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RXi Raises $16M in Stock Deal

RXi Pharmaceuticals (NASDAQ: RXII), the Worcester, MA-based developer of RNA interference treatments, said today it has raised $16.2 million through a stock offering. Investors have agreed to buy 2.7 million shares at $6 apiece, plus warrants to buy another 540,000 shares. The investors got a 26 percent discount on the stock, based on RXi’s closing share price yesterday of $8.11. Rodman & Renshaw acted as the exclusive placement agent on the deal.