EUPRAXIA PHARMACEUTICALS INC. ownership disclosure: Manchester Management entities and associated individuals report beneficial holdings in Common Shares as of 03/31/2026.
Manchester Management Company, LLC and Manchester Management PR, LLC each report 3,830,869 shares (7.4%); Manchester Explorer, L.P. reports 3,707,942 shares (7.1%). James E. Besser reports 3,969,162 shares (7.6%) and Morgan C. Frank reports 4,015,248 shares (7.7%).
Positive
None.
Negative
None.
Insights
Disclosure shows coordinated ownership via advisory clients and joint filing.
The filing lists shared voting and dispositive power for multiple Manchester entities, with specific sole-vote and sole-dispositive holdings for two individuals. The excerpt states shared powers of 3,830,869 and 3,707,942 shares for named entities as of 03/31/2026.
Observers should note the filing includes a Joint Filing Agreement and an Item 6 disclosure that most reported shares are held on behalf of advisory clients; subsequent filings may clarify any changes in voting arrangements.
Positions represent mid-single-digit ownership stakes each, visible in Schedule 13G/A.
The largest reported individual position is 4,015,248 shares (7.7%) by Morgan C. Frank; shared holdings are reported for Manchester entities. These percentages provide context for potential influence without indicating control.
Cash-flow treatment and any plans to buy or sell are not included in the excerpt; any trading activity would be reported separately.
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
shared dispositive powerregulatory
"8 | Shared Dispositive Power 3,830,869.00"
Joint Filing Agreementregulatory
"Exhibit A - Joint Filing Agreement"
sole voting powerregulatory
"5 | Sole Voting Power 138,293.00"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
EUPRAXIA PHARMACEUTICALS INC.
(Name of Issuer)
Common Shares, no par value
(Title of Class of Securities)
29842P105
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
29842P105
1
Names of Reporting Persons
Manchester Management Company, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,830,869.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,830,869.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,830,869.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.4 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
29842P105
1
Names of Reporting Persons
Manchester Management PR, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
PUERTO RICO
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,830,869.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,830,869.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,830,869.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.4 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
29842P105
1
Names of Reporting Persons
Manchester Explorer, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,707,942.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,707,942.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,707,942.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.1 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
29842P105
1
Names of Reporting Persons
James E. Besser
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
138,293.00
6
Shared Voting Power
3,830,869.00
7
Sole Dispositive Power
138,293.00
8
Shared Dispositive Power
3,830,869.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,969,162.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.6 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP Number(s):
29842P105
1
Names of Reporting Persons
Morgan C. Frank
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
307,306.00
6
Shared Voting Power
3,707,942.00
7
Sole Dispositive Power
307,306.00
8
Shared Dispositive Power
3,707,942.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,015,248.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.7 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
EUPRAXIA PHARMACEUTICALS INC.
(b)
Address of issuer's principal executive offices:
201-2067 CADBORO BAY RD., VICTORIA, BRITISH COLUMBIA, CANADA, V8R 5G4
Item 2.
(a)
Name of person filing:
MANCHESTER MANAGEMENT COMPANY, LLC
MANCHESTER MANAGEMENT PR, LLC
MANCHESTER EXPLORER, L.P.
JAMES E. BESSER
MORGAN C. FRANK
(b)
Address or principal business office or, if none, residence:
MANCHESTER MANAGEMENT COMPANY, LLC
2 Calle Candina, #1701
San Juan, Puerto Rico, 00907
United States of America
MANCHESTER MANAGEMENT PR, LLC
2 Calle Candina, #1701
San Juan, Puerto Rico, 00907
United States of America
MANCHESTER EXPLORER, L.P.
c/o Manchester Management Company, LLC
2 Calle Candina, #1701
San Juan, Puerto Rico, 00907
United States of America
JAMES E. BESSER
c/o Manchester Management Company, LLC
2 Calle Candina, #1701
San Juan, Puerto Rico, 00907
United States of America
MORGAN C. FRANK
c/o Manchester Management Company, LLC
2 Calle Candina, #1701
San Juan, Puerto Rico, 00907
United States of America
(c)
Citizenship:
MANCHESTER MANAGEMENT COMPANY, LLC - Delaware
MANCHESTER MANAGEMENT PR, LLC - Other - Puerto Rico
MANCHESTER EXPLORER, L.P. - Delaware
JAMES E. BESSER - United States
MORGAN C. FRANK - United States
(d)
Title of class of securities:
Common Shares, no par value
(e)
CUSIP No.:
29842P105
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
MANCHESTER MANAGEMENT COMPANY, LLC - 3,830,869
MANCHESTER MANAGEMENT PR, LLC - 3,830,869
MANCHESTER EXPLORER, L.P. - 3,707,942
JAMES E. BESSER - 3,969,162
MORGAN C. FRANK - 4,015,248
(b)
Percent of class:
MANCHESTER MANAGEMENT COMPANY, LLC - 7.4%
MANCHESTER MANAGEMENT PR, LLC - 7.4%
MANCHESTER EXPLORER, L.P. - 7.1%
JAMES E. BESSER - 7.6%
MORGAN C. FRANK - 7.7%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
MANCHESTER MANAGEMENT COMPANY, LLC - 0
MANCHESTER MANAGEMENT PR, LLC - 0
MANCHESTER EXPLORER, L.P. - 0
JAMES E. BESSER - 138,293
MORGAN C. FRANK - 307,306
(ii) Shared power to vote or to direct the vote:
MANCHESTER MANAGEMENT COMPANY, LLC - 3,830,869
MANCHESTER MANAGEMENT PR, LLC - 3,830,869
MANCHESTER EXPLORER, L.P. - 3,707,942
JAMES E. BESSER - 3,830,869
MORGAN C. FRANK - 3,707,942
(iii) Sole power to dispose or to direct the disposition of:
MANCHESTER MANAGEMENT COMPANY, LLC - 0
MANCHESTER MANAGEMENT PR, LLC - 0
MANCHESTER EXPLORER, L.P. - 0
JAMES E. BESSER - 138,293
MORGAN C. FRANK - 307,306
(iv) Shared power to dispose or to direct the disposition of:
MANCHESTER MANAGEMENT COMPANY, LLC - 3,830,869
MANCHESTER MANAGEMENT PR, LLC - 3,830,869
MANCHESTER EXPLORER, L.P. - 3,707,942
JAMES E. BESSER - 3,830,869
MORGAN C. FRANK - 3,707,942
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
All of the securities reported in this Schedule 13G, other than those securities reported herein that James E. Besser and Morgan C. Frank have the sole power to vote, direct the vote, dispose of or direct the disposition of, are directly owned by advisory clients of Manchester Management PR, LLC. None of those advisory clients, other than Manchester Explorer, L.P., may be deemed to beneficially own more than 5% of the Common Shares, no par value.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Manchester Management Company, LLC
Signature:
/s/ James E. Besser
Name/Title:
James E. Besser, Managing Member
Date:
05/12/2026
Manchester Management PR, LLC
Signature:
/s/ James E. Besser
Name/Title:
James E. Besser, Managing Member
Date:
05/12/2026
Manchester Explorer, L.P.
Signature:
/s/ James E. Besser
Name/Title:
James E. Besser, Managing Member of the General Partner
