Core Viewpoint - Eupraxia Pharmaceuticals Inc. has announced a public offering of common shares and pre-funded warrants, aiming to raise approximately US$55 million to advance its clinical programs and expand its pipeline [1][3]. Group 1: Offering Details - The public offering consists of 6,428,574 common shares priced at US$7.00 each and pre-funded warrants to purchase up to 1,428,571 common shares at US$6.99999 each, resulting in gross proceeds of about US$55 million before expenses [1]. - The offering is expected to close on February 20, 2026, pending customary closing conditions, including the listing of shares on the TSX and Nasdaq [1]. - Underwriters have a 30-day option to purchase an additional 1,178,571 common shares under the same terms [1]. Group 2: Use of Proceeds - The net proceeds will primarily fund the advancement of EP-104GI for Eosinophilic Esophagitis, including ongoing preclinical studies and Phase 2 clinical trials, as well as preparations for a Phase 3 trial [3]. - A portion of the funds will be allocated to expand clinical studies for EP-104GI in additional gastrointestinal indications and to support research and development of other pipeline candidates [3]. - The proceeds may also be used for general corporate purposes, including employee salaries, working capital, and expanding the intellectual property portfolio [3]. Group 3: Company Overview - Eupraxia Pharmaceuticals is a clinical-stage biotechnology company focused on developing locally delivered, extended-release products targeting high unmet medical needs [7]. - The company utilizes its proprietary Diffusphere™ technology for optimized local drug delivery [7].
Eupraxia Pharmaceuticals Announces Pricing of US$55 Million Public Offering of Common Shares and Pre-Funded Warrants