Eloxx Pharmaceuticals 15% Higher After FDA Fast Track Designation

By Michael Dabaie

Eloxx Pharmaceuticals Inc. shares were up 15% to $1.60 after the U.S. Food and Drug Administration gave fast track designation to a cystic fibrosis drug candidate.

Eloxx's ELX-02 is a drug candidate intended to treat cystic fibrosis patients with nonsense mutations. ELX-02 is currently in Phase 2 clinical trials in CF patients affected by nonsense mutations in the CF transmembrane conductance regulator gene for whom there are no effective disease modifying therapies.

Shares are still down 60% in the year-to-date period.

FDA grants fast track designation to drugs being developed for an unmet medical need.

"The ability to have greater access to the FDA and their guidance on the regulatory pathway for ELX-02 can help provide the ability to work with the urgency needed on behalf of CF patients with nonsense mutations," said Chief Executive Sumit Aggarwal.

Write to Michael Dabaie at [e-mail]

(END) Dow Jones Newswires

September 09, 2021 15:27 ET (19:27 GMT)

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