Eloxx cash reaches $62 million after offering

• Eloxx Pharmaceuticals raised $66 million in gross proceeds through an underwritten public offering and ended Q2 2026 with $62 million in cash.
• The company reported a Q2 2026 net loss of $4.5 million as research and corporate expenses increased.
• Eloxx received FDA clearance for a Phase 2b exaluren trial in Alport syndrome and plans additional clinical studies.

Eloxx Pharmaceuticals (NASDAQ:ELOX) reported second-quarter 2026 results after completing a public offering that generated $66 million in gross proceeds and increased cash reserves to $62 million.

The company’s capital position improved after the offering, with net proceeds of approximately $58.3 million, while Q2 net loss increased to $4.5 million from $1.9 million a year earlier.

Eloxx received FDA clearance to begin a Phase 2b trial of exaluren in nonsense mutation Alport syndrome, with enrollment targeted to begin in Q3 2026 and topline 16-week data expected by mid-2027.

The company said its cash and cash equivalents of $62 million as of June 30, 2026 are expected to fund operations into mid-2028, including planned data readouts for exaluren in Alport syndrome and autosomal dominant polycystic kidney disease.

Elsewhere, Eloxx received orphan drug designation for exaluren in Alport syndrome in the United States and European Union, while the European Commission granted orphan designation for exaluren in ADPKD in July 2026.

The company plans to begin a Phase 2 ADPKD trial in 2027 as it continues developing exaluren for diseases caused by nonsense mutations.