Eupraxia Pharmac Stock Price, News & Analysis

Eupraxia Pharmaceuticals Inc. (NASDAQ: EPRX) (TSX: EPRX) reported its Q2 2024 financial results. Key highlights include:

• Positive progress in the eosinophilic esophagitis (EoE) clinical program with EP-104GI
• Presentations on EP-104IAR for knee osteoarthritis (OA) at medical meetings
• Net loss of $6.1 million, down from $9.5 million in Q2 2023
• Cash position of $23.3 million as of June 30, 2024
• New C$12 million convertible debt facility announced post-quarter end

The company anticipates reporting new data from the RESOLVE study soon and plans to engage with the FDA in Q4 2024 regarding the EP-104GI program.

Eupraxia Pharmaceuticals Inc. (TSX: EPRX) (NASDAQ: EPRX) has announced a new C$12 million convertible debt facility with Yabema Capital and other current shareholders. The facility is available for drawdown within 120 days, subject to the release of the existing SVB Facility. The conversion price is set at C$4.84375 per Common Share.

The company has also provided an update on its existing SVB Facility, which matured on June 21, 2024, with a total liability of C$12 million. Eupraxia has fully discharged C$6 million to SVB Innovation Credit Fund and is in discussions for the remaining settlement. The company's cash reserves will be reduced by up to C$12 million to settle this debt.

Including the new convertible debt facility, Eupraxia anticipates having sufficient cash to fund operations until the second quarter of 2025.

Eupraxia Pharmaceuticals (TSX: EPRX, NASDAQ: EPRX) announces that Dr. Amanda Malone, Chief Operating and Scientific Officer, will present at the Controlled Release Society 2024 Annual Meeting and Expo in Bologna, Italy, from July 8-12, 2024.

The presentation, titled 'EP-104, a novel microparticle formulation achieving extended-release of fluticasone propionate,' will occur on July 10, 2024, from 9:00 AM to 11:00 AM CEST (3:00 AM to 5:00 AM ET) during the 'Long-Acting Drug Delivery Formulations - Session #2'. The presentation can be accessed online at Eupraxia's website.

Eupraxia Pharmaceuticals (TSX: EPRX, NASDAQ: EPRX), a clinical-stage biotech firm utilizing its proprietary DiffuSphere™ technology, announced that its CEO, Dr. James A. Helliwell, will present at a Tribe Public Webinar titled, "Exploring The Rapid Rise of Osteoarthritis." The event is set for July 9, 2024, at 8:30 am PT / 11:30 am ET. Osteoarthritis is a leading cause of disability among older adults, with knee OA affecting over 30 million people in the U.S. alone. Registration for this public event is open, and questions for Dr. Helliwell can be submitted via Tribe Public’s email or ZOOM chat during the event. John F. Heerdink, Jr. from Tribe Public will moderate the session.

Eupraxia Pharmaceuticals, a clinical-stage biotech firm, announced the results of its Annual General and Special Meeting of Shareholders held on June 6, 2024. All six board nominees were elected, with votes overwhelmingly in favor. KPMG LLP was appointed as the auditor, and several business items, including stock option plans and potential share consolidations, were approved. Eupraxia focuses on extended-release drug delivery through its DiffuSphere™ technology. The company recently completed a successful Phase 2b trial for osteoarthritis and is expanding into gastrointestinal treatments with ongoing trials.

Eupraxia Pharmaceuticals announced that it will present data from its Phase 2 SPRINGBOARD study on EP-104IAR, a treatment for knee osteoarthritis, at the EULAR European Congress of Rheumatology 2024 in Vienna, Austria. The study assesses the efficacy of a long-acting fluticasone propionate intra-articular injection compared to a vehicle placebo. The presentation, under programme number OP0274, will occur on June 14, 2024, from 10:50 AM to 11:00 AM CEST. Further details will be available on the company's website.

Eupraxia Pharmaceuticals announced the expansion of its RESOLVE Phase 1b/2a trial for EP-104GI to treat eosinophilic esophagitis (EoE). Encouraging early-phase results with eight of nine patients responding positively and exhibiting good safety profiles spurred this decision. The expansion will allow for higher doses and longer follow-up periods, now up to 52 weeks. The study will include more participants, increasing from 12-15 to 27-33. Additional clinical sites will be established to support the new recruitment targets. The trial aims to gather data to support a potential registration trial in 2025.

Eupraxia Pharmaceuticals will host a virtual key opinion leader (KOL) event on May 29, 2024, at 10:00 AM ET to discuss their EP-104GI clinical development program for Eosinophilic Esophagitis (EoE). The event will feature Dr. Evan S. Dellon, a leading expert from the University of North Carolina, alongside company management. The focus will be on data from the Phase 1b/2a RESOLVE trial and the potential of Eupraxia's DiffuSphere™ technology to enhance treatment outcomes for EoE patients. A live Q&A session will follow.

Eupraxia Pharmaceuticals announced positive data from its Phase 1b/2a RESOLVE trial of EP-104GI for eosinophilic esophagitis (EoE). Results from the first and second cohorts showed potential efficacy up to 24 weeks, with improved symptom outcomes and reduced eosinophil counts. The third cohort, receiving a higher dose, also reported symptom improvements at 12 weeks. The treatment demonstrated a strong safety profile with only mild to moderate adverse events. Eupraxia plans to continue data disclosure as the trial progresses.