RXi PHARMACEUTICALS CORPORATION (NASDAQ:RXII) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On May31, 2018, RXi Pharmaceuticals Corporation (the “Company”) received written notice (the “Notification Letter”) from the Nasdaq Stock Market (“Nasdaq”) in response to the Company’s submissions notifying Nasdaq that the Company has approximately $4.7million in stockholders’ equity as of March31, 2018, on a pro forma basis.
On March29, 2018, the Company received written notice that it was not in compliance with the minimum stockholders’ equity requirement set forth in Nasdaq Listing Rule 5550(b)(1) (the “Rule”) for continued listing on The Nasdaq Capital Market. The Rule requires listed securities to maintain a minimum of $2.5million in stockholders’ equity.
In response to the Company’s submissions explaining its current financial position, Nasdaq is requiring that the Company evidence that it is in compliance with the Rule by no later than September25, 2018.
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About RXi PHARMACEUTICALS CORPORATION (NASDAQ:RXII)
RXi Pharmaceuticals Corporation is a clinical-stage ribonucleic acid (RNA) interference (RNAi) company developing therapeutics in dermatology and ophthalmology that address unmet medical needs. The Company’s development programs are based on its self-delivering RNAi (sd-rxRNA) platform and Samcyprone, a topical immunomodulator. Its clinical development programs include RXI-109, an sd-rxRNA, for the treatment of dermal and ocular scarring, and Samcyprone for the treatment of such disorders as warts, alopecia areata, non-malignant skin tumors and cutaneous metastases of melanoma. Its pipeline is focused on approximately three areas, including dermatology, ophthalmology and cosmetic product development. Its RNAi therapies are designed to silence, or down-regulate, the expression of a specific gene that may be over-expressed in a disease condition and its immunotherapy agent treats diseases by inducing, enhancing or suppressing an immune response.
