Financing ·
Eloxx Pharmaceuticals reported second quarter 2026 financial results and announced the completion of an underwritten…
ELOXDEloxx Pharmaceuticals, Inc.
Eloxx Pharmaceuticals reported second quarter 2026 financial results and announced the completion of an underwritten public offering that raised $66.0 million in gross proceeds ($58.3 million net) from selling 2,975,000 shares at $11.00 per share. The company also completed its uplisting to the Nasdaq Capital Market and holds $62.0 million in cash with no debt as of June 30, 2026. Management plans to initiate a Phase 2b clinical trial for exaluren in nonsense mutation Alport syndrome in Q3 2026 and a Phase 2 trial for ADPKD in 2027. The company incurred a net loss of $4.5 million ($0.39 per share) for the quarter, with R&D expenses rising to $2.8 million due to increased clinical trial activity. Additionally, the European Commission granted orphan designation for exaluren in ADPKD, and two new directors were appointed to the board.