Enrollment continues in Phase 2b portion of the RESOLVE Trial, with topline data expected by Q3 2026
Completed $80.5 million public offering supported by leading life science investors
Cash runway to fund pipeline development and operations into the first half of 2028
VICTORIA, British Columbia, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Eupraxia Pharmaceuticals Inc. ("Eupraxia" or the "Company") (NASDAQ:EPRX) (TSX:EPRX), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology to optimize local, controlled drug delivery for diseases with significant unmet need, today announced its financial results for the third quarter of 2025 and provided a business update. All dollar values are in U.S. dollars unless stated otherwise.
"The compelling 52-week data from our RESOLVE trial reported this quarter further reinforce the potential of EP-104GI as a highly effective and durable treatment for eosinophilic esophagitis (EoE)," said Dr. James Helliwell, Chief Executive Officer of Eupraxia. "Our highest-dose cohort delivered the largest improvements in tissue health outcomes and eosinophil reduction observed to date, with no additional safety concerns. Coupled with the successful completion of our $80.5 million financing supported by strong life-science focused investors, we are now well resourced to advance the EP-104GI program, including through topline data from the Phase 2b RESOLVE Trial expected in the third quarter of 2026."
Recent Operational and Financial Highlights
Positive 52-Week Data from Phase 1b/2a RESOLVE Trial: On September 2, 2025, the Company announced the first set of 1-year clinical results from the RESOLVE Trial showing that two-thirds of Cohort 5 patients (N=3) remained in clinical remission after treatment with EP-104GI. Results demonstrated durable symptom and tissue responses beyond nine months of therapy, supporting long-term disease control. Additional 52-week data from cohort 6 is expected later this year.
Closing of $80.5 Million Public Offering: On September 24, 2025, the Company announced the closing of a public offering of Commons Shares (the "Offering"). The Company issued 14,636,363 Common Shares at a price of $5.50 per Common Share for gross proceeds of approximately $80.5 million which included the issuance of 1,909,090 Common Shares upon full exercise of the option to purchase additional shares granted to the underwriters. Proceeds will support clinical development of EP-104GI and broader pipeline advancement.
Third Quarter 2025 Financial Review
The Company incurred a net loss of $6.4 million for the three months ended September 30, 2025, versus a net loss of $6.0 million for the three months ended September 30, 2024. The increase in net loss was primarily due to an increase in research and development costs and general and administrative costs, partially offset by an increase in other income.
The Company had cash of $89.0 million as of September 30, 2025, up from $33.1 million at the end of the fourth quarter of 2024. These funds are being used to fund clinical trials in EP-104 and the remainder of the funds will be used for general and administrative expenses, working capital needs and other general corporate purposes.
The Company anticipates that existing cash reserves, and proceeds from the anticipated future exercise of in-the-money warrants, will be sufficient to fund the Company into the first half of 2028.
As of September 30, 2025, the Company had 50,598,331 common shares and 8,905,638 preferred shares outstanding.
Potential Impact of Tariffs
Management continues to monitor the North American trade situation stemming from the February 2025 announcement by the U.S. government of proposed ...
