Eupraxia Pharmaceuticals Inc. (EPRX), a clinical-stage biotechnology company, on Tuesday released its first quarter financial results.
The company's lead investigational product, Diffusphere, is a proprietary, polymer-based microsphere drug delivery technology, designed to assure maximum duration of effect for the delivered drug.
Q1 2026:
The company recorded a net loss of $12.7 million in Q1 2026, while in the same period of 2025, the net loss was $6.8 million.
Cash and cash equivalents on March 31, 2026, amounted to $58.5 million, and short-term investments were $80.4 million. The available capital is expected to fund company operations till the second half of 2028.
In February, the company closed a public offering of common shares with gross proceeds of $63.2 million.
Operational Highlights:
Eupraxia is developing EP-104GI as a treatment for eosinophilic esophagitis (EoE) and is currently evaluating the drug in the Phase 1b/2 RESOLVE trial. In March, the company announced data from the highest dosed cohort, and in April, it released positive tissue health and symptom data from the highest dose cohort, indicating a robust response after treatment at 36 weeks.
Additionally, the company completed a Phase 2b trial for EP-104IAR in the treatment of pain due to knee osteoarthritis.
EPRX closed Tuesday at $7.61, up 2.56%.
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