Eloxx Pharmaceuticals Inc (NASDAQ:ELOX) Stock is One The verge Of Hitting New Low
On Wednesday, the Eloxx Pharmaceuticals Inc (NASDAQ:ELOX) stock emerged as one of the notable losers as it declined by as much as 17% amidst a selloff. The decline in the stock came about after the company provided an update with regards to enrolments for the current Phase 2 clinical trial of its product ELX 02.
The product is meant for treating patients who suffer from cystic fibrosis that has at least a solitary G542X allele. The company announced that as per the level of enrolments that have been completed so far, it expects to present the data with regards to first four treatment arms at some point in the fourth quarter of 2021.
However, the news did not seem to come as any kind of positive for investors and the stock suffered from a selloff. It might be the case that investors were expecting the data to be presented earlier than the fourth quarter. In light of the latest decline in the stock, it might be a good move from investors to keep an eye on the Eloxx stock and see if the stock eventually recovers over the coming days. It should be needed a fifth treatment arm had also been added to the program.
Market Reaction:
On Wednesday, ELOX stock fell 17.10% at $1.60 with more than 4.34 million shares, compared to its average volume of 1.96 million shares. The stock had moved within a range of $1.5600 – 1.9100 after opening the trade at $1.91. Over the past 52-week, the stock has been trading within a range of $1.3400 – 6.7700.
