(RTTNews) - Eupraxia Pharmaceuticals Inc. (EPRX) announced it has priced a US$55 million public offering of common shares and pre-funded warrants. The financing is expected to close on or about February 20, 2026, subject to customary conditions.
The company intends to use the proceeds to advance its lead programs and expand its proprietary Diffusphere extended-release technology, which is designed to deliver drugs directly to targeted tissues at controlled rates to improve efficacy and tolerability.
Pipeline overview and milestones:
• EP-104GI (Eosinophilic Esophagitis, EoE): A long-acting, controlled-release fluticasone propionate formulation injected into esophageal tissue. Currently in Phase 1b/2 RESOLVE trial, with topline data from the Phase 2b portion expected in Q3 2026. The company also plans to prepare for a Phase 3 study and explore additional gastrointestinal indications, including esophageal strictures and fibro stenotic Crohn's disease.
• EP-104IAR (Knee Osteoarthritis): A controlled-release intra-articular corticosteroid injection designed to provide extended pain relief with reduced systemic side effects. The Phase 2 SPRINGBOARD trial met its primary endpoint and three of four secondary endpoints.
Financial position:
Eupraxia reported cash of $89 million as of September 30, 2025, following an $80.5 million raise in September. With the new US$55 million offering, the company projects a funding runway into the first half of 2028, supporting multiple late-stage programs and pipeline expansion.
EPRX has traded between $2.68 and $9.32 over the past year. The stock closed Wednesday's trading at $8.16, down 0.85%. In pre-market trading on Thursday, EPRX is down over 9% at $7.40.
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