Eupraxia Pharmaceuticals Reports Fourth Quarter 2024 Financial Results
"During the fourth quarter of 2024, and again in the current quarter of 2025, we delivered compelling data from our Phase 1b/2a RESOLVE trial for EP-104GI as a potential treatment for eosinophilic esophagitis," said Dr. James Helliwell, Chief Executive Officer of Eupraxia. "The results from the first six cohorts of the trial show that precise, localized delivery of EP-104GI at higher doses is leading to further improvements in tissue health and symptom reduction outcomes. In addition, during the fourth quarter, we raised C$44.5 million, significantly strengthening our balance sheet and ensuring the Company is well-funded into the second half of 2026."
Recent Operational and Financial Highlights
On October 2, 2024, the Company announced the appointment of Dr. Amanda Malone as the Chief Operating and Scientific Officer of the Company.
On October 10, 2024, the Company announced a poster presentation at the United European Gastroenterology Week 2024 featuring data from cohorts one through four of Eupraxia's ongoing RESOLVE trial in EoE.
On October 15, 2024, the Company announced that Phase 2b data from its SPRINGBOARD trial evaluating EP-104IAR for the treatment of knee osteoarthritis was published in leading peer reviewed medical journal The Lancet Rheumatology.
On October 28, 2024, the Company announced two poster presentations at the American College of Gastroenterology 2024 Annual Scientific Meeting centered on EP-104GI for the treatment of EoE. One poster received a Presidential Award from the conference, which is a distinction for high quality, novel, unique, and interesting research, while the other was designated an "Abstract of Interest".
On October 31, 2024, the Company announced the closing of a non-brokered private placement for gross proceeds of C$44.5 million, the appointment of Mr. Joseph Freedman to its Board of Directors, and the termination of its C$12 million convertible debt facility.
On November 12, 2024, the Company announced positive 12-week data from the fifth cohort of the ongoing RESOLVE trial in patients with eosinophilic esophagitis ("EoE"), noting increasingly positive data on efficacy and safety outcomes as well as emerging evidence of improved patient responses related to higher dosing levels.
On November 14, 2024, the Company announced a poster presentation at the American College of Rheumatology Convergence 2024 Annual Meeting covering data from Eupraxia's Phase 2b SPRINGBOARD trial evaluating EP-104IAR for the treatment of knee osteoarthritis.
Subsequent to quarter end, on February 18, 2025, the Company announced the return of seasoned capital markets executive Alex Rothwell to the role of Chief Financial Officer, succeeding the retiring Bruce Cousins.
Subsequent to quarter end, on February 25, 2025, the Company announced positive 12-week data from the sixth cohort of the ongoing RESOLVE trial in patients with EoE noting no adverse events and continued positive data on efficacy and safety outcomes as well as further evidence of improved patient responses tied to higher dosing levels.
Fourth Quarter 2024 Financial Review
The Company incurred a net loss of $7.5 million for the three months ended December 31, 2024, versus a net loss of $10.6 million for the three months ended December 31, 2023. The decrease in net loss was primarily due to lower research and development costs and reduced other expenses incurred during the period.
The Company had cash of $33.1 million as of December 31, 2024, up from $19.3 million at the end of the fourth quarter of 2023. These funds are being used to fund clinical trials in EP-104 and the remainder of the proceeds will be used for general and administrative expenses, working capital needs and other general corporate purposes.
The Company anticipates that existing cash reserves, and anticipated proceeds from in-the-money warrants, will be sufficient to fund the Company to the third quarter of 2026.
As of December 31, 2024, the Company had 35,641,603 common shares issued and 8,905,638 preferred shares outstanding.
Potential Impact of Tariffs
Management continues to monitor the North American trade situation stemming from the February 2025 announcement by the U.S. government of proposed 25% tariffs on selected imported Canadian goods, and the subsequent Canadian announcement of planned retaliatory tariffs on selected imported U.S. goods.
