Eupraxia Pharmaceuticals (EPRX) Registration filing summary

Company overview and business model

• Clinical-stage biotechnology company leveraging proprietary Diffusphere™ technology for targeted, prolonged drug delivery in areas of unmet medical need.

• Two main clinical programs: EP-104GI for eosinophilic esophagitis (EoE) and EP-104IAR for chronic osteoarthritis (OA) knee pain, both using extended-release fluticasone propionate.

• EP-104GI is in Phase 1b/2 and Phase 2b trials across multiple countries; EP-104IAR completed Phase 2b and is seeking late-phase development funding.

• Strategy includes potential partnerships for development/commercialization and expansion of pipeline candidates over the next 24 months.

Financial performance and metrics

• As of June 30, 2026, held $52.4 million in cash and equivalents, expected to fund operations into the second half of 2028.

• History of negative operating cash flow and ongoing net losses expected as R&D and clinical trial investments continue.

• Recent public offering raised approximately $63.2 million in gross proceeds.

Use of proceeds and capital allocation

• Net proceeds from offerings will be detailed in prospectus supplements; funds to support clinical development, working capital, and potential negative cash flow.

• Capital previously allocated to EP-104IAR redirected to EP-104GI pending partnership or funding outcomes.