Cycloheximide is an antibiotic which inhibits Protein synthesis . Given below are a few statements regarding the action of cycloheximide-

1) Cycloheximide, a popular inhibitor of protein synthesis, also stimulates glycogenolysis, gluconeogenesis, and ureogenesis; therefore, it is extensively used in biomedical research.

2) Cycloheximide works efficiently in both Prokaryotic and eukaryotic cells .

3) Cycloheximide exerts its effect by interfering with the translocation step in protein synthesis (movement of two tRNA molecules and mRNA in relation to the ribosome) thus blocking translational elongation. 

4) Cycloheximide binds to the E-site of 50S ribosome-mRNA complex, blocking the translational step of protein biosynthesis.

Which of the following options are not correctly describing the mechanism of action of cycloheximide?