Financing ·
Eupraxia establishes ATM program to sell up to US$125M of common shares
EPRXEupraxia Pharmaceuticals Inc.
Eupraxia Pharmaceuticals has entered into a sales agreement with Jefferies LLC and Jefferies Securities, Inc. to establish an at-the-market (ATM) equity offering program. This program allows the company to offer and sell up to US$125 million (or the Canadian dollar equivalent) of its common shares from time to time through these agents at prevailing market prices. The CFO stated that this is a general corporate housekeeping item consistent with industry norms and confirmed there are no current plans to use the ATM program in the near term, as existing cash balances cover planned expenses until the second half of 2028. Eupraxia Pharmaceuticals Inc. is a clinical-stage biotechnology company focused on developing locally delivered, extended-release products using its proprietary Diffusphere technology.