RXi Pharmaceuticals Corp (NASDAQ:RXII) dropped 1.9% during trading on Friday . The stock traded as low as $0.38 and last traded at $0.51. Approximately 375,500 shares changed hands during trading, an increase of 34% from the average daily volume of 280,900 shares. The stock had previously closed at $0.52.

RXi Pharmaceuticals’s stock is going to reverse split before the market opens on Monday, January 8th. The 1-10 reverse split was announced on Friday, January 5th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, January 5th.

RXi Pharmaceuticals (NASDAQ:RXII) last announced its earnings results on Wednesday, November 8th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($1.10). During the same period in the previous year, the firm posted ($3.40) EPS.

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About RXi Pharmaceuticals

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.

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