Eloxx Pharmaceuticals Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters' Option to Purchase Additional Shares Waltham, MA.

Eloxx Pharmaceuticals Announces Closing

of Public Offering of Common Stock

and Full Exercise of Underwriters'

Option to Purchase Additional Shares

Waltham, MA. - June 24, 2019- Eloxx

Pharmaceuticals, Inc. ("Eloxx") (Nasdaq: ELOX) today announced the closing of its underwritten public offering of 3,833,334

shares of its common stock, which includes the full exercise of the underwriters' option to purchase an additional 500,000

shares, at a price to the public of $9.00 per share. The gross proceeds to Eloxx from the offering were approximately $34.5 million,

before deducting the underwriting discounts and commissions and offering expenses.

Eloxx anticipates using the net proceeds from the offering to

fund the continued clinical development of ELX-02 in cystic fibrosis and cystinosis, to accelerate development of early-stage programs

and for working capital and other general corporate purposes.

Citigroup and Piper Jaffray & Co. acted as joint book-running

managers for the offering.

The offering was made only by means of a prospectus. Copies

of the final prospectus may be obtained by request from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155

Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146; or from Piper Jaffray & Co., 800 Nicollet Mall,

J12S03, Minneapolis, MN 55402, Attention: Prospectus Department or by e-mail at prospectus@pjc.com or by phone at (800) 747-3924.

This press release shall not constitute an offer to sell or

the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction

in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws

of any such state or other jurisdiction.

About Eloxx Pharmaceuticals

Eloxx Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical

company developing novel RNA-modulating drug candidates (designed to be eukaryotic ribosomal selective glycosides) that are formulated

to treat rare and ultra-rare premature stop codon diseases. Premature stop codons are point mutations that disrupt protein synthesis

from messenger RNA. As a consequence, patients with premature stop codon diseases have reduced or eliminated protein production

from the mutation bearing allele accounting for some of the most severe phenotypes in these genetic diseases. These premature stop

codons have been identified in over 1,800 rare and ultra-rare diseases. Read-through therapeutic development is focused on

extending mRNA half-life and increasing protein synthesis by enabling the cytoplasmic ribosome to read through premature stop codons

to produce full-length proteins. Eloxx's lead investigational product candidate, ELX-02, is a small molecule drug candidate

designed to restore production of full-length functional proteins. ELX-02 is in the early stages of clinical development focusing

on cystic fibrosis and cystinosis. ELX-02 is an investigational drug that has not been approved by any global regulatory body.

Eloxx's preclinical candidate pool consists of a library of novel drug candidates designed to be eukaryotic ribosomal selective

glycosides identified based on read-through potential. Eloxx recently announced a new program focused on rare ocular genetic disorders.

Eloxx is headquartered in Waltham, MA, with operations in Rehovot, Israel.

Forward-Looking Statements

press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking

statements can be identified by the words "expects," "anticipates," "believes," "intends,"

"estimates," "plans," "will," "outlook" and similar expressions. Forward-looking statements

are based on management's current plans, estimates, assumptions and projections, and speak only as of the date they are made. We

undertake no obligation to update any forward-looking statement in light of new information or future events, except as otherwise

required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and

are generally beyond our control. Actual results or outcomes may differ materially from those implied by the forward-looking statements

as a result of the impact of a number of factors, including: the development of the Company's read-through technology; the

approval of the Company's patent applications; the Company's ability to successfully defend its intellectual property

or obtain necessary licenses at a cost acceptable to the Company, if at all; the successful implementation of the Company's

research and development programs and collaborations; the Company's ability to obtain applicable regulatory approvals for

its current and future product candidates; the acceptance by the market of the Company's products should they receive regulatory

approval; the timing and success of the Company's preliminary studies, preclinical research, clinical trials, and related

regulatory filings; the ability of the Company to consummate additional financings as needed; as well as those discussed in

more detail in our Annual Report on Form 10-K and our other reports filed with the Securities and Exchange Commission.