Eupraxia sources its active pharmaceutical ingredient ("API") (fluticasone propionate) from the United States and clinical supplies of EP-104 IAR and EP-104GI are manufactured in the U.S. by a third-party. The Company expects to continue to access both API and manufactured products from the U.S.
The Company maintains U.S. dollar balances to pay U.S. dollar expenses and to minimize the impact of short-term fluctuations in exchange rates.
Management continues to assess the potential direct and indirect impacts of tariffs, counter-tariffs and other trade protection measures on Eupraxia's business and will take those steps it deems necessary to attempt to mitigate any impact as the situation evolves.
Financial Statements and Management Discussion & Analysis
Please see the audited consolidated financial statements and related MD&A for more details. The audited consolidated financial statements for the year ended December 31, 2024, and related MD&A, have been reviewed and approved by Eupraxia's Audit Committee and Board of Directors. For a more detailed explanation and analysis, please refer to the MD&A that has been filed under the Company's profile on EDGAR at www.sec.gov/search-filings, and on SEDAR+ at sedarplus.ca and is also available on the Company's website at www.eupraxiapharma.com.
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. DiffuSphere™, a proprietary, polymer-based micro-sphere technology, is designed to facilitate targeted drug delivery of both existing and novel drugs. The technology is designed to support extended duration of effect and delivery of drugs in a hyper-localized fashion, targeting only the tissues that physicians are wanting to treat. We believe the potential for fewer adverse events may be achieved through the precision targeting and the stable and flat delivery of the active ingredient when using the DiffuSphere™ technology, versus the peaks and troughs seen with more traditional drug delivery methods. The precision of Eupraxia's DiffuSphere™ technology platform has the potential to augment and transform existing FDA-approved drugs to improve their safety, tolerability, efficacy and duration of effect. The potential uses in therapeutic areas may go beyond pain and inflammatory gastrointestinal disease, where Eupraxia currently is developing advanced treatments, to also be applicable in oncology, infectious disease and other critical disease areas.
Eupraxia's EP-104GI is currently in a Phase 1b/2a trial, the RESOLVE trial, for the treatment of EoE. EP-104GI is administered as an injection into the esophageal wall, providing local delivery of drug. This is a unique treatment approach for EoE. Eupraxia also recently completed a Phase 2b clinical trial (SPRINGBOARD) of EP-104IAR for the treatment of pain due to knee osteoarthritis. The trial met its primary endpoint and three of the four secondary endpoints. In addition, Eupraxia is 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", "suggests", "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 the Company's product candidates, including their expected benefits to patients with respect to safety, tolerability, efficacy and duration; the results gathered from studies and trials of Eupraxia's product candidates; the potential for the Company's technology to impact the drug delivery process; potential market opportunity for the Company's products; potential pipeline indications; expectations regarding the funding of the Company's operations to the third quarter of 2026, and the use of cash reserves and proceeds from the exercise of warrants; and expectations regarding continued access to both API and manufactured products from the U.S., as well as ongoing monitoring and necessary actions to attempt to mitigate any impact of tariffs, counter-tariffs and other trade protection measures on the Company's business. 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 its 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 potential impact of tariffs on the cost of the Company's API and clinical supplies of EP-104IAR and EP-104GI; 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/eupraxia-pharmaceuticals-reports-fourth-quarter-2024-financial-results-302407535.html
SOURCE Eupraxia Pharmaceuticals Inc.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Associated Press
4 hours ago
- Associated Press
Now Live in Canada: Worldwide Club Offers for Travel Enthusiasts
TORONTO, Aug. 17, 2025 /PRNewswire/ -- Travelzoo® (NASDAQ: TZOO), the club for travel enthusiasts, announces the release of Club Offers for Club Members in Canada. Rigorously vetted and negotiated for us travel enthusiasts: Some offers have limited inventory and are subject to availability. Are you a travel enthusiast? Join the club today: About Travelzoo We, Travelzoo®, are the club for travel enthusiasts. We reach 30 million travellers. Club Members receive Club Offers personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with thousands of top travel suppliers—our long-standing relationships give us access to irresistible deals. Travelzoo is a registered trademark of Travelzoo. All other names are trademarks and/or registered trademarks of their respective owners. Media contact: Amanda Ieraci – Toronto +1 437 866 8540 [email protected] View original content to download multimedia: SOURCE Travelzoo
