Eloxx Pharmaceut Stock Price, News & Analysis

Eloxx Pharmaceuticals (Nasdaq: ELOX) has received Fast Track designation from the FDA for its drug candidate ELX-02, aimed at treating cystic fibrosis patients with nonsense mutations. This designation, announced on September 9, 2021, facilitates expedited development and review processes, allowing for greater FDA interaction. ELX-02 is currently in Phase 2 clinical trials, designed to assess safety and efficacy. Data from initial treatment arms are expected in Q4 2021. The drug has also previously received orphan drug designations from both the FDA and EMA.

Eloxx Pharmaceuticals has appointed Dr. Ali Hariri as Chief Medical Officer, focusing on clinical development of its pipeline targeting rare diseases. Previously at Sanofi, Dr. Hariri's experience in rare diseases will aid in advancing ELX-02, currently in Phase 2 trials for cystic fibrosis patients with nonsense mutations. The company expects data from the first four treatment arms of the Phase 2 study in Q4 2021, emphasizing the safety and biological activity of ELX-02.

Eloxx Pharmaceuticals (NASDAQ: ELOX) announced progress in its clinical programs, including updates on ELX-02 Phase 2 trials for cystic fibrosis (CF) and the nomination of ZKN-013 for Recessive Dystrophic Epidermolysis Bullosa (RDEB) and Junctional Epidermolysis Bullosa (JEB). The company raised approximately $52 million through a public offering and received $2.6 million from the Cystic Fibrosis Foundation for developing Ribosome Modulating Agents (RMAs). Financial results show a net loss of $36.1 million for Q2 2021, with cash reserves of $56.7 million expected to fund operations into Q1 2023.

Eloxx Pharmaceuticals (NASDAQ: ELOX) announced an update on its ongoing Phase 2 clinical program for ELX-02, targeting cystic fibrosis in patients with the G542X allele. Patient enrollment is on track, with data from the first four treatment arms expected in Q4 2021. Currently, the trial has no reported serious drug-related adverse events, and a fifth treatment arm has been added to evaluate ELX-02 with Kalydeco. The program is partially funded by the Cystic Fibrosis Foundation, and ELX-02 has received orphan drug designation from the FDA.

Eloxx Pharmaceuticals (NASDAQ: ELOX) has been awarded up to $2.6M from the Cystic Fibrosis Foundation to develop oral Ribosome Modulating Agents (RMAs) targeting cystic fibrosis patients with nonsense mutations. The funding supports the TURBO-ZM™ synthetic chemistry platform, enhancing the ongoing ELX-02 program in Phase 2 clinical trials. CEO Sumit Aggarwal highlights the importance of this funding for advancing novel therapies. Results from the Phase 2 trials are expected later this year, reflecting the company's commitment to addressing rare genetic diseases.

Eloxx Pharmaceuticals has successfully closed an underwritten public offering of 38,333,334 shares of common stock at a price of $1.35 per share, totaling approximately $51.75 million in gross proceeds. This includes the full exercise of an underwriters’ option for an additional 5,000,000 shares. The offering was managed by B. Riley Securities, Inc. A shelf registration statement was previously approved by the SEC. The press release also contains forward-looking statements highlighting potential risks and uncertainties affecting the company’s future performance.

Eloxx Pharmaceuticals announced the pricing of a public offering of 33,333,334 shares at $1.35 per share. The underwriters have a 30-day option to purchase an additional 5,000,000 shares. The offering, managed by B. Riley Securities, is expected to close around May 18, 2021, pending standard conditions. This common stock sale is authorized under a previously effective shelf registration statement with the SEC, ensuring compliance with regulatory requirements. The company emphasizes that this announcement does not constitute an offer to sell securities.

Eloxx Pharmaceuticals, Inc. (Nasdaq: ELOX) has initiated an underwritten public offering of its common stock. The offering includes a potential 30-day option for underwriters to purchase an additional 15% of the shares. B. Riley Securities, Inc. is the sole book-running manager for this offering, which is contingent on market conditions. The shares will be offered under a previously effective SEC registration statement. Full details will be provided in a final prospectus supplement.

Eloxx Pharmaceuticals (NASDAQ: ELOX) announced its acquisition of Zikani Therapeutics and reported its Q1 2021 financial results. The acquisition aims to enhance the potential of ELX-02, a treatment for cystic fibrosis, now in Phase 2 trials, which has added a new arm evaluating its safety with Kalydeco. The CF Foundation has increased funding for clinical trials in Europe and Israel. Eloxx reported a Q1 net loss of $8.7 million but improved from a $13.9 million loss the previous year. Cash reserves stood at $18.2 million, expected to sustain operations through Q3 2021.