Shares of Eloxx Pharmaceuticals, Inc. (ELOX), a clinical-stage biopharmaceutical company developing small-molecule therapies for genetic diseases caused by nonsense mutations, fell over 31% after the company announced the pricing of a $66 million public offering and its uplisting to the Nasdaq Capital Market.
The financing includes 2,975,000 shares of common stock at $11.00 per share and 3,025,000 pre-funded warrants priced at $10.99 each, equal to the share price less the $0.01 exercise fee. All securities are being offered directly by Eloxx. Gross proceeds are expected to total $66 million before expenses.
Trading of Eloxx's common stock on Nasdaq began June 9, 2026, under the ticker "ELOX". The offering is scheduled to close on June 10, subject to customary closing conditions. Leerink Partners and Guggenheim Securities are acting as joint bookrunning managers, with LifeSci Capital as passive bookrunner.
Eloxx develops therapies designed to promote ribosomal readthrough of premature stop codons, enabling production of full-length proteins in patients with rare genetic disorders. The company stated that the proceeds will support ongoing clinical development and corporate operations.
The company recently implemented a 1-for-11 reverse stock split on June 1, 2026.
ELOX closed Monday's trading at $6.20, down 31.11%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.