Eupraxia Plans Public Offering with 15% Overallotment to Fund EP-104GI Trials
Company filed a preliminary prospectus supplement for a proposed common share offering with a 30-day overallotment option of up to 15% additional shares. Net proceeds will fund EP-104GI’s Phase 2/3 trials for eosinophilic esophagitis, expand studies into fibrostenotic Crohn’s disease and support pipeline R&D.
1. Offering Details
Eupraxia filed a preliminary prospectus supplement to its February 2024 base shelf prospectus, registering an offering of common shares or pre-funded warrants. The company granted underwriters a 30-day option to purchase up to 15% additional shares, with final terms to be set at pricing.
2. Planned Use of Proceeds
Net proceeds are earmarked for advancement of EP-104GI in eosinophilic esophagitis, including completion of preclinical studies, Phase 2 trials and Phase 3 preparations. Funds will also support expansion into esophageal strictures and fibrostenotic Crohn’s disease, plus R&D for new pipeline candidates and commercial readiness activities.
3. Closing Conditions and Timeline
The offering’s closing is subject to customary conditions, including listings on the Toronto Stock Exchange and Nasdaq Capital Market and receipt of required regulatory approvals. Final pricing and closing date will depend on market conditions and exchange acceptances.