News

RXi to sell 2.4 million shares

BY Alaric DeArment

WORCESTER, Mass. A company that develops drugs based on a mechanism similar to the one that gives petunias their mix of colors has announced plans to put more than 3 million shares up for sale.

RXi, which develops and commercializes therapies based on RNA interference – the cellular mechanism that controls the activation and activity of genes in many organisms, including humans – said Friday that it would offer 2.4 million shares of its common stock for $3.50 per share and warrants to purchase up to 954,286 shares at $4.50 each, exercisable in early February 2010. The offering, which will garner $7.8 million for the company, is expected to close near the beginning of August.

According to the Howard Hughes Medical Institute, scientists originally discovered RNAi when they added pigmentation genes to single-color petunias. Instead of darkening the flowers’ petals, the new genes “silenced” many of the existing genes, causing some of the petals to turn white. In recent years, researchers have sought ways to use RNAi as a way of treating diseases.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

CVS/pharmacy makes enhancements to Web site, point-of-sales devices for visually impaired customers

BY Antoinette Alexander

WOONSOCKET, R.I. CVS/pharmacy, in collaboration with state and national organizations for the blind, is enhancing accessibility for the visually impaired to its Web site and store point-of-sales devices, the retailer announced on Thursday.

CVS/pharmacy is collaborating with the American Foundation for the Blind, American Council of the Blind and California Council of the Blind.

“We are pleased to collaborate with organizations committed to advocacy for the blind and introduce service enhancements in our stores and online that will increase access for our visually impaired customers,” stated Helena Foulkes, EVP and CMO of CVS Caremark.

To help customers who cannot read information on a flat screen point-of-sale devices, the stores have been equipped, at a minimum, with a tactile device at both the front check-out counter and the pharmacy counter to ensure that customers do not have to provide their PIN to a store employee. The company is also training its store associates to provide appropriate interaction with visually impaired customers regarding the use of the new tactile devices.

The company’s Web site, located at www.cvs.com, will be enhanced by the end of 2009 to ensure that people with a wide range of disabilities can access the site, including blind computer users who use a screen reader or magnification technology on their computers and those who rely on a keyboard instead of a mouse.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

Rite Aid reports loss in same-store sales for July

BY Allison Cerra

CAMP HILL, Pa. Rite Aid announced a 0.6% decrease in same-store sales for the month of July.

The retailer also reported that July front-end same-store sales decreased 4.7% while pharmacy same-store sales, which included an approximate 436 basis points negative impact from new generic introductions, increased 1.4%.

 

For the four weeks ended July 25, same-store sales excluding the acquired Brooks Eckerd stores were flat with front-end same-store sales decreasing 4.6% and pharmacy same store sales increasing 2.7%. Meanwhile, same-store sales at the acquired Brooks Eckerd stores declined 2% over the prior-year period with front-end same store sales decreasing 5% and pharmacy same-store sales decreasing 1%.

Total drug store sales for the four-week period decreased 2.4% to $1.929 billion ,compared with $1.975 billion for the same period last year. Prescription revenue accounted for 68.1% of drugstore sales, and third party prescription revenue represented 96.2% of pharmacy sales.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?