January 25, 2018

RXi Pharmaceuticals regains Nasdaq compliance

Brad Kane
Geert Cauwenbergh, president and CEO, RXi Pharmaceuticals Corp., Marlborough.

Marlborough drug maker RXi Pharmaceuticals has regained compliance with the Nasdaq Stock Market by having 10 straight days with a closing bid price of the company's stock at $1 per share or higher.

In February 2017, the company was notified that its stock bid price fell below the minimum required $1 per share for 30 consecutive days. Nasdaq then granted RXi 180 days to regain compliance, and another 180 days were granted in August.

The company had until the end of this month to regain compliance.

Earlier this month, RXi announced a shift to its business strategy, which largely consisted of focusing on a potentially lucrative immuno-oncology program.

The company plans to partner or out-license its dermatology and ophthalmology franchises.

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