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ELOX Eloxx Pharmaceuticals

Eloxx Pharmaceuticals, Inc. engages in the development of novel ribonucleic acid modulating drug candidates. The firm focuses on the the formulation of medicines to treat rare and ultra-rare premature stop codon diseases. It operates through the United States and Israel geographical segments. Its product includes ELX-02, a small molecule drug designed to restore production of full-length functional proteins which treats cystic fibrosis and cystinosis. The company was founded by Silvia Noiman on December 19, 2017 and is headquartered in Waltham, MA.

Company profile

Ticker
ELOX
Exchange
CEO
Robert Ward
Employees
Incorporated
Location
Fiscal year end
Former names
NAVA LEISURE USA INC, SENESCO TECHNOLOGIES INC, Sevion Therapeutics, Inc.
SEC CIK
IRS number
841368850

ELOX stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

7 May 21
24 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
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Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
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Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 18.3M 18.3M 18.3M 18.3M 18.3M 18.3M
Cash burn (monthly) 2.14M 634.75K 2.8M 2.34M 2.56M 1.99M
Cash used (since last report) 5.97M 1.77M 7.82M 6.53M 7.14M 5.56M
Cash remaining 12.33M 16.53M 10.49M 11.78M 11.16M 12.74M
Runway (months of cash) 5.8 26.0 3.7 5.0 4.4 6.4

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
25 May 21 Neil S. Belloff Common Stock Payment of exercise Dispose F No No 1.39 1,835 2.55K 31,595
25 May 21 Neil S. Belloff Common Stock Option exercise Aquire M No No 0 6,250 0 33,430
25 May 21 Neil S. Belloff RSU Common Stock Option exercise Dispose M No No 0 6,250 0 68,750
19 May 21 Alan Edmund Walts Stock Option Common Stock Grant Aquire A No No 1.48 3,334 4.93K 3,334
19 May 21 Avnur Zafrira Stock Option Common Stock Grant Aquire A No No 1.48 20,000 29.6K 20,000
19 May 21 Ran Nussbaum Stock Option Common Stock Grant Aquire A No No 1.48 20,000 29.6K 20,000
19 May 21 Kariv Tomer Stock Option Common Stock Grant Aquire A No No 1.48 20,000 29.6K 20,000

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
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Financial report summary

