RXi Pharmaceuticals Corp (NASDAQ:RXII), a biotechnology company focused on discovering and developing innovative therapies primarily in the areas of dermatology and ophthalmology, presented new data, on Saturday, May 9, 2015, on the Company’s proprietary self-delivering RNAi (sd-rxRNA®) compounds developed to target Tyrosinase (TYR) and Collagenase (MMP1) at the 74th Annual Meeting of the Society for Investigative Dermatology.
Poster 642 presented new data from one of the Company’s discovery stage programs, showing that sd‑rxRNA compounds developed to target TYR, lead to a visible reduction in pigmentation in cultured melanocytes. In vitro experiments have been carried out using a 3‑dimensional tissue culture model of human epidermis that contains melanocytes. The results of these experiments show that sd-rxRNA compounds targeting tyrosinase, in this model, are at least one hundred times more potent than kojic acid, a well-characterized skin lightening agent in reducing the melanin production in melanocytes.
Poster 487 presented results on sd-rxRNA compounds targeting MMP1. In this discovery program, multiple potent sd-rxRNAs that target MMP1 have been identified and evaluated. Data from this poster show a reduction in MMP1 mRNA levels that corresponds to a similar reduction in MMP1 enzyme activity in HT-1080 cells, a cell line useful for research related to cancer of connective tissues. In addition, silencing of MMP1 expression in an in vitro scratch assay resulted in reduced migration of A549 cells, a clinically relevant non-small cell lung cancer cell line. Reduced migration in a scratch assay may indicate a reduction in the invasive nature of the cancer cell due to MMP1 reduction as a result of sd-rxRNA treatment.
“We are excited to move these discovery programs forward,” said Dr. Karen Bulock, Vice President of Research at RXi Pharmaceuticals. She further added, “Not only do these TYR inhibitors have the potential to treat pigmentation disorders, both the TYR and MMP1 compounds may also be useful as adjuvant therapy for diseases such as melanoma and possibly cancer metastasis, respectively.”(Original Source)
Shares of RXi Pharmaceuticals Corp closed last Friday at $0.5301 . RXII has a 1-year high of $3.98 and a 1-year low of $0.50. The stock’s 50-day moving average is $0.71 and its 200-day moving average is $1.34.
On the ratings front, H.C. Wainwright analyst Reni Benjamin reiterated a Buy rating on RXII, with a price target of $5, in a report issued on March 31. The current price target represents a potential upside of 843.2% from where the stock is currently trading.
According to TipRanks.com, Benjamin has a total average return of -4.6%, a 34.3% success rate, and is ranked #3449 out of 3596 analysts.
RXi Pharmaceuticals Corpis a biotechnology company focused on discovering and developingtherapies addressing high unmet medical needs, in the areas of dermatology and ophthalmology.