aibioEloxx Pharmaceuticals lacks funds for auditor review, expects $0.6 million cash
Tickers ELOX
The company also has not filed its annual reports for 2023 and 2024. It expects to disclose substantial doubt about its ability to continue as a going concern.
Key facts
- Company
- Eloxx Pharmaceuticals, Inc. (NASDAQ: ELOX)
- News type
- Distress
- Primary source
- Eloxx Pharmaceuticals, Inc. NT 10-Q (2025-08-14)
Eloxx Pharmaceuticals, Inc. (ELOX) said it cannot file its quarterly report for the period ended June 30, 2025 on time because it lacks the money to engage its independent accounting firm.
In a late filing notice dated August 14, 2025, the Arlington, Massachusetts company said it was unable to allocate the financial resources needed to have its auditor audit its financial statements for the years ended December 31, 2024 and 2023. It said those financial constraints are ongoing, so it cannot have the firm review its second quarter statements either.
Eloxx listed the periodic reports it has not filed, including its annual reports on Form 10-K for the fiscal years ended December 31, 2023 and December 31, 2024 and its quarterly report for the quarter ended March 31, 2025.
The company expects to report cash and cash equivalents of $0.6 million as of June 30, 2025, compared with $0.4 million as of March 31, 2024 and $4.8 million as of September 30, 2023. It anticipates a significant increase in its net loss for the three months ended June 30, 2025.
Management expects to disclose substantial doubt about the company's ability to continue as a going concern. That is an accounting warning that a company may not be able to keep operating. Eloxx said it does not have enough cash to support planned operations for at least 12 months.