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ELOXX PHARMACEUTICALS INC - ELOX STOCK NEWS

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Eloxx Pharmaceuticals, Inc. (NASDAQ: ELOX) is a clinical-stage biopharmaceutical company focused on the development of novel RNA-modulating drug candidates designed to treat rare and ultra-rare premature stop codon diseases. Premature stop codons are genetic mutations that disrupt protein synthesis, leading to severe genetic disorders. With over 1,800 identified rare diseases caused by these mutations, Eloxx is at the forefront of innovative genetic therapies.

The company's lead product candidate, ELX-02, is a small molecule drug designed to restore production of full-length functional proteins. Currently in Phase 2 clinical development, ELX-02 has shown promise in treating Alport syndrome, a genetic disorder characterized by kidney disease, hearing loss, and eye abnormalities.

Recent advancements include confirmation of ELX-02's disease-modifying potential in Alport syndrome, with positive results from patient biopsies in clinical trials. Eloxx has also submitted an Investigational New Drug (IND) application to the U.S. FDA for ELX-02, aiming to include U.S.-based sites in its pivotal trials.

Additionally, Eloxx is developing ZKN-013, a TURBO-ZM™ based molecule for treating recessive dystrophic epidermolysis bullosa (RDEB) and other genetic conditions. The company has initiated strategic partnerships and aims to begin patient dosing by the end of 2023.

Financially, Eloxx reported a net loss of $3.6 million for Q3 2023 but has shown a decrease in overall R&D and administrative expenses compared to the previous year. The company is focused on improving its liquidity position and raising additional capital to fund operations through 2023 and beyond.

Eloxx continues to leverage its TURBO-ZM™ chemistry platform to develop novel Ribosome Modulating Agents (RMAs) and maintain its commitment to addressing the unmet medical needs of patients with rare genetic disorders. For the latest updates and detailed information, visit www.eloxxpharma.com.

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Eloxx Pharmaceuticals (Nasdaq: ELOX) has secured a debt facility of up to $30 million from Hercules Capital, of which $12.5 million has been drawn to fully repay existing debts. The remaining funds will be available in tranches based on specific clinical milestones. This non-dilutive financing is aimed at advancing Eloxx’s product pipeline, notably ELX-02, currently in Phase 2 trials for cystic fibrosis. CEO Sumit Aggarwal expressed confidence in the partnership with Hercules to support their clinical and preclinical programs.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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FAQ

What is the current stock price of ELOXX PHARMACEUTICALS (ELOX)?

The current stock price of ELOXX PHARMACEUTICALS (ELOX) is $0.000001 as of December 20, 2024.

What is the market cap of ELOXX PHARMACEUTICALS (ELOX)?

The market cap of ELOXX PHARMACEUTICALS (ELOX) is approximately 314.0.

What is Eloxx Pharmaceuticals' primary focus?

Eloxx Pharmaceuticals focuses on developing RNA-modulating drug candidates to treat rare and ultra-rare premature stop codon diseases.

What is ELX-02?

ELX-02 is Eloxx's lead product candidate, a small molecule drug designed to restore production of full-length functional proteins, currently in Phase 2 clinical development for treating Alport syndrome.

What is the significance of premature stop codons?

Premature stop codons are genetic mutations that disrupt protein synthesis, leading to severe genetic disorders. Eloxx targets these mutations to restore protein production.

What are the recent advancements with ELX-02?

ELX-02 has shown disease-modifying potential in clinical trials for Alport syndrome, with positive results in patient biopsies and an IND submission to the FDA for further trials.

What is ZKN-013?

ZKN-013 is a TURBO-ZM™ based molecule under development by Eloxx for treating recessive dystrophic epidermolysis bullosa (RDEB) and other genetic conditions.

How is Eloxx Pharmaceuticals performing financially?

Eloxx reported a net loss of $3.6 million for Q3 2023, with decreased R&D and administrative expenses compared to the previous year. The company is focused on improving liquidity and raising additional capital.

What is the TURBO-ZM™ platform?

The TURBO-ZM™ platform is Eloxx's innovative chemistry technology platform used to develop novel Ribosome Modulating Agents (RMAs) for treating genetic disorders.

What are the challenges Eloxx Pharmaceuticals is facing?

Eloxx is focused on improving its liquidity position, raising additional capital, and maintaining compliance with Nasdaq listing requirements.

What are Eloxx's future plans?

Eloxx plans to advance ELX-02 into pivotal trials for Alport syndrome, initiate clinical studies for ZKN-013, and continue leveraging their TURBO-ZM™ platform for new therapies.

Where can I find more information about Eloxx Pharmaceuticals?

For more information, visit Eloxx Pharmaceuticals' official website at www.eloxxpharma.com.

ELOXX PHARMACEUTICALS INC

Nasdaq:ELOX

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314
2.81M
5.98%
19.59%
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Biotechnology
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United States of America
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