holds a bachelor's degree in biology from Brown University and a master's in science journalism from Boston University.
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