On October 3, 2018 RXi Pharmaceuticals Corporation (NASDAQ: RXII), a biotechnology company developing the next generation of immuno-oncology therapeutics based on its proprietary self-delivering RNAi (sd-rxRNA) therapeutic platform, reported the closing of its previously announced underwritten public offering of 3,725,714 units at a public offering price of $0.70 per unit and 17,702,858 pre-funded units at a public offering price of $0.69 per pre-funded unit, raising gross proceeds of approximately $15 million (Press release, RXi Pharmaceuticals, OCT 3, 2018, View Source [SID1234529729]). The Company intends to use the net proceeds of this offering towards the development of RXi’s immuno-oncology program, for other research and development activities and for general working capital.

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Each unit sold in this offering contained one share of common stock and one warrant to purchase one share of common stock. Each pre-funded unit sold in this offering included one pre-funded warrant to purchase one share of common stock, at an exercise of $0.01 per share, and one warrant to purchase one share of common stock. Each warrant has an exercise price of $0.70 per share, is exercisable immediately and will expire seven years from the date of issuance. The shares of common stock (or the pre-funded warrants, as the case may be) and the accompanying warrants included in the units or pre-funded units were purchased together in this offering but were issued separately.

A registration statement on Form S-1 relating to the public offering of the securities described above was filed with the Securities and Exchange Commission ("SEC") and was declared effective on September 28, 2018, and an additional registration statement on Form S-1 filed pursuant to Rule 462(b) became automatically effective on October 1, 2018. The offering was made only by means of a prospectus forming part of the effective registration statements. Copies of the final prospectus relating to the offering is available on the SEC’s website at www.sec.gov and may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (646) 975-6996 or by emailing [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.