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Risks
  • We depend heavily on the success of our lead product candidate, ELX-02. If ELX-02 fails during development or suffers any material delays, it may adversely impact the commercial viability of ELX-02 and our business.
  • We and our collaborating partners may be subject, directly or indirectly, to federal and state healthcare fraud and abuse and false claims laws and regulations. If we or our collaborating partners are unable to comply, or have not fully complied, with such laws, we could face substantial penalties.
  • Positive results from preclinical or in vitro and in vivo testing of ELX-02 are not necessarily predictive of the results of future clinical trials of ELX-02. If we cannot achieve positive results in our clinical trials for ELX-02, we may be unable to successfully develop, obtain regulatory approval for and commercialize ELX-02.
  • Our product candidates, including ELX-02, may cause adverse events or have other properties that could delay or prevent their regulatory approval or limit the scope of any approved label or market acceptance.
  • Our clinical trials may be costly, lengthy, time-consuming and difficult to design and implement, may result in unforeseen costs and could be delayed or terminated, which may have a material adverse effect on our business, results of operations and financial condition.
  • Even though we have received orphan drug designation from the FDA for ELX-02 for the treatment of cystic fibrosis, cystinosis, MPS I, and Rett syndrome, we may not be able to obtain orphan drug marketing exclusivity for ELX-02 or any of our other potential product candidates for other indications.
  • We may find it difficult to recruit and enroll patients in our clinical trials, which could cause significant delays in the completion of such trials or may cause us to abandon one or more clinical trials.
  • Because our clinical trials depend upon third-party researchers, scientists and consultants, the results of our clinical trials and such research activities are subject to delays and other risks that are, to a certain extent, beyond our control, which could impair our clinical development programs and our competitive position.
  • Interim, “topline” and preliminary data from our clinical trials that we announce or publish from time to time may change as more patient data become available and are subject to audit and verification procedures that could result in material changes in the final data.
  • The regulatory approval processes of the FDA and comparable regulatory authorities are lengthy, time consuming and inherently unpredictable, and if we are ultimately unable to obtain regulatory approval for our product candidates, our business will be substantially harmed.
  • If we are unable to establish sales and marketing capabilities or enter into agreements with third parties to market and sell any of our product candidates that obtain regulatory approval, we may be unable to generate any revenue.
  • If we are unable to develop and commercialize our product candidates, our business will be adversely affected.
  • We have incurred significant operating losses since our inception and anticipate that we will continue to incur substantial operating losses for the foreseeable future. We may never achieve or maintain profitability.
  • We will need substantial additional funding. If we are unable to raise capital when needed, we would be forced to delay, reduce or eliminate our product development programs or commercialization efforts.
  • Our stockholders may not realize a benefit from our acquisition of Zikani (the “Merger”) commensurate with the ownership dilution they will experience in connection with the Merger.
  • We continue to seek opportunities to expand our business through strategic initiatives. Our efforts to identify opportunities or complete transactions that satisfy our strategic criteria may not be successful, and we may not realize the anticipated benefits of any completed acquisition, collaboration or other strategic transaction.
  • We could be subject to additional tax liabilities.
  • Our business could be adversely affected by the effects of widespread public health epidemics and other factors beyond our control.
  • We may be subject to numerous and varying privacy and security laws, and our failure to comply could result in penalties and reputational damage.
  • Security breaches, cyber-attacks, or other disruptions could expose us to liability and affect our business and reputation.
  • We currently rely, and plan to rely on in the future, third parties to conduct and support our preclinical studies and clinical trials. If these third parties do not properly and successfully carry out their contractual duties or meet expected deadlines, we may not be able to obtain regulatory approval of or commercialize our product candidates.
  • Our future success depends on our ability to retain key employees, consultants and advisors and to attract, retain and motivate qualified personnel.
  • If we infringe the rights of third parties, we could be prevented from selling products, forced to pay damages and required to defend against litigation which could result in substantial costs and may have a material adverse effect on our business, results of operations and financial condition.
  • We rely on confidentiality agreements that could be breached and may be difficult to enforce which could have a material adverse effect on our business and competitive position.
  • If we cannot meet requirements under our license agreement, we could lose the rights to our product candidates, which could have a material adverse effect on our business.
  • We may become involved in lawsuits to protect or enforce our intellectual property, which could be expensive, time consuming and unsuccessful and have an adverse effect on the success of our business.
  • We received Israeli government grants for our research and development activities and programs. The terms of such grants may require us, in the future, to pay royalties and under certain circumstances, penalties in addition to payment of royalties.
  • We may become subject to claims for remuneration or royalties for assigned service invention rights by our employees, which could result in litigation and adversely affect our business.
  • Our stock price may be volatile, and purchasers of our common stock could incur substantial losses.
  • Maintaining and improving our financial controls and the requirements of being a public company may strain our resources, divert management’s attention and affect our ability to attract and retain qualified board members.
  • Our ability to use our net operating losses to offset future taxable income may be subject to certain limitations.
  • Our directors, executive officers, principal stockholders and affiliated entities own a significant percentage of our capital stock, and they may make decisions that an investor may not consider to be in the best interests of our stockholders.
  • Future sales and issuances of our securities or rights to purchase securities, including pursuant to our equity incentive plans, could result in additional dilution of the percentage ownership of our stockholders and could cause the prices of our securities to fall.
Management Discussion
  • Research and development expenses were $4.1 million for the three months ended March 31, 2021 compared to $4.8 million for the same period in 2020, a decrease of $0.7 million. The decrease was primarily related to a decrease in salaries and other personnel related costs of $0.5 million, and a $0.2 million decrease in expenses related to subcontractors, consultants and advisors in connection with continued development of ELX-02 due to the impact of the COVID-19 pandemic as well as realignment actions taken by our Board of Directors in February 2020, including reductions in research and development headcount and in external spending.  
  • General and administrative expenses were $4.3 million for the three months ended March 31, 2021, compared to $5.0 million for the same period in 2020, a decrease of $0.7 million. The decrease was primarily related to a $0.6 million decrease in stock-based compensation expense and a $0.3 million decrease in in salaries and other personnel related costs, partially offset by a $0.2 million increase in expenses attributable principally to infrastructure related costs including legal, accounting and other professional fees. These decreases were all primarily related to realignment actions taken by our Board of Directors in February 2020, which included reductions in general and administrative headcount and in external spending.  
  • Restructuring charges of $4.0 million for the three months ended March 31, 2020 resulted from the leadership and organizational realignment during the first quarter of 2020.  The total included $1.9 million related to contract termination and employee separation costs, primarily severance and benefits, and $2.1 million of stock-based compensation, relating to accelerated vesting of stock awards.  There were no similar charges during the three months ended March 31, 2021.
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