Full Press Release Details
Eupraxia Pharmaceuticals Begins Trading
Victoria, B.C. - April 5, 2024
- Eupraxia Pharmaceuticals Inc. ("Eupraxia" or the "Company") (TSX: EPRX); (NASDAQ: EPRX), a clinical-stage
biotechnology company leveraging its proprietary Diffusphere technology to optimize drug delivery for applications with significant
unmet need, announced today that trading of the Company's common shares will begin today, April
5, 2024, on the Nasdaq Capital Market ("Nasdaq"), under the ticker symbol "EPRX".
The Company's shares
also continue to trade on the Toronto Stock Exchange under the ticker symbol "EPRX".
About Eupraxia Pharmaceuticals Inc.
Eupraxia is a clinical-stage biotechnology
company focused on the development of locally delivered, extended-release products that have the potential to address therapeutic areas
with high unmet medical need. The Company strives to provide improved patient benefit and has developed technology designed to deliver
targeted, long-lasting activity with fewer side effects. Diffusphere , a proprietary, polymer-based micro-sphere technology, is
designed to facilitate targeted drug delivery, with extended duration of effect, and offers multiple, highly tuneable PK profiles. This
investigational technology can be engineered for use with multiple active pharmaceutical ingredients and delivery methods.
Eupraxia recently completed a Phase 2b
clinical trial (SPRINGBOARD) for its lead product candidate, EP-104IAR, for the treatment of pain due to osteoarthritis of the knee.
The trial met its primary endpoint and three of the four secondary endpoints. Eupraxia has expanded the EP-104 platform into gastrointestinal
disease with the Phase 1b/2a RESOLVE trial for treating eosinophilic esophagitis. Eupraxia is also developing a pipeline of later- and
earlier-stage long-acting formulations. Potential pipeline indications include candidates for other inflammatory joint indications and
oncology, each designed to improve on the activity and tolerability of currently approved drugs. For further details about Eupraxia,
please visit the Company's website at: www.eupraxiapharma.com.
Notice Regarding Forward-looking
Statements and Information
This news release includes forward-looking
statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking
information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled",
"intends", "contemplates", "anticipates", "believes", "proposes", "potential"
or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking
statements in this news release include statements regarding Eupraxia's listing on the Nasdaq and the potential of Eupraxia's product
candidates. Such statements and information are based on the current expectations of Eupraxia's management, and are based on assumptions,
including but not limited to: future research and development plans for the Company proceeding substantially as currently envisioned;
industry growth trends, including with respect to projected and actual industry sales; the Company's ability to obtain positive results
from the Company's research and development activities, including clinical trials; and the Company's ability to protect patents and proprietary
rights. Although Eupraxia's management believes that the assumptions underlying these statements and information are reasonable, they
may prove to be incorrect. The forward-looking events and circumstances discussed in this news release may not occur by certain
dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Eupraxia, including,
but not limited to: risks and uncertainties related to the Company's limited operating history; the Company's novel technology with uncertain
market acceptance; if the Company breaches any of the agreements under which it licenses rights to its product candidates or technology
from third parties, the Company could lose license rights that are important to its business; the Company's current license agreement
may not provide an adequate remedy for its breach by the licensor; the Company's technology may not be successful for its intended use;
the Company's future technology will require regulatory approval, which is costly and the Company may not be able to obtain it; the Company
may fail to obtain regulatory approvals or only obtain approvals for limited uses or indications; the Company's clinical trials may fail
to demonstrate adequately the safety and efficacy of our product candidates at any stage of clinical development; the Company may be required
to suspend or discontinue clinical trials due to side effects or other safety risks; the Company completely relies on third parties to
provide supplies and inputs required for its products and services; the Company relies on external contract research organizations to
provide clinical and non-clinical research services; the Company may not be able to successfully execute its business strategy; the Company
will require additional financing, which may not be available; any therapeutics the Company develops will be subject to extensive, lengthy
and uncertain regulatory requirements, which could adversely affect the Company's ability to obtain regulatory approval in a timely manner,
or at all; the impact of health pandemics or epidemics on the Company's operations; the Company's restatement of its consolidated financial
statements, which may lead to additional risks and uncertainties, including loss of investor confidence and negative impacts on the Company's
common share price; and other risks and uncertainties described in more detail in Eupraxia's public filings on SEDAR+ (sedarplus.ca) and
EDGAR (sec.gov). Although Eupraxia has attempted to identify important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements and information, there may be other factors that cause actions, events
or results to differ from those anticipated, estimated or intended. No forward-looking statement or information can be guaranteed.
Except as required by applicable securities laws, forward-looking statements and information speak only as of the date on which
they are made and Eupraxia undertakes no obligation to publicly update or revise any forward-looking statement or information, whether
as a result of new information, future events or otherwise.
For investor and media inquiries, please contact:
Danielle Egan, Eupraxia Pharmaceuticals Inc.
For investor inquiries, please contact:
Adam Peeler, on behalf of:
Eupraxia Pharmaceuticals Inc.
SOURCE Eupraxia Pharmaceuticals Inc.