Eupraxia Pharmaceuticals (EPRX) Q1 2025 earnings summary

Executive summary

• Achieved a clinical milestone with positive nine-month data from the Phase 1b/2a RESOLVE trial for EP-104GI in Eosinophilic Esophagitis, showing sustained or improved outcomes after a single 48mg dose.

• Announced positive 12-week data from the sixth cohort of the RESOLVE trial, with no adverse events and improved efficacy at higher doses.

• Cash runway expected to fund operations through the third quarter of 2026.

• Leadership transition with Alex Rothwell returning as CFO, succeeding Bruce Cousins.

Financial highlights

• Net loss of $6.8 million for Q1 2025, compared to $6.2 million in Q1 2024, primarily due to decreased R&D costs and other income, partially offset by higher G&A expenses.

• Cash balance of $27.5 million as of March 31, 2025, down from $33.1 million at year-end 2024.

• 35,849,353 common shares and 8,905,638 preferred shares outstanding as of March 31, 2025.

Outlook and guidance

• Existing cash reserves and potential warrant exercises expected to fund operations through Q3 2026.

• Advancement into higher-dose cohorts for EP-104GI planned in upcoming quarters.