Eloxx Pharmaceuticals Announces Uplisting to Nasdaq and Pricing of $50 Million Public Offering of Common Stock

Eloxx Pharmaceuticals (Nasdaq:ELOX) today announced the pricing of an underwritten public offering of 5,130,000 shares of its common stock at a price to the public of $9.75 per share. The gross proceeds to Eloxx from the offering are expected to be approximately $50 million, before deducting the underwriting discounts and commissions and offering expenses. The offering is expected to close on or about April 30, 2018, subject to customary closing conditions.

As quoted in the press release:

All shares in the offering are being sold by Eloxx. Eloxx anticipates using the net proceeds from the offering to fund part of the continued clinical development of ELX-02, and for working capital and general corporate purposes.

Eloxx’s common stock has been approved for listing on the Nasdaq Global Market and is expected to begin trading thereon under the symbol “ELOX” on Thursday, April 26, 2018. Eloxx’s common stock will no longer trade on the over-the-counter securities market.

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.