Delhi | 25°C (windy)

Eupraxia Pharmaceuticals Secures $70 Million Through Public Offering to Accelerate Osteoarthritis Treatment Development

  • Nishadil
  • September 24, 2025
  • 0 Comments
  • 2 minutes read
  • 5 Views
Eupraxia Pharmaceuticals Secures $70 Million Through Public Offering to Accelerate Osteoarthritis Treatment Development

Eupraxia Pharmaceuticals (NASDAQ:EPRX), a clinical-stage pharmaceutical company, has successfully completed the pricing of its previously announced underwritten public offering, securing a substantial $70 million in gross proceeds. This significant financial milestone is set to dramatically accelerate the development of its lead product candidate, EP-104IAR, an innovative and long-acting investigational pain therapy aimed at providing much-needed relief for patients suffering from osteoarthritis of the knee.

The offering involved the sale of 7,000,000 common shares at a price of $10.00 per share, a move that underscores robust investor confidence in Eupraxia's pipeline and its potential to address a widespread and debilitating condition.

In a further display of market interest, the underwriters have also been granted a 30-day option to purchase up to an additional 1,050,000 common shares, which could bring the total gross proceeds even higher if exercised.

Eupraxia Pharmaceuticals anticipates the offering to close on or about June 18, 2021, subject to the customary closing conditions.

The strategic infusion of capital is earmarked for several critical initiatives, primarily focusing on the ongoing clinical development of EP-104IAR. A substantial portion of the proceeds will be directed towards funding the FORTRESS clinical trial, a pivotal Phase 2 study designed to evaluate the efficacy and safety of EP-104IAR for osteoarthritis of the knee.

EP-104IAR stands out as a unique, locally delivered, intra-articular investigational therapy, engineered to provide sustained pain relief by targeting the affected joint directly.

The company's innovative approach aims to minimize systemic exposure while maximizing therapeutic benefits, potentially offering a safer and more effective alternative to existing treatments for chronic knee pain.

Beyond the FORTRESS trial, the secured funds will also bolster Eupraxia’s working capital and serve general corporate purposes, ensuring the company has the resources to expand its research and development efforts and maintain operational agility.

The successful completion of this offering marks a crucial step forward in Eupraxia's mission to develop groundbreaking therapies for serious medical conditions, particularly those involving chronic pain and inflammation.

The offering was jointly managed by leading financial institutions: BofA Securities and SVB Leerink served as joint book-running managers, with William Blair acting as a lead manager and Canaccord Genuity as a co-manager.

Their involvement highlights the professional rigor and market validation behind this significant fundraising effort for Eupraxia Pharmaceuticals.

.

Disclaimer: This article was generated in part using artificial intelligence and may contain errors or omissions. The content is provided for informational purposes only and does not constitute professional advice. We makes no representations or warranties regarding its accuracy, completeness, or reliability. Readers are advised to verify the information independently before relying on