Eye Catching Stock: Eloxx Pharmaceutical (NASDAQ:ELOX)

Eloxx Pharmaceutical (NASDAQ:ELOX) stock observed trading -54.17% off 52-week high price. On the other end, the stock has been noted 10.13% away from low price over the last 52-weeks. The stock disclosed a move of -11.24% away from 50 day moving average and -25.76% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.39% off 20-day moving average. It has market cap of $336.13M.

 Eloxx Pharmaceutical (NASDAQ:ELOX) announced the pricing of an underwritten public offering of 3,333,334 shares of its common stock at a price to the public of $9.00 per share. The gross proceeds to Eloxx from the offering are expected to be approximately $30.0 million, before deducting the underwriting discounts and commissions and offering expenses. The offering is expected to close on or about June 24, 2019, subject to customary closing conditions. In addition, Eloxx has granted the underwriters a 30-day option to purchase up to 500,000 additional shares of its common stock at the public offering price, less the underwriting discounts and commissions. All shares in the offering are being sold by Eloxx.

Eloxx anticipates using the net proceeds from the offering to fund the continued clinical development of ELX-02 in cystic fibrosis and cystinosis, to accelerate development of early-stage programs and for working capital and other general corporate purposes.

Citigroup and Piper Jaffray & Co. are acting as joint book-running managers for the offering.  The USA based company Eloxx Pharmaceuticals moved with change of 0.21% to $9.35 with the total traded volume of 273828 shares in recent session versus to an average volume of 51.14K. The stock was observed in the 5 days activity at -4.30%. The one month performance of stock was -12.04%. ELOX’s shares are at -20.09% for the quarter and driving a -50.56% return over the course of the past year and is now at -22.15% since this point in 2018.  Right now the stock beta is 1.77. The average volatility for the week and month was at 4.73% and 10.74% respectively. There are 35.95M shares outstanding and 24.56M shares are floated in market.

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