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.
Eloxx Pharmaceuticals (NASDAQ: ELOX) has announced a fifth treatment arm in its ongoing Phase 2 clinical trial for ELX-02, aimed at treating cystic fibrosis (CF) in patients with at least one G542X allele. This addition evaluates the safety of ELX-02 in combination with Kalydeco (ivacaftor). Positive preclinical synergy between the two drugs suggests enhanced clinical outcomes. Results from the first four arms are anticipated in the second half of 2021. The trial spans multiple countries, with no serious drug-related adverse events reported thus far.
Eloxx Pharmaceuticals (NASDAQ: ELOX) has acquired Zikani Therapeutics in an all-stock transaction, aiming to lead in ribosomal RNA-targeted therapies for rare diseases and oncology. The merger enhances the potential of ELX-02, currently in Phase 2 for cystic fibrosis, and introduces new therapeutic opportunities for Recessive Dystrophic Epidermolysis Bullosa and related conditions. Zikani's TURBO-ZM™ platform will accelerate drug development. Approximately 7.6 million shares will be issued to Zikani stockholders, granting them 16% ownership of the combined entity.
Eloxx Pharmaceuticals (NASDAQ: ELOX) reported financial results for Q4 and FY 2020, noting cash reserves of $24.7 million to support operations. The company is set to release top-line data from its Phase 2 cystic fibrosis trials in H1 2021, expanding sites internationally, including Australia and Canada. The Cystic Fibrosis Foundation increased funding, and dose escalation has been approved by independent committees without serious adverse events. Eloxx aims to demonstrate the efficacy of ELX-02, its investigational drug, in treating cystic fibrosis.
Summary:
Eloxx Pharmaceuticals (NASDAQ: ELOX) announced a conference call and webcast scheduled for March 11, 2021, at 4:30 p.m. ET to discuss its Q4 and full-year 2020 financial and operational results. The company focuses on developing RNA-modulating therapies for diseases caused by nonsense mutations, with its lead candidate, ELX-02, targeting cystic fibrosis. Eloxx aims to restore functional protein production in affected patients. This press release includes forward-looking statements regarding the company's development plans and potential risks associated with its drug candidates.