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RXi Q1 Loss Up on Slightly Higher Expenses

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NEW YORK (GenomeWeb) – RXi Pharmaceuticals this week reported a slight increase in its first-quarter net loss on modestly higher costs.

For the three-month period ended March 31, 2014, RXi's net loss was $2.3 million, up from $2.1 million in the year-ago quarter. The first-quarter 2013 loss does not include the impact of a one-time charge of $12.3 million related to the company's acquisition of Opko Health's RNAi assets.

Research and development spending in the quarter was $1.5 million, essentially flat with the first quarter a year earlier, excluding the one-time Opko charge. Meantime, general and administrative costs rose to $800,000 from $700,000.

At the end of the first quarter, RXi had cash and cash equivalents totaling $12 million.

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