Eloxx Pharma plunges on stock offering

Eloxx Pharmaceuticals

14/05/2021 10:51

** Eloxx Pharmaceuticals  ELOX.O  shares down >25% premarket
as co looks to raise equity
    ** Biopharma after the bell Thurs launched stock offering to
fund R&D, working capital and general corp purposes  urn:newsml:reuters.com:*:nGNX7F0k8w
    ** Sources say sole bookrunner B. Riley marketing ~$40 mln
deal
    ** ELOX has ~47.9 mln shares outstanding and ~47.3 mln of
free float, per Refinitiv data
    ** Co's lead drug candidate, ELX-02, currently in Phase 2
clinical trials for treatment of cystic fibrosis
    ** Shares on Thurs closed at $1.70, down 57% YTD 

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))