Eloxx reports Q2 2026 results after $66 million raise and Nasdaq uplisting

Eloxx Pharmaceuticals reported second quarter 2026 results and a business update on August 11, 2026, tied to progress on its lead candidate, exaluren, in rare kidney diseases.

The company said it received FDA clearance under its Investigational New Drug application to proceed with a Phase 2b clinical trial of exaluren in patients with nonsense mutation Alport syndrome, and plans to initiate the trial in the third quarter of 2026.¹ Eloxx said it anticipates topline data from the initial 16-week placebo-controlled portion of the study by mid-2027, with the final readout by the end of 2027.¹ Exaluren already carries orphan drug designation from the FDA and European Commission for the treatment of Alport syndrome.¹

On the second kidney indication, the European Commission granted orphan medicinal product designation in the European Union for exaluren for the treatment of ADPKD¹ in July 2026. Eloxx said it intends to begin a "Phase 2 clinical trial of exaluren in nonsense mutation ADPKD" in 2027, with topline data expected by mid-2028, according to the release.

The company also disclosed board changes, noting it appointed Stephen W. Webster and Nina Kjellson to its board of directors in May 2026.¹

On financing, Eloxx completed an underwritten public offering of 2,975,000 shares of common stock at $11.00 per share, along with pre-funded warrants for up to 3,025,000 shares, raising gross proceeds of about $66.0 million and net proceeds of about $58.3 million.¹ It also completed its uplisting to the Nasdaq Capital Market in June 2026, where its stock began trading under the symbol "ELOX."¹

As of June 30, 2026, Eloxx held cash and cash equivalents of $62.0 million, including approximately $58.3 million in net proceeds from the June 2026 offering.¹ The company said this cash position is expected to fund operations into mid-2028.¹