Eloxx Pharmaceuticals announces 1-for-40 reverse stock split

Eloxx Pharmaceuticals announced that its Board of Directors has approved a 1-for-40 reverse stock split of the Company’s common stock. The reverse stock split will become effective at 5:00 p.m. Eastern Time today, December 1, 2022, after close of trading on The Nasdaq Capital Market. The Company’s common stock is expected to commence trading on a split-adjusted basis when the markets open on December 2, 2022 under the existing trading symbol "ELOX." The new CUSIP number for the Company’s common stock following the reverse stock split will be 29014R202. The primary goal of the reverse stock split is to increase the per share market price of the Company’s common stock to meet the minimum per share bid price requirement for continued listing on The Nasdaq Capital Market. The reverse stock split was approved by the Company’s stockholders at a special meeting of stockholders held on November 30, 2022. On November 30, 2022, following the special meeting, the Company’s Board of Directors approved the reverse stock split at the ratio of 1-for-40.