Eupraxia Pharmaceuticals Reports Q4 2024 Financial Results
Victoria, BC, March 20, 2025 – Eupraxia Pharmaceuticals Inc. (“Eupraxia” or the “Company”), a clinical-stage biotechnology company specializing in the development of innovative drug delivery solutions using its proprietary DiffuSphere™ technology, announced its financial results for the fourth quarter and full year ended December 31, 2024.
Financial Highlights
For the quarter ended December 31, 2024, Eupraxia reported a net loss of $15.2 million, or $0.16 per share, compared to a net loss of $12.8 million, or $0.15 per share, in the same period in 2023. The increase in net loss was primarily due to increased research and development expenses related to the Company’s ongoing clinical trials.
Total revenue for the quarter was $0.2 million, compared to $0.1 million in the same period in 2023. The increase in revenue was primarily due to the recognition of milestone payments under collaborations with strategic partners.
Operational Highlights
During the quarter, Eupraxia announced positive top-line results from its Phase 2 clinical trial of EPRX-101, its lead product candidate for the treatment of osteoarthritis. The trial met its primary endpoint, demonstrating statistically significant improvement in pain reduction compared to placebo. The Company plans to initiate a pivotal Phase 3 trial in the second half of 2025.
Additionally, Eupraxia announced a collaboration with Merck KGaA, Darmstadt, Germany, to develop and commercialize a DiffuSphere-enabled formulation of Merck’s investigational new drug, MK-8628, for the treatment of pain associated with cancer and other debilitating diseases. Under the terms of the agreement, Eupraxia will receive an upfront payment and is eligible to receive potential milestone payments and royalties on future sales.
Impact on Individuals
For individuals suffering from osteoarthritis, Eupraxia’s positive clinical trial results for EPRX-101 could lead to a new, more effective treatment option in the future. The drug, which uses Eupraxia’s DiffuSphere technology to optimize drug delivery, could potentially provide better pain relief and fewer side effects than current treatments.
Impact on the World
If successful, Eupraxia’s technology could revolutionize the way drugs are delivered, particularly for conditions where effective treatments are currently limited by poor drug bioavailability or high toxicity. This could lead to better outcomes for patients, reduced healthcare costs, and improved quality of life.
Conclusion
Eupraxia Pharmaceuticals’ fourth-quarter financial results highlighted the Company’s continued progress in developing innovative drug delivery solutions using its proprietary DiffuSphere technology. Positive clinical trial results for EPRX-101, a potential treatment for osteoarthritis, and a collaboration with Merck KGaA to develop a DiffuSphere-enabled formulation of MK-8628, could lead to significant advancements in the treatment of pain and other debilitating conditions.
For individuals suffering from these conditions, the potential for more effective and less toxic treatments could mean improved quality of life and reduced healthcare costs. For the world as a whole, the success of Eupraxia’s technology could lead to a paradigm shift in drug development and delivery, with far-reaching implications for healthcare and biotechnology industries.
As Eupraxia moves forward with its clinical trials and collaborations, investors and industry observers will be watching closely to see how this promising technology unfolds. With a strong scientific foundation and a commitment to innovation, Eupraxia is well-positioned to make a significant impact on the healthcare landscape.
