VICTORIA, British Columbia — February 20, 2026 — Leads & Copy —
Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) (TSX:EPRX) has successfully closed its public offering, raising approximately US$63.2 million. The clinical-stage biotechnology company will use the net proceeds to advance its EP-104GI product for Eosinophilic Esophagitis, expand clinical studies for additional gastrointestinal indications, allocate funds to research and development of new pipeline candidates, and for general corporate purposes.
The offering involved 7,607,145 common shares and 1,428,571 pre-funded warrants, priced at US$7.00 and US$6.99999 respectively. The company granted the underwriters the option to purchase additional shares, and it was fully exercised.
Cantor and LifeSci Capital acted as joint book-running managers for the offering, with Bloom Burton and Craig-Hallum as co-managers.
According to James Helliwell, CEO of Eupraxia, the financing will enable the company to significantly expand its pipeline, reach additional development milestones with EP-104GI for eosinophilic esophagitis and make progress towards commercial readiness. Helliwell expressed gratitude for the support from both existing and new investors.
Eupraxia intends to use the funds to complete ongoing preclinical studies and Phase 2 clinical trials, prepare for a Phase 3 clinical trial, and undertake commercial/market development activities for the eventual product launch. Additionally, the company plans to accelerate and expand clinical studies with EP-104GI in multiple additional gastrointestinal indications, including in esophageal strictures and fibrostenotic Crohn’s disease.
A portion of the proceeds will also be used for research and development of additional pipeline candidates, business development initiatives, and general corporate purposes, including employee salaries, working capital, leases, administrative expenses, and capital expenditures. The company may also use proceeds to expand its intellectual property portfolio and strengthen its corporate infrastructure.
The offering was made under a U.S. registration statement on Form F-10, declared effective by the SEC on February 7, 2024, and the company’s existing Canadian short form base shelf prospectus, dated February 5, 2024. Detailed information about the offering can be found in the prospectus supplement and accompanying base prospectus, available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
Eupraxia Pharmaceuticals Inc. is a clinical-stage biotechnology company focused on locally delivered, extended-release products for unmet medical needs, utilizing its proprietary Diffusphere™ technology.
Source: Eupraxia Pharmaceuticals Inc.
