Edison Initiates Coverage on RXi Pharmaceuticals

LONDON, November 5, 2015 /PRNewswire/ --

Highlights of the analysis on RXi Pharmaceuticals by Edison's healthcare analysts Katherine Genis and Christian Glennie include:

RXi is an early-stage drug development company focused primarily on dermatology and ophthalmology. Lead clinical projects, RXI-109 in dermal indications (Phase II) and in AMD (Phase I ready) stem from its proprietary self-delivering sd-rxRNA platform. Licensed-in immunomodulator Samcyprone is initially being developed for warts, alopecia areata and melanoma.

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We value RXi at $91m or $1.40 per share ($1.17 per diluted share) based on an NPV of lead pipeline projects applying our standard 12.5% discount. Estimated cash holdings of $12m (September 2015) enable a cash runway that should extend to the latter part of 2016, or longer if 13-month share rights are exercised, which were issued in conjunction with its recent equity fundraising ($10.4m gross funds).

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About Edison: Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals works with leading companies, fund managers and investment banks worldwide to support their capital markets activities. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority (http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584).

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

Contact details: Learn more at http://www.edisongroup.com and connect with Edison on:

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http://www.linkedin.com/company/edison-investment-research
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For more information please contact:
Katherine Genis
Edison Investment Research
+1-646-653-7026

Christian Glennie
Edison Investment Research
+44-(0)20-3077-5727
[email protected]

SOURCE Edison Investment Research

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