Eloxx Pharma Up 45% So Far In Dec., What Next?

(RTTNews) - Shares of Eloxx Pharmaceuticals Inc. (ELOX) are up over 45% so far this month as it awaits the phase II topline data of its lead drug candidate ELX-02 in nephropathic cystinosis.

Nephropathic cystinosis is the most common and severe form of cystinosis, a rare autosomal recessive lysosomal storage disorder characterized by kidney dysfunction.

ELX-02 is under a phase II trial in patients with nephropathic cystinosis with at least 1 nonsense mutation in the cystinosin gene. Last month, when announcing its business update, the Company had revealed that it is on track to report topline data from the phase II nephropathic cystinosis trial results this quarter.

A phase II program of ELX-02 consisting of two trials in cystic fibrosis is also underway - one in Europe and Israel, and the second in the U.S. The topline data from the cystic fibrosis program is expected in the first half of 2020.

As of September 30, 2019, Eloxx had cash, cash equivalents and marketable securities of $64.9 million, expected to be sufficient to fund operations into the first quarter of 2021.

ELOX has traded in a range of $2.87 to $14.74 in the last 1 year. The stock closed Friday's (Dec.20) trading at $7.22, up 4.34%.