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RXi Pharmaceuticals Announces Application for NASDAQ Capital Market Listing and Reverse Stock Split
Date:7/22/2013

WESTBOROUGH, Mass., July 22, 2013 /PRNewswire/ -- RXi Pharmaceuticals Corporation (OTCQX: RXII), a biotechnology company focused on discovering, developing and commercializing innovative therapies addressing major unmet medical needs using RNA-targeted technologies, today announced that it has filed an application for listing on The NASDAQ Capital Market.

In addition to the application for listing on The NASDAQ Capital Market, RXi today announced a 1-for-30 reverse split of its issued and outstanding shares of common stock. Trading will begin on a post-split basis at the open of the OTCQX on July 24, 2013 under new CUSIP number 74979C303. No fractional shares of common stock will be issued as a result of the reverse stock split and instead holders will receive cash in lieu of fractional shares to which they would otherwise be entitled.

"This reverse stock split combined with a possible NASDAQ Capital Market Listing is the next important step for RXi Pharmaceuticals in becoming a strong biotechnology company," said Dr. Geert Cauwenbergh, President and CEO of RXi Pharmaceuticals. He added that ''If approved, we believe that the NASDAQ listing and the reverse stock split will create the conditions for RXi to gain access to a broader institutional investment community, to strengthen our financing flexibility, and to provide greater liquidity for our shareholders."

About RXi Pharmaceuticals Corporation

RXi Pharmaceuticals Corporation (OTCQX: RXII) is a biotechnology company focused on discovering, developing and commercializing innovative therapies based on its proprietary, self-delivering RNAi platform. Therapeutics that use RNA interference, or "RNAi," have great  promise because of their ability to down-regulate, the expression of a specific gene that may be over-expressed in a disease condition. Building on the pioneering work of scientific founder and Nobel Laureat
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SOURCE RXi Pharmaceuticals Corporation
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