Eloxx Pharmaceuticals Announces Completion of Public Offering of Common Stock and Exercise in Full of Underwriters’ Option to Purchase Additional Shares

WALTHAM, Mass., April 30, 2018 -- Eloxx Pharmaceuticals, Inc. (“Eloxx”) (Nasdaq:ELOX) today announced the completion of its previously announced underwritten public offering of 5,899,500 shares of its common stock at a price to the public of $9.75 per share, including 769,500 shares sold pursuant to the exercise in full of the underwriters' option to purchase additional shares. All of the shares were sold by Eloxx. The gross proceeds from the offering were approximately $57.5 million, before deducting the underwriting discounts and commissions and offering expenses. Eloxx anticipates using the net proceeds from the offering to fund part of the continued clinical development of ELX-02, and for working capital and general corporate purposes.

Citigroup and Piper Jaffray & Co. acted as joint book-running managers for the offering. Canaccord Genuity acted as lead co-manager for the offering. SunTrust Robinson Humphrey acted as co-manager for the offering.

The shares of common stock described above were offered by Eloxx pursuant to a shelf registration statement on Form S-3 (File No. 333-224207) that was filed by Eloxx with the U.S. Securities and Exchange Commission (SEC) on April 10, 2018 and that was declared effective by the SEC on April 20, 2018. A final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained by request from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146; or from Piper Jaffray & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attention: Prospectus Department or by e-mail at [email protected] or by phone at (800) 747-3924.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Eloxx Pharmaceuticals

Eloxx Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing novel RNA-modulating drug candidates that are designed to treat rare and ultra-rare premature stop codon diseases. Eloxx’s lead product candidate, ELX-02, is a small molecule drug candidate designed to restore production of full-length functional proteins. ELX-02 is in the early stages of clinical development focusing on cystic fibrosis and cystinosis. ELX-02 is an investigational drug that has not been approved by any global regulatory body. Eloxx is headquartered in Waltham, MA, with R&D operations in Rehovot, Israel.

Forward-Looking Statements

Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements may be identified by introductory words such as "may," "expects," "plan," "believe," "will," "achieve," "anticipate," "would," "should," "subject to" or words of similar meaning, or by the fact that they do not relate strictly to historical or current facts. Such forward-looking statements involve risks and uncertainties and actual results could differ materially from any forward-looking statements expressed or implied herein. As a result, this press release should be read in conjunction with the Company’s periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update or revise such forward-looking statements to reflect subsequent events or circumstances.

Corporate Contact:
Gregory Weaver
Eloxx Pharmaceuticals, Inc.
Chief Financial Officer
[email protected]
781-577-5300 x100

Investor Contact:
Barbara Ryan
203-274-2825
[email protected]