Eloxx Pharmaceuticals expects cash to fund operations into 3Q23

The company said, "As of December 31, 2022, we had unrestricted cash and cash equivalents of $19.2 million. In March 2023, we amended the terms of the Hercules Term Loan Agreement and repaid $7.5 million of the outstanding principal. The minimum qualified cash balance requirement was reduced to $2.25 million and Eloxx will be required to make principal payments, plus interest, beginning in September 2023. Assuming that we initiate Phase 3 clinical trial activities in the third quarter of 2023, our expectation is that our current cash position and assuming maintaining compliance with our debt covenants, will be sufficient to fund our operations into the third quarter of 2023."