Thursday, June 07, 2018 2:38:37 PM
Let me count RXI's many red flags.
1) Dermal scarring: At the 5/18/2018 presentation, no mention of the Scar Appearance evaluation, or whether the next step is Phase 2 or 3 testing. If RXI-109 was ready for Phase 3, RXI would have stated so. Taking into consideration patent duration (20 years), it's likely RXI-109 development isn't worth pursuing.
(http://investors.rxipharma.com/static-files/1308620d-dd40-4415-9ba1-8bfa1e528a14)
2) Skin lightener: According to the 5/18/2018 presentation (http://investors.rxipharma.com/static-files/09c6d08b-00fd-4cda-aecd-16207a65b1ea),
"Further studies are needed to evaluate the magnitude and longevity of the effect of RXI-231, especially with longer applications both prior to and after UV exposure"
Translation: Study 3 simply established "proof-of-concept" that an effect occurs. Seems to me, the previous Study 2 would have already confirmed that. So RXI is abandoning a $billion product whose development is pretty far along in favor of starting from square one with immunotherapy? What's wrong with this picture?
3) Phil Frost has lost Big Money:
http://investors.rxipharma.com/static-files/fd4e54f8-9253-4b42-bf59-19db62b7a5fb
and I think Frost also kicked in an additional $5 million. Frost can afford these losses, but still...
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