RXi Pharmaceuticals Corporation (RXi) is a discovery-stage biopharmaceutical company pursuing therapeutics based on ribonucleic acid interference (RNAi) for the treatment of human diseases. The Company is focused on internal research and development programs on certain inflammatory and metabolic diseases, and to pursue other therapeutic areas with potential partners. RXi commenced operations after CytRx Corporation contributed to the Company its portfolio of RNAi therapeutic assets, which consisted primarily of RNAi licenses and related intellectual property, and a nominal amount of equipment. As of December 31, 2008, the Company had not generated any revenues.