Eupraxia Pharmaceuticals Inc. ("Eupraxia" or the "Company") (TSX: EPRX), a clinical-stage biotechnology company with an innovative drug delivery platform technology, announced today that it has filed and obtained a receipt for a preliminary short form base shelf prospectus with the securities regulatory authorities in each of the provinces and territories of Canada.
Upon a final short form base shelf prospectus (the "Prospectus") becoming effective, these filings, subject to securities regulatory requirements, will allow the Company and certain of its securityholders to qualify the distribution of up to C$30 million of common shares, preferred shares, debt securities, warrants, subscription receipts, and units, or any combination thereof (collectively, the "Securities") during the 25-month period that the Prospectus is effective, in amounts, at prices and on terms based on market conditions at the time of any offering, and set forth in an accompanying shelf prospectus supplement ("Prospectus Supplement").
The filing of a Prospectus is intended to provide the Company with financing flexibility. Each Prospectus Supplement will contain specific information concerning, among other matters, the Securities to be issued and the use of proceeds from any such issuance. There is no certainty that any Securities will be offered or sold under the Prospectus and any Prospectus Supplement within the 25-month period that it is effective.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any Securities in the United States or to, or for the account or benefit of, U.S. persons. The Securities referred to in this press release may not be offered or sold in the United States absent registration or an applicable exemption from registration. A copy of the preliminary short form base shelf prospectus can be found the Company's profile on SEDAR
About Eupraxia
Eupraxia is a clinical-stage biotechnology company focused on the development of locally delivered, extended-release alternatives to currently approved drugs. Each of Eupraxia's product candidates has the potential to address therapeutic areas with high unmet medical need and strives to provide improved patient benefit by delivering targeted, long-lasting activity with fewer side effects.
Eupraxia's lead product candidate, EP-104IAR, is currently in Phase 2 development for the treatment of pain due to OA of the knee. In addition to EP-104IAR, Eupraxia is developing a pipeline of earlier-stage long-acting formulations. Potential pipeline candidates include a range of drugs for indications such as post-surgical pain (EP-105), and post-surgical site infections (EP-201), each designed to improve on the activity and tolerability of approved drugs. Eupraxia is also developing a formulation of EP-104IAR for use in canine and equine OA.
For further details about Eupraxia, please visit the Company's website
Notice Regarding Forward-looking Statements and Information
This news release includes forward-looking statements and forward-looking information within the meaning of Canadian securities laws. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" 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 press release include statements regarding the Company's business strategies and objectives, including the Company's potential plans for future offerings and the benefits of any such offerings, current and future plans and the Company's ability to move into Phase 3 development, expectations and intentions, statements regarding the Company's Phase 2 clinical trial, including the expected timing for dosing patients in the Phase 2 trial, expected timing of the data readout and the results thereof...
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