Associated Press
4 hours ago
- Associated Press
Global Times: China Port Watch: From a small harbor to a global logistics powerhouse as Lianyungang expands global connectivity under China's Belt and Road Initiative
BEIJING, Aug. 17, 2025 /PRNewswire/ -- At the dock, a pure electric tugboat lies quietly at a berth. Stepping into the cabin, there is none of the roar or vibration of a traditional fuel-powered tug, only the faint hum of electric currents as the equipment runs. Crew members are checking the systems, with screens displaying real-time data on energy consumption and operational status. When mooring operations begin, a single press of a switch on the bridge sets the vessel in motion, and within minutes, the tug departs smoothly from the dock to precisely assist a large ship in berthing or unberthing. Compared with traditional fuel-powered tugboats, the electric model in Lianyungang, the largest port in Jiangsu Province, offers zero emissions and quiet, low vibration operation, greatly improving air quality and crew comfort. They can operate for 1-2 days, meeting the demands of port tug-assist operations, and can be fully recharged within 2-3 hours using high-voltage fast charging at dedicated berths. Thanks to intelligent energy management, they use only one-third of the energy consumed by traditional fuel tugs and require fewer crew members, saving the port about 2-3 million yuan annually in fuel and labor costs. This is part of China's first all-electric tugboat fleet, a three-vessel lineup that forms a key element of Lianyungang's technological and green transformation to become a modern port of global significance, playing a crucial role in the Belt and Road Initiative (BRI). On September 13, 2022, a signed article by President Xi Jinping titled 'Build on the Past to Make Greater Strides in China-Kazakhstan Relations' was published on the Kazakhstanskaya Pravda newspaper ahead of his state visit to Kazakhstan, the Xinhua News Agency reported. The article noted that at the China-Kazakhstan International Logistics Base in the eastern Chinese port of Lianyungang, products from Kazakhstan set sail for the Pacific Ocean. The China-Europe freight trains are running through Kazakhstan via more routes, making an important contribution to the stability of global industrial and supply chains. Small port to global hub Yin Deming, captain of the electric tugboat who has worked at the port for 18 years, has taken a front seat to witness the transformation of Lianyungang from a small port to a global hub. Compared with traditional fuel-powered tugboats, the electric tugs feature higher automation and simpler operation, Yin told the Global Times as he skillfully adjusted the tug's angle with a simple control stick in the wheelhouse, smoothly guiding it toward an incoming cargo ship. 'In the past, starting the tug required multiple steps and coordination across departments, making it time-consuming and complex. Now, a single command from the bridge starts everything, eliminating the need for on-site manual operations and improving efficiency,' Yin said, adding that the time from receiving the operation notice to the tug leaving the dock has been cut from 8-10 minutes to less than 2 minutes. The electric tugboat is just one example of the changes at Lianyungang. Xue Xilei, executive deputy general manager of LYG-PSA Container Terminal Co.,Ltd, is well placed to illustrate the transformation of the port. Over the past decades, he has seen it evolve. 'About 30 years ago, the port had only about three companies and an annual throughput of 10 million tons... Today it handles more than 300 million tons of cargo per year, with a vibrant cluster of enterprises, and has become a hub of international trade.' The BRI has given Lianyungang a new launching pad. In 2017, President Xi pointed out in his speech during his state visit to Kazakhstan that the opening of the freight train of China-Kazakhstan cross-border transportation not only brings benefits to China and Kazakhstan but also provides more convenience for transportation and cooperation opportunities for the countries along the 'Belt and Road,' showcasing the organic integration of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, Xinhua reported. On the large screen at the dispatch center of the China-Kazakhstan (Lianyungang) Logistics Cooperation Base, information on destinations, origins, and cargo of China-Europe (Central Asia) freight trains between China and Kazakhstan was displayed and updated in real time. And, it provides live video footage of the Horgos Dry Port, known as the 'Eastern Gateway.' 