Eloxx Pharmaceuticals Announces Pricing of Public Offering of Common Stock

Eloxx Pharmaceuticals (NASDAQ:ELOX) has announced the pricing of its public offering of common stock at US$9 per share for over 3.3 million shares totalling US$30 million.

As quoted in the press release:

 The offering is expected to close on or about June 24, 2019, subject to customary closing conditions. In addition, Eloxx has granted the underwriters a 30-day option to purchase up to 500,000 additional shares of its common stock at the public offering price, less the underwriting discounts and commissions. All shares in the offering are being sold by Eloxx.

Eloxx anticipates using the net proceeds from the offering to fund the continued clinical development of ELX-02 in cystic fibrosis and cystinosis, to accelerate development of early-stage programs and for working capital and other general corporate purposes.

Citigroup and Piper Jaffray & Co. are acting as joint book-running managers for the offering.

Click here to read the full press release.