#Canada #Victoria #EP-104GI #Eupraxia #DiffuSphere

Eupraxia Pharmaceuticals Reports Financial Results for Q4 2024

Eupraxia Pharmaceuticals Inc. has disclosed its financial data for the fourth quarter of 2024, showcasing promising developments as a clinical-stage biotechnology company. Their innovative DiffuSphere™ technology aims to enhance drug delivery in various therapeutic areas. With a focus on unmet medical needs, Eupraxia is setting a solid foundation for growth.

Highlights of the Financial Report

According to Dr. James Helliwell, CEO of Eupraxia, the fourth quarter of 2024 marked a significant period for the company. They yielded robust data from their ongoing Phase 1b/2a RESOLVE trial for EP-104GI, targeted at treating eosinophilic esophagitis (EoE). This trial highlights the potential of EP-104GI by demonstrating improvements in both tissue health and symptom reduction through higher localized doses.

Additionally, Eupraxia successfully raised C$44.5 million in funding during this quarter, substantially reinforcing its financial structure and ensuring adequate resources to reach beyond 2026. The company’s prudent financial management is evident as it reports a net loss of $7.5 million for the quarter, a decline from a $10.6 million loss in the same period last year. This drop can be attributed to reduced research costs and other expenditures, a positive sign for stakeholders.

Noteworthy Operational Updates

Several important operational updates enriched Eupraxia's framework during the fourth quarter:

• - Leadership Changes: Dr. Amanda Malone was appointed as the Chief Operating and Scientific Officer, bringing extensive experience to the leadership team.
• - Presentations and Publications: The company marked its presence at key medical forums, including the United European Gastroenterology Week, showcasing its RESOLVE trial data, and significant findings from the Phase 2b SPRINGBOARD trial were published in the esteemed journal 'The Lancet Rheumatology'.
• - Product Pipeline Progress: Notably, the conclusions from the trial emphasize the efficacy and safety of EP-104GI, illustrating the treatment's promise for patients suffering from EoE.

Financial Position and Future Outlook

As of December 31, 2024, Eupraxia's cash holdings stood at $33.1 million, a significant increase from $19.3 million at the close of 2023. This reserves funding for ongoing clinical trials related to EP-104, general corporate expenses, and operational needs. Management is optimistic that existing cash flow will sustain operations into the third quarter of 2026, adhering to a strategic roadmap focused on market success.

Eupraxia is also keenly monitoring international trade dynamics, especially with proposed tariffs that could impact commodity costs sourced from the U.S. The company’s active pharmaceutical ingredients (API) remain secured, but management is prepared to navigate any legislatively induced challenges.

Conclusion and Future Directions

With the promising outcomes of its clinical trials and ongoing strategic funding initiatives, Eupraxia Pharmaceuticals emerges as a pivotal player in the biotechnology sector. The company's DiffuSphere™ technology not only opens up new therapeutic avenues but also positions Eupraxia effectively against chronic diseases requiring tailored treatment solutions.

The potential of Eupraxia's endeavors is substantial, extending to various critical health areas beyond the current focus on eosinophilic esophagitis and knee osteoarthritis. By continually advancing through clinical trials and maintaining strong fiscal health, Eupraxia Pharmaceuticals is poised for a breakthrough in the medical biotechnology industry.