'Now, transport capacity, train frequency, and operational efficiency have all improved a lot compared to 10 years ago,' said Kong Xiangwei, vice general manager of Lianyungang China-Kazakhstan International Logistics Co., Ltd, noting that what once took four hours to load a freight train, can now be done in only two hours, with a maximum daily throughput of seven trains. The China-Kazakhstan (Lianyungang) Logistics Cooperation Base, which is part of Lianyungang's free trade zone, is only one key aspect of city's broader integration into the BRI. Since the approval in August 2019, the city's free trade zone has focused on building an Asia-Europe transport hub and promoting cooperation with BRI partner countries, Wang Yunlong, director of the Institutional Innovation Bureau of the Lianyungang Free Trade Zone, told the Global Times. Although occupying only 0.27 percent of the city's total area, the free trade zone contributes nearly one-third of the city's actual foreign investment utilization, one-fifth of its import and export trade, and one-eighth of newly established enterprises. Greater connectivity Besides its role in the BRI, Lianyungang is also strengthening cooperation with many developing countries, helping to promote their high-quality and sustainable development. Located about 13 kilometers from the port in the Lianyungang Economic Development Zone, a local factory was buzzing with activity. It is producing massive wind power blades over 100 meters long for both domestic and overseas market. The factory now operates seven such blade production lines. Some steps in the firm's operations are now automated, Qiao Xiaoliang, general manager of Zhongfu Lianzhong Wind Power Blade (Lianyungang) Co., Ltd, told the Global Times, adding that automated processes include trimming, grinding, painting, and transportation. In recent years, with the promotion of high-quality development of the BRI, the company's wind power blades have gained popularity in overseas market. Taking advantage of its close proximity to Lianyungang Port, the company's export business is expanding quickly. Its products reach countries from Bolivia in South America, to Bosnia and Herzegovina in Europe. There are currently two factories in Lianyungang producing around 240 blades per month. If production runs smoothly, the capacity could rise to 280 blades, Qiao said. Another factory also showcases the industrial muscle of this bustling trade city. At Lianyungang Feiyan Blanket Co., Ltd, which produces everything from warp- and weft-knitted blankets to delicate thin velvet throws, only a handful of workers dot the vast factory floor. 'Our level of automation is very high — from the equipment to the production lines, almost everything is developed and manufactured in-house. The current automation rate has reached 70-80 percent,' Xu Yingxi, general manager of Lianyungang Feiyan Blanket Co, told Global Times. The company's products have gained a reputation for high quality in many parts of the world, including BRI partner countries, with business presence in regions such as South Africa and several in South America. Lianyungang maintains very close ties with many BRI partner countries. Kong told the Global Times that Lianyungang's advantage lies in its dual role as both a port and a freight train hub, making it a key international logistics hub connecting Japan, South Korea, Southeast Asia, and Central Asia, said Kong. Transported cargo includes used cars, auto parts, and other high value-added products. Resilient trade From Lianyungang's sea port and freight-train logistics hub to its manufacturing facilities, the city is promoting global cooperation with an open and forward-looking mindset. The efforts underscore Lianyungang's rising prominence as a promising freight trade hub. In the first half of 2025, Lianyungang's foreign trade reached 119.22 billion yuan, with exports totaling 26.27 billion yuan, marking a year-on-year increase of 17.9 percent, according to data from China's General Administration of Customs. Lianyungang has made strides in propelling foreign trade growth, while continuously expanding a network of international partners. Trade with the BRI partner countries has grown by over 20 percent annually for four consecutive years, surpassing 100 billion yuan for the first time in 2024 and setting a historic high, according to Lianyungang Municipal Government. This year, Lianyungang has witnessed many 'firsts.' In July, the Xin Xin Hai 1, a cargo ship, set sail from Lianyungang, marking the first voyage of the China-Russia Arctic 'Ice Silk Road' to Arkhangelsk. In May, the Anji Ansheng, the world's largest car carrier built by China, left Lianyungang on its maiden trip to Europe, showcasing China's automotive sector strength. 