Eloxx Pharmaceuticals (ELOX) Q2 2026 earnings summary

Executive summary

• Advanced exaluren for rare kidney diseases and licensed ZKN-013 to Almirall for rare skin diseases, with eligibility for up to $470 million in milestones and royalties.

• Completed a $66.0 million underwritten public offering and uplisted to Nasdaq, raising $58.3 million net in June 2026.

• Cash and cash equivalents were $62.0 million as of June 30, 2026, expected to fund operations into mid-2028.

• Completed a Phase 2a trial for exaluren in Alport Syndrome; planning Phase 2b trial in Q3 2026 and Phase 2 trial in ADPKD in 2027.

• Board strengthened with two new directors with biotech and financial expertise.

Financial highlights

• Net loss was $4.5 million for Q2 2026 ($0.66 per share), compared to $1.9 million ($5.45 per share) in Q2 2025.

• Net loss for H1 2026 was $8.3 million, compared to $3.6 million for H1 2025.

• R&D expenses rose to $2.8 million and G&A expenses to $1.6 million in Q2 2026, driven by higher clinical and personnel costs.

• No product revenue recognized; only license revenue from Almirall in prior periods.

• Cash and cash equivalents totaled $62.0 million at quarter end, including $58.3 million in net proceeds from the June 2026 offering.

Outlook and guidance

• Cash position expected to fund operations into mid-2028.

• Phase 2b trial for exaluren in NMAS to start in Q3 2026, with topline data by mid-2027 and final readout by end of 2027.

• Phase 2 trial in ADPKD planned for 2027, with topline data anticipated by mid-2028.

• Anticipates continued operating losses and need for additional capital until commercialization.