Eupraxia Pharmaceuticals Announces Proposed Public Offering

Executive Summary

• Eupraxia Pharmaceuticals filed a preliminary prospectus supplement to its short‑form base shelf prospectus in connection with a proposed public offering of common shares (or pre‑funded warrants).
• The company has granted underwriters a 30‑day option to purchase up to an additional 15% of the offered securities.
• Net proceeds are intended primarily for advancing EP‑104GI (Eosinophilic Esophagitis) through preclinical work, Phase 2 and Phase 3 clinical development, manufacturing scale‑up, and broader gastrointestinal indications, as well as other R&D, business development, IP expansion, and general corporate purposes.

Key Details

• Supplement Filing: Preliminary prospectus supplement filed with the SEC (Form‑10) and SEDAR; Base Prospectus dated February 5 2024.
• Offering Structure: Common shares (or pre‑funded warrants to purchase common shares). Underwriters may exercise a 30‑day option for up to an additional 15% of the offered securities.
• Book‑Running Managers: Cantor and LifeSci Capital (joint book‑running managers); Bloom Burton acting as co‑manager.
• Pricing & Size: To be determined at pricing; final terms will be set in the market context. No specific price or gross proceeds disclosed.
• Use of Proceeds – Primary:
• Completion of ongoing preclinical studies for EP‑104GI.
• Execution of Phase 2 clinical trials and preparation for Phase 3, including regulatory submissions.
• Manufacturing activities to support eventual product launch.
• Use of Proceeds – Secondary:
• Expansion of EP‑104GI into additional gastrointestinal indications (esophageal strictures, fibrostenotic Crohn’s disease).
• Research & development of other pipeline candidates.
• Business development initiatives and general corporate purposes (salaries, working capital, leases, administrative expenses, capex).
• Expansion of intellectual property portfolio and strengthening of corporate infrastructure.

Notable Quotes

No executive quotes were included in the release.