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Eupraxia Pharmaceuticals Announces Pricing of US$70 Million Public Offering of Common Shares
VICTORIA, British Columbia, Sept. 22, 2025 (GLOBE NEWSWIRE) -- Eupraxia Pharmaceuticals Inc. ...
About this update from Eupraxia Pharmaceuticals, Inc.
[{"type":"text","content":"Eupraxia Pharmaceuticals Announces Pricing of US$70 Million Public Offering of Common Shares\n\n\n\n VICTORIA, British Columbia, Sept. 22, 2025 (GLOBE NEWSWIRE) -- Eupraxia Pharmaceuticals Inc. (“Eupraxia” or the “Company”) (NASDAQ:EPRX) (TSX:EPRX), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, today announced the pricing of its previously announced public offering (the \"Offering\") of 12,727,273 common shares of the Company (the “Common Shares\") at a price to the public of US$5.50 per Common Share for gross proceeds of approximately US$70 million, before deducting the underwriting commissions and estimated expenses incurred in connection with the Offering. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,909,090 Common Shares on the same terms and conditions. All of the Common Shares in the Offering are being sold by the Company. The Offering is expected to close on September 24, 2025, subject to the satisfaction of customary closing conditions, including the listing of the Common Shares to be issued under the Offering on the Toronto Stock Exchange (the “TSX”) and the Nasdaq Capital Market (the “Nasdaq”), and receipt of any required approvals of the TSX.\n \n\n Cantor and LifeSci Capital are acting as joint book-running managers for the Offering. Bloom Burton is also acting as co-manager for the Offering.\n \n\n The Company intends to use the net proceeds from the offering primarily for the continued advancement of its product pipeline, including the completion of ongoing preclinical studies and clinical trials, regulatory submissions, and associated commercial preparation and manufacturing scale-up activities. A portion of the proceeds will also be allocated to research and development of additional pipeline candidates, business development initiatives, and general corporate purposes, which may include but are not limited to employee salaries, working capital, leases for facilities, administrative expenses, and capital expenditures. The Company may also use a portion of the proceeds to expand its intellectual property portfolio and strengthen its ...