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Eloxx Pharma Says ELX-02 Data Showed Increases In Key Metric

Tanzeel Akhtar

Eloxx Pharmaceuticals (NASDAQ: ELOX) shares spiked higher after the company presented data for its lead investigational drug, ELX-02, at the 42nd European Cystic Fibrosis Society Conference.

ELX-02 is focused on the development for cystic fibrosis and cystinosis patients with diagnosed nonsense mutations.

Cystic fibrosis is caused by the absence or dysfunction of a protein called CFTR that controls the movement of salt and water in an out of cells. ELX-02 has shown increased CFTR function in organoids bearing nonsense alleles representing more than 75 percent of the cystic fibrosis nonsense genotype population.

Eloxx will report top-line data from Phase 2 clinical trial in cystic fibrosis later this year. For now, the Phase 2 protocol has been reviewed and approved by the European Cystic Fibrosis Society-Clinical Trial Network and given a score of “high priority.”

On Thursday afternoon, Eloxx Pharmaceuticals shares traded up 25.7 percent to $11.20.

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