Eupraxia Pharma Prices $55 Mln Offering Of Shares And Warrants; Stock Down
(RTTNews) – Eupraxia Pharmaceuticals Inc. (EPRX) , a clinical-stage biotechnology company, announced the pricing of the public offering of 6.43 million shares at a price of $7 per share and pre-funded warrants to purchase up to 1.43 million shares at a price of US$6.9999. The gross proceeds of the offering are expected to be $55 million.
Following the news, EPRX is down 9.31% to $7.40 in premarket trading.
Eupraxia intends to use the net proceeds from the offering for the continued advancement of EP-104GI for Eosinophilic Esophagitis, and to accelerate and pursue clinical studies with EP-104GI in multiple additional gastrointestinal indications, including in oesophagal strictures and fibrostenotic Crohn’s disease.
In addition, a portion will also be allocated for research and development of additional pipeline candidates, business development initiatives, and general corporate purposes, and to expand and strengthen the property portfolio and corporate infrastructure, noted the firm.
Each pre-funded warrant will entitle the holder thereof to acquire one common share of the Company at a nominal exercise price of C$0.00001 per pre-funded warrant share and will not expire until exercised in full.
In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 1.188 million shares on the same terms and conditions.
The offering is expected to close on February 20, 2026.
Cantor and LifeSci Capital are acting as joint book-running managers for the offering.
EPRX has traded between $2.68 and $9.32 in the last one year. EPRX closed Wednesday’s trade at $8.16, down 0.85%.
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