Eloxx Pharmaceuticals Prices $66 Million Offering And Uplisting To Nasdaq

Eloxx Pharmaceuticals shares fell more than 31% after the company announced pricing for a $66 million public offering. The capital raise is likely dilutive and signals financing pressure at the clinical-stage biotech. The move is material for the stock but is unlikely to have broad market impact.

Analysis

Eloxx Pharmaceuticals shares fell more than 31% after the company announced pricing for a $66 million public offering. The capital raise is likely dilutive and signals financing pressure at the clinical-stage biotech. The move is material for the stock but is unlikely to have broad market impact.