VICTORIA, British Columbia — February 18, 2026 — Leads & Copy —
Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) (TSX:EPRX) has filed a preliminary prospectus supplement for a proposed public offering of common shares, according to a press release. The clinical-stage biotechnology company is known for its Diffusphere™ technology, which optimizes local, controlled drug delivery.
The preliminary prospectus supplement (the “Supplement”) is related to the company’s short form base shelf prospectus dated February 5, 2024 (the “Base Prospectus”). The company may offer common shares or pre-funded warrants to purchase common shares.
The Supplement was also filed with the U.S. Securities Exchange and Commission (the “SEC”) as part of a registration statement on Form-10, as amended. The SEC declared the registration statement effective on February 7, 2024, in accordance with the Multijurisdictional Disclosure System between Canada and the United States.
Underwriters may be granted a 30-day option to purchase up to an additional 15% of the number of common shares (and pre-funded warrants) offered. The offering is expected to be priced relative to the market, with final terms determined at pricing. There is no guarantee as to if or when the offering may be completed, or the actual size or terms.
The closing of the offering is subject to customary conditions, including the listing of common shares on the Toronto Stock Exchange (the “TSX”) and the Nasdaq Capital Market (the “Nasdaq”), and any required TSX approvals.
Cantor and LifeSci Capital are joint book-running managers for the offering. Bloom Burton is also a co-manager.
Eupraxia intends to use the net proceeds to continue advancing EP-104GI for Eosinophilic Esophagitis. This includes completing ongoing preclinical studies and Phase 2 clinical trials, preparing for a Phase 3 clinical trial (including related regulatory submissions), and manufacturing activities. The company also plans to undertake commercial and market development activities to prepare for product launch.
A portion of the proceeds will be used to accelerate and expand clinical studies with EP-104GI in additional gastrointestinal indications, including esophageal strictures and fibrostenotic Crohn’s disease.
Remaining proceeds will be allocated to research and development of additional pipeline candidates, business development initiatives, and general corporate purposes, including employee salaries, working capital, leases, administrative expenses, and capital expenditures. The company may also use proceeds to expand its intellectual property portfolio and strengthen its corporate infrastructure.
The Supplement and Base Prospectus contain detailed information about the offering and are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Copies may also be obtained from Cantor Fitzgerald & Co., LifeSci Capital LLC, or Bloom Burton Securities Inc. Prospective investors should read these documents before making an investment decision.
Eupraxia Pharmaceuticals Inc. is a clinical-stage biotechnology company focused on locally delivered, extended-release products for therapeutic areas with high unmet medical needs. The company’s Diffusphere™ technology is designed for targeted drug delivery of existing and novel drugs.
Source: Eupraxia Pharmaceuticals Inc.
