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RXi Posts Flat Q3 Net Loss

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NEW YORK (GenomeWeb) – RXi Pharmaceuticals this week reported its third-quarter financial results, posting a net loss essentially flat with last year as expenses held steady.

For the three-month period ended Sept. 30, RXi's net loss was $2.2 million, or $.17 a share, compared with $2.1 million, or $.30 a share, the year before.

Research and development spending in the quarter was $1.5 million, up slightly from expenses of $1.2 million a year ago. General and administrative costs, meanwhile, dipped to $2.5 million from $2.6 million.

At the end of the third quarter, RXi had cash, cash equivalents, and short-term investments totaling $10.1 million.

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