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Micro-Cap on Watch; RXi Pharmaceuticals Corp. (RXII)

By Warren Paige

Shares of RXi Pharmaceuticals Corporation (OTC: RXII), a biotechnology company engaged in the discovery, development and commercialization of innovative therapies based on its proprietary, next-generation RNAi platform, surged in trading today.

RXII shares ended the day 32.67% higher at $0.20 on above average volume of 1.43 million.

RXi Pharmaceuticals recently announced the successful initiation of its first ever clinical study with an RNAi compound, RXI-109, using its proprietary self-delivering RNAi technology.

Pamela Pavco, Chief Development Officer of RXi Pharmaceuticals, said that this is an exciting time for RXi Pharmaceuticals and for RNAi technology in general. Pavco said that after an intense period of preparation, RXII is happy to announce the achievement of a major milestone. Pavco added that RXII believes RXI-109 will provide a highly selective and efficacious solution to an important unmet medical need.

July 3rd, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.