ELOX
ELOXCIK 0001035354
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ELOX files S-1/A for $30.5M primary offering at $11.00/share, with $54.2M net proceeds and $43.1M implied market cap
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Latest financial statements
From 10-Q filed Aug 11, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except share and per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Operating expenses: | ||||
| Research and development | 2,840 | 898 | 4,500 | 1,408 |
| General and administrative | 1,610 | 684 | 3,746 | 1,396 |
| Total operating expenses | 4,450 | 1,582 | 8,246 | 2,804 |
| Loss from operations | (4,450) | (1,582) | (8,246) | (2,804) |
| Other expense, net | 52 | 309 | 10 | 796 |
| Net loss | (4,502) | (1,891) | (8,256) | (3,600) |
| Net loss per share, basic and diluted | (0.66) | (5.45) | (1.48) | (10.39) |
| Weighted average number of shares of common stock and pre-funded warrants used in computing net loss per share, basic and diluted | 6,789,165 | 347,000 | 5,592,596 | 346,482 |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except share and per share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 61,960 | 4,785 |
| Restricted cash | 6 | 6 |
| Prepaid expenses and other current assets | 1,422 | 479 |
| Total current assets | 63,388 | 5,270 |
| Total assets | 63,388 | 5,270 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| Current liabilities: | ||
| Accounts payable | 3,028 | 2,713 |
| Accrued expenses | 2,047 | 1,613 |
| Advances from collaboration partners, net of debt discount | 11,831 | 11,816 |
| Current portion of long-term debt | — | 1,000 |
| Accrued interest on debt | — | 35 |
| Warrant liabilities | 62 | — |
| Total current liabilities | 16,968 | 17,177 |
| Commitments and contingencies | ||
| Stockholders’ equity (deficit): | ||
| Preferred stock, $0.01 par value per share, 5,000,000 shares authorized, no shares issued or outstanding as of June 30, 2026 and December 31, 2025 | — | — |
| Common stock, $0.01 par value per share, 100,000,000 and 500,000,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively, 4,036,398 and 435,432 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 40 | 4 |
| Additional paid-in capital | 355,216 | 288,669 |
| Accumulated deficit | (308,836) | (300,580) |
| Total stockholders’ equity (deficit) | 46,420 | (11,907) |
| Total liabilities and stockholders’ equity (deficit) | 63,388 | 5,270 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | (8,256) | (3,600) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 141 | 36 |
| Amortization of debt discount | 15 | 236 |
| Gain on extinguishment of accrued interest | (56) | — |
| Imputed interest expense on 2025 bridge loans | — | 137 |
| Change in fair value of warrant liabilities | 62 | — |
| Changes in operating assets and liabilities: | ||
| License fee receivable | — | 2,359 |
| Unbilled receivable | — | 359 |
| Prepaid expenses and other current assets | (943) | (294) |
| Accounts payable | (467) | (475) |
| Accrued expenses | (759) | 315 |
| Accrued interest on debt | 21 | 378 |
| Net cash used in operating activities | (10,242) | (549) |
| Cash flows from financing activities: | ||
| Proceeds from the June 2026 public offering, net of issuance costs | 60,295 | — |
| Proceeds from issuance of pre-funded warrants under the Coastlands and Domicilium Securities Purchase Agreements, net of issuance costs | 6,991 | — |
| Repayment of outstanding debt obligations | — | (1,255) |
| Proceeds from debt financing obligations | — | 2,265 |
| Exercise of pre-funded warrants | 91 | — |
| Exercise of stock options | 40 | — |
| Net cash provided by financing activities | 67,417 | 1,010 |
| Increase in cash, cash equivalents and restricted cash | 57,175 | 461 |
| Cash, cash equivalents and restricted cash at the beginning of the period | 4,791 | 116 |
| Cash, cash equivalents and restricted cash at the end of the period | 61,966 | 577 |
| Reconciliation of cash, cash equivalents and restricted cash to condensed consolidated balance sheets: | ||
| Cash and cash equivalents | 61,960 | 572 |
| Restricted cash | 6 | 5 |
| Total cash, cash equivalents and restricted cash | 61,966 | 577 |
| Supplemental disclosure of cash flow activities: | ||
| Cash paid for interest | — | 40 |
| Noncash financing activities: | ||
| Domicilium debt conversion and waiver of accrued interest, (principal of $1,000 and accrued interest of $56) | 1,056 | — |
| Issuance costs in accounts payable and accrued expenses | 1,975 | — |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except share and per share data); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