Eloxx Pharma rises as B Riley starts with 'buy', receives funding

Eloxx Pharmaceuticals

27/05/2021 14:26

** Biopharma  ELOX.O  shares rise 5% to $1.48 premarket
    ** B Riley Securities starts coverage on ELOX with "buy"
rating and price target of $5
    ** Brokerage says co is clinical-stage biotech emerging as a
leader in the ribosomal RNA-targeted genetic therapies,
particularly following the recent acquisition of Zikani
Therapeutics bringing in new management and technology 
    ** B Riley sees ELOX's equity to bounce from current
depressed levels as the turnaround takes full effect 
    ** Eloxx also receives an award of up to $2.6 mln from the
Cystic Fibrosis Foundation; award to help identify optimized
oral ribosome modulating agents for further development in the
treatment of cystic fibrosis patients with nonsense mutations
 urn:newsml:reuters.com:*:nGNX1qyM3j
    ** As of Wednesday's close, ELOX shares have more than
halved in value this year

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((Shreyashi.Sanyal@thomsonreuters.com;))