This is cited from the conference website.
Preliminary results from Phase 2a dermal clinical trials indicate a better outcome (reduced scar formation) following hypertrophic scar revision surgery when the incision site is treated by intradermal injections of RXI-109.
bi0technician, RXi will run out of funding by the end of year. It is very likely RXi will do another public offering. The MC is less than 20 M. Even if it going to raise 10 M, that is 50% reduced PPS. SO I think there will be big PPS dropping if there is no news for the coming CC.
It is so sad to see you lost confidence. But you have to trust your own judgement.
With current low price and low volume, how can you liquidation of your shares?
After R/S, the company will do another huge public offering to further dilute shareholders value, it is Geert intention to destroy shareholders value organically.
Hanna, couple days ago I predicted RXi is going to do R/S, this is very unfortunate that no big Pharma is interested in sd-rxRNAi. And RXI-109 P2 results is uncertained.
Change bylaw has to go through Shareholders meeting which is in June? not enough time. And if the company wants to stay in NASDAQ, a R/S has to be done to meet NASDAQ requirement. But I hope the company can find the partnerships with front money!
RXi total shares will be close to 100M if all the warrants exercised. So RXi will not be able to issue another public offering to raise money because according to bylaw RXi total shares limit to under 100M.
But if RXi doing another R/S, the total shares will be way below 100M. RXi thus clears the way to do another public offering.
I am long, I do not want to see this happening, but so far RXi could not raise money by partnerships. Time running out.
On RXi website institutional ownership showed
Broadfin Capital LLC 5,126,482 7.84 1,517,951 12/31/2015
If you check the 13G filing by Empery on January 19, under Item 4 it states: "Pursuant to the terms of the Reported Purchase Rights and the Reported Warrants, the Reporting Persons cannot exercise any of the Reported Purchase Rights or the Reported Warrants to the extent the Reporting Persons would beneficially own, after any such exercise, more than 4.99% of the outstanding shares of Common Stock.