Core Viewpoint - Eupraxia Pharmaceuticals Inc. successfully closed a public offering of 7,607,145 common shares at a price of US$7.00 per share, raising approximately US$63.2 million in gross proceeds before expenses [1][2]. Group 1: Offering Details - The offering included the full exercise of an option to purchase additional shares and pre-funded warrants to purchase up to 1,428,571 common shares at a price of US$6.99999 per warrant [1]. - The offering was conducted under a U.S. registration statement declared effective by the SEC and a Canadian short form base shelf prospectus [4]. Group 2: Use of Proceeds - The net proceeds from the offering will primarily be used for advancing EP-104GI for eosinophilic esophagitis, including ongoing preclinical studies and Phase 2 clinical trials [3]. - Funds will also support preparations for a Phase 3 clinical trial, regulatory submissions, and manufacturing activities [3]. - A portion of the proceeds will be allocated to expand clinical studies for additional gastrointestinal indications and to enhance the company's research and development efforts [3]. Group 3: Company Background - Eupraxia is a clinical-stage biotechnology company focused on developing locally delivered, extended-release products to address high unmet medical needs [7]. - The company leverages its proprietary Diffusphere™ technology for targeted drug delivery [8].
Eupraxia Pharmaceuticals Announces Closing of US$63.2 Million Public Offering Including Full Exercise of Underwriter Option