Eloxx Pharmaceuticals Announces $2M Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
Portfolio Pulse from Benzinga Newsdesk
Eloxx Pharmaceuticals, Inc. (NASDAQ:ELOX) has announced a registered direct offering of 380,590 shares at $5.255 per share, expected to raise approximately $2 million. The company also plans to issue unregistered warrants to purchase an equivalent number of shares at $5.13 per share. The proceeds will be used to advance various projects, including the development of ELX-02 for the treatment of Alport syndrome and other rare kidney diseases.
September 19, 2023 | 12:09 pm
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Eloxx Pharmaceuticals is raising funds through a registered direct offering and the issuance of unregistered warrants. The funds will be used to advance various projects, which could potentially enhance the company's value.
The news of the registered direct offering and the issuance of unregistered warrants is directly related to Eloxx Pharmaceuticals. The funds raised will be used to advance various projects, which could potentially enhance the company's value if successful. However, the impact on the stock price in the short term is uncertain as it depends on the market's perception of the company's future prospects based on these projects.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100