Current market capitalization for RXII is 11.4 million. This is enough for a phase 1 trial to began assuming they have an adequate supply of RXI-109 on hand (this is unknown). If this is the case then we should see a press release very soon. I may be wrong but this would be a logical timeline if everything is going well. This would answer many of our questions. We will have to wait and see.
I guess I should clarify what I meant by news. I was hoping that we would hear about the study protocol, location number and type of patients not an actual start of the study. This would be the information that was used to get FDA approval.
It is going to take some months to launch the RXi-109 clinical trial. It would take a few more months before RXi will have solid findings in its progress reports.
To expect significant good news to drive RXi's share price up in the near future is unrealistic.
Though, more information on how the company finance its operations and more information on the clinical trial of the anit-scarring project would reduce heavy speculation and more serious investors who are willing to support the company.
If my other biotech investment turns out well next week, I plan to buy more RXi shares.
The weather is excellent here. So, I am going to enjoy it. Have a nice weekend!