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Eloxx Pharmaceuticals completes merger with Sevion Therapeutics

Eloxx Pharmaceuticals Ltd. completed its reverse merger with Sevion Therapeutics Inc., effective Dec. 19.

The merged entity will be named Eloxx Pharmaceuticals Inc. and began trading on the OTCQB market Dec. 20.

All of the issued and outstanding ordinary and preferred shares of Eloxx stock were converted, on a pro rata basis, into the right to receive 20,316,656 Sevion common shares after giving effect to Sevion's reverse stock split.

After the reverse stock split and the acquisition, the combined company has about 27.6 million shares outstanding.