Eloxx Pharmaceuticals Announces Proposed Public Offering of Common Stock

Eloxx Pharmaceuticals (OTCQB:ELOX) today announced that it intends to offer and sell, subject to market and other conditions, 5,000,000 shares of its common stock in an underwritten public offering. Eloxx expects to grant the underwriters an option to purchase up to an additional 750,000 shares of its common stock. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

As quoted in the press release:

Eloxx has applied to list its common stock on the Nasdaq Global Market under the symbol “ELOX.”

All shares in the proposed offering are to be sold by Eloxx. Net proceeds from the offering are to be used to fund research and development, working capital and general corporate purposes.

Citigroup and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Canaccord Genuity is acting as lead co-manager for the offering. SunTrust Robinson Humphrey is acting as co-manager for the offering.

Click here to read the full press release.