RXi Pharmaceuticals Q4 net loss widens to $4m

RXi Pharmaceuticals, a discovery-stage biopharmaceutical company, has reported a net loss of $4m, or $0.29 per share, for the fourth quarter of 2008, compared to a net loss of $2.62m, or $0.21 per share, for the same period of 2007.

For the year ended December 31, 2008, the company reported a net loss of $14.37m, or $1.09 per share, an increase of 31%, compared with a net loss of $10.99m, or $0.99 per share, for the year ended December 31, 2007.

Tod Woolf, president and CEO of RXi, said: 2008 was a pivotal year for our company, as we became one of only a few biopharmaceutical companies to begin trading publicly during the year, and we made significant progress moving our RNAi therapeutics platform forward.

We advanced our rxRNA compounds and delivery technologies considerably in 2008, and are focusing our resources on preclinical development in the inflammatory and metabolic disease areas. With our strong intellectual property and world-class scientific and management team, we believe we are well poised for success in 2009 and the future.

RXi Pharmaceuticals is a biopharmaceutical company focused on development and commercialization of proprietary therapeutics based on RNA interference (RNAi) for the treatment of human diseases. RXi has a comprehensive RNAi platform that includes both RNAi compounds and delivery methods.