Eloxx Pharma tanks after mid-stage trial of cystic fibrosis treatment fails

Eloxx Pharmaceuticals

14/09/2022 22:14

** Shares of drug developer Eloxx Pharmaceuticals  ELOX.O 
fall 50% to 19 cents in aftermarket trade
    ** Shares tumble after co's mid-stage trial of treatment,
ELX-02, for class 1 cystic fibrosis failed to meet key efficacy
goals  urn:newsml:reuters.com:*:nGNX1JK6QX
    ** Efficacy goals of trial included changes from baseline in
sweat chloride concentration and percent forced expiratory
volume
    ** ELX-02 was well tolerated with no drug-related serious
adverse events observed
    ** Co says it will work closely with CF Foundation to
determine the next steps in the development of ELX-02 for CF
    ** "Look forward to initiating a proof-of-concept trial for
ELX-02 in Alport syndrome, a rare kidney disease, later this
year" - CEO Sumit Aggarwal
    ** Class 1 cystic fibrosis is a genetic that affects lungs,
digestive tract and other organs
    ** Up to last close, stock was down 46.2% YTD 

 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((Nandhini.srinivasan@thomsonreuters.com))