Eupraxia Reports Positive 36-Week EoE Data, Closes $63.2M Offering to Advance Pipeline
Eupraxia Pharmaceuticals reported positive 36-week data for EP-104GI in eosinophilic esophagitis, showing durable clinical remission. The company closed a $63.2 million public offering to advance its gastrointestinal pipeline. All director nominees were elected at the annual general meeting.
Eupraxia Pharmaceuticals has reported positive 36-week data from its Phase 1b/2a RESOLVE trial for EP-104GI in eosinophilic esophagitis (EoE) and recently closed a US$63.2 million public offering to fund the advancement of its gastrointestinal pipeline.
The company announced that patients in Cohort 9 of the RESOLVE trial, receiving the highest dose of EP-104GI (20 x 8 mg), demonstrated a robust and sustained response. At 36 weeks, clinical remission was maintained in 66% of patients (2 of 3), a level first achieved at week 8. The data showed a 90% reduction in EoEHSS Stage and an 88% reduction in Grade, along with a 72% reduction in Peak Eosinophil Count from baseline. The treatment continues to be well tolerated, with over 230 patient-months of follow-up across 31 patients and no drug-related serious adverse events reported. Notably, there have been no cases of oropharyngeal candidiasis, an adverse event commonly associated with swallowed steroids.
On February 20, 2026, Eupraxia closed a public offering of 7,607,145 common shares and 1,428,571 pre-funded warrants, raising gross proceeds of US$63.2 million. The shares were priced at US$7.00 per share and the warrants at US$6.99999 per warrant. The proceeds are intended primarily to advance EP-104GI through preclinical work, Phase 2 trials, Phase 3 preparation, manufacturing, and commercial planning for EoE. Funds will also support expansion of EP-104GI into additional gastrointestinal indications such as esophageal strictures and fibrostenotic Crohn’s disease, as well as pipeline research and business development.
In corporate governance, all seven nominees proposed by management were elected to the company’s board of directors at the Annual General Meeting of Shareholders held on June 18, 2026. The directors include James A. Helliwell, Simon Pimstone, Richard M. Glickman, John Montalbano, Joseph Freedman, Amy Pott, and Robert Bazemore. KPMG LLP was re-appointed as the company’s auditor for the ensuing year.
Eupraxia is a clinical-stage biotechnology company focused on developing locally delivered, extended-release drug products using its proprietary Diffusphere technology. Its lead candidate, EP-104GI, is designed for targeted drug delivery into the esophageal wall for the treatment of EoE. The company has also completed a Phase 2b clinical trial for EP-104IAR for pain due to knee osteoarthritis.