'While China is opening more and more shipping routes and our network of foreign trade partners is expanding, our port is leveraging the momentum to continue building, transforming, and upgrading,' Xue said. Although unilateralism and protectionism have brought short-term pressures to global trade, Xue expressed confidence in the resilience and strength of Chinese manufacturing and trade. He noted that exports to ASEAN and other markets have continued to grow, with trade becoming more active under the RCEP framework. For example, cold-chain imports at Lianyungang are on the rise, driven by growing demand for fruit and frozen products from Southeast Asian countries. Looking into the future, Xue noted that the port is embracing automation, which will unleash greater potentials. 'The automated terminal area has already broken ground, though full automation has yet to be achieved, and work is progressing steadily,' Xue said. Pointing to a 90,000-square-meter space now under construction, he described the tall quay cranes and blue yard cranes in view, noting that they will eventually operate without human intervention, consolidating Lianyungang's position as a major trade hub. View original content: SOURCE Global Times
Yahoo
5 hours ago
- Yahoo
Do Daldrup & Söhne's (ETR:4DS) Earnings Warrant Your Attention?
Explore Daldrup & Söhne's Fair Values from the Community and select yours For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it currently lacks a track record of revenue and profit. Sometimes these stories can cloud the minds of investors, leading them to invest with their emotions rather than on the merit of good company fundamentals. A loss-making company is yet to prove itself with profit, and eventually the inflow of external capital may dry up. Despite being in the age of tech-stock blue-sky investing, many investors still adopt a more traditional strategy; buying shares in profitable companies like Daldrup & Söhne (ETR:4DS). Now this is not to say that the company presents the best investment opportunity around, but profitability is a key component to success in business. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. How Fast Is Daldrup & Söhne Growing? If a company can keep growing earnings per share (EPS) long enough, its share price should eventually follow. That makes EPS growth an attractive quality for any company. Recognition must be given to the that Daldrup & Söhne has grown EPS by 47% per year, over the last three years. While that sort of growth rate isn't sustainable for long, it certainly catches the eye of prospective investors. One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. Daldrup & Söhne shareholders can take confidence from the fact that EBIT margins are up from 2.9% to 12%, and revenue is growing. That's great to see, on both counts. In the chart below, you can see how the company has grown earnings and revenue, over time. Click on the chart to see the exact numbers. Check out our latest analysis for Daldrup & Söhne Of course the knack is to find stocks that have their best days in the future, not in the past. You could base your opinion on past performance, of course, but you may also want to check this interactive graph of professional analyst EPS forecasts for Daldrup & Söhne. Are Daldrup & Söhne Insiders Aligned With All Shareholders? Theory would suggest that it's an encouraging sign to see high insider ownership of a company, since it ties company performance directly to the financial success of its management. So as you can imagine, the fact that Daldrup & Söhne insiders own a significant number of shares certainly is appealing. Indeed, with a collective holding of 58%, company insiders are in control and have plenty of capital behind the venture. This should be seen as a good thing, as it means insiders have a personal interest in delivering the best outcomes for shareholders. In terms of absolute value, insiders have €45m invested in the business, at the current share price. So there's plenty there to keep them focused! Is Daldrup & Söhne Worth Keeping An Eye On? Daldrup & Söhne's earnings per share have been soaring, with growth rates sky high. That EPS growth certainly is attention grabbing, and the large insider ownership only serves to further stoke our interest. The hope is, of course, that the strong growth marks a fundamental improvement in the business economics. Based on the sum of its parts, we definitely think its worth watching Daldrup & Söhne very closely. Even so, be aware that Daldrup & Söhne is showing 3 warning signs in our investment analysis , you should know about... Although Daldrup & Söhne certainly looks good, it may appeal to more investors if insiders were buying up shares. If you like to see companies with more skin in the game, then check out this handpicked selection of German companies that not only boast of strong growth but have strong insider backing. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
