RXi Pharmaceuticals to raise $8.35 million through private placement

RXi Pharmaceuticals Corporation, a US-based biopharmaceutical company, has entered into an agreement to raise $8.35 million through a private placement of its common stock at a price of $3.5 per share. The company also issues warrants to purchase up to 954,286 shares of common stock at an exercise price of $4.5 per share.

RXi Pharmaceuticals would use the proceeds from the placement to meet working capital needs and for general corporate purposes.
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