RXi Pharmaceuticals Corp (NASDAQ:RXII), a biotechnology company focused on discovering and developing innovative therapeutics, primarily in the areas of dermatology and ophthalmology, announced that it received two Notices of Allowance from the United States Patent and Trademark Office (USPTO). One is on RXi’s novel, self-delivering RNAi platform (sd‑rxRNA®). The patent, titled “Reduced Size Self-Delivering RNAi Compounds,” covers both the composition and methods of use of RXi’s self-delivering platform. The patent, once issued, will be scheduled to expire in 2031.
Importantly, this patent expands the scope of RXi’s self-delivering RNAi platform with the incorporation of novel oligonucleotide chemical modifications. These chemical modifications result in improved biodistribution following systemic administration and may be beneficial for local delivery applications in the central nervous system.
In addition, RXi announced that it has also received a Notice of Allowance from the USPTO covering the composition and methods of use for rxRNAori® compounds targeting Mitogen-activated protein kinase kinase kinase kinase 4 (MAP4K4). These compounds may be beneficial for the treatment of inflammatory diseases and/or metabolic diseases. RXi’s rxRNAori platform are highly potent RNAi compounds which require delivery vehicles to be taken up by cells and tissues of interest. The patent, once issued, will be scheduled to expire in 2029.
“We are pleased to receive both of these Notices of Allowance from the USPTO, which further broaden and protect the Company’s already robust patent estate.” said Dr. Geert Cauwenbergh, President and CEO of RXi Pharmaceuticals. He further added, “RXi’s intellectual property portfolio is a highly valuable corporate asset that provides substantial protection for our novel technology platform and offers numerous product and business development opportunities.” (Original Source)
Shares of RXi Pharmaceuticals closed yesterday at $0.46 . RXII has a 1-year high of $3.98 and a 1-year low of $0.34. The stock’s 50-day moving average is $0.55 and its 200-day moving average is $1.12.
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 implies an upside of 987.0% from current levels.
According to TipRanks.com, Benjamin has a total average return of 5.4%, a 42.0% success rate, and is ranked #1016 out of 3614 analysts.
RXi Pharmaceuticals Corpis a biotechnology company focused on discovering and developingtherapies addressing high unmet medical needs, in the areas of dermatology and ophthalmology.