Eloxx Posts $4.5M Q2 Loss, $62M Cash; Phase 2b Alport Trial Set for Q3
Summary
Eloxx reported a Q2 net loss of $4.5 million, up from $1.9 million a year ago, as R&D spending ramps to $2.8 million. The company ended June with $62 million in cash, enough to fund operations through key data readouts for both Alport syndrome and ADPKD. A Phase 2b trial for exaluren in nonsense mutation Alport syndrome is set to start this quarter, with topline data expected by mid-2027. The European Commission granted orphan drug designation for exaluren in ADPKD, and a Phase 2 trial in that indication is planned for 2027. This follows the $66 million public offering and Nasdaq uplisting in June, which transformed the balance sheet. The cash runway and clear clinical timelines reduce near-term financing risk and set up multiple catalysts over the next 18 months.
At the time of this announcement, ELOX was trading at $19.18 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $804.4K. The 52-week trading range was $0.02 to $19.96. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.