Eupraxia Pharmaceuticals announces public offering of common shares

* Eupraxia Pharmaceuticals (NASDAQ:EPRX [https://seekingalpha.com/symbol/EPRX]) announced on Monday the company has filed a preliminary prospectus supplement to its short form base shelf prospectus in connection with a proposed public offering of common shares of the company.
* The company also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of common shares offered in the offering.
* 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.
* 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.
* The company said that a portion of the proceeds will also be allocated to research and development of additional pipeline candidates, business development initiatives, and general corporate purposes.
* The company may also use a portion of the proceeds to expand its intellectual property portfolio and strengthen its corporate infrastructure to support future growth.
* EPRX -3.27% after hours to $6.2.
* Source: Press Release [https://seekingalpha.com/pr/20240266-eupraxia-pharmaceuticals-announces-proposed-public-offering-of-common-shares]

MORE ON EUPRAXIA PHARMACEUTICALS

* Historical earnings data for Eupraxia Pharmaceuticals  [https://seekingalpha.com/symbol/EPRX:CA/earnings]
* Financial information for Eupraxia Pharmaceuticals  [https://seekingalpha.com/symbol/EPRX:CA/income-statement]