Eloxx Pharmaceuticals Inc (NASDAQ: ELOX) was one of the big losers in yesterday’s trading session. It closed the day with a loss of 30.34%. That was in spite of the company providing an update on its phase 2 clinical program and pipeline of new ERSG compounds
The company announced that phase 2 cystic fibrosis clinical trial for ELX-02 was now dosing patients in Israel and the United States. The company also announced that, it would continue enrolling patients into its worldwide investigator sites. It added that, it expects full enrollment to be completed in Q1 of 2020. It also noted that, Cystic Fibrosis Foundation was offering to fund a part of this trial.
The company also noted that, it is pushing forward with its ERSG pipeline for the treatment of IRD and ADPKD. It stated that, a recent reporting on a major milestone showed that a number of its library compounds had reached retinal disorder-relevant tissue layers and that, they could restore protein production. It added that, there was a plan to do a presentation on this data at the ARVO (Association of Research and Vision and Ophthalmology) meeting between May 3rd and 7th 2020.
The company further announced that, for ADPKD, it had analyzed the three most significant nonsense mutations in a protein and showed noteworthy intensities of read-through for ELX-02. This, it stated, is a major step in the pre-clinical development for IND.
For Cystinosis, the company announced that it had positive data from its first cohort in the phase 2 study of ELX-02, a new treatment for people suffering from nonsense mutation-medicated nephropathic cystinosis.
Looking at its price action, the stock dropped by 30.34% to close the day at $5.28. Volumes in the day stood at 612.93k.
About Eloxx Pharmaceuticals Inc
Eloxx Pharmaceuticals Inc is a biopharma company that creates new treatments for rare premature stop codon diseases. It is based in Waltham, Massachusetts.