EUPRAXIA PHARMACEUTICALS INC.
EPRX · Pharmaceutical Preparations · EDGAR filings ↗
Grade
C68Clinical-stage pharma with a strong balance sheet and a positive but modest Phase 2 knee-OA readout.
Strengths
- Statistically significant Phase 2 win (WOMAC pain, p=0.004), a real de-risking event
- Robust liquidity: $80.5M cash, current ratio 15.1 (91st pct)
Risks
- Deeply unprofitable (ROA/ROE ~-45%) and pre-revenue, dependent on future financing
- Phase 2 effect size modest vs MCID, leaving clinical/commercial differentiation unproven ahead of Phase 3
Notable findings
- Notable holderHeld by 2 notable fund(s): CITADEL ADVISORS LLC, GOLDMAN SACHS GROUP INC (as of 2026-03-31)
- AccumulatingInstitutional holders rose 1→4 QoQ (2025-12-31→2026-03-31)
- New fund positionNotable fund(s) opened this quarter: CITADEL ADVISORS LLC
- Trial readout soonUpcoming trial readout ~2026-12 — PHASE1/PHASE2 · Eosinophilic Esophagitis
Key metrics
Return on equity
-47.0%
Return on assets
-44.8%
Current ratio
15.1×
Tangible book value
$82M
Cash & investments
$81M
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT05608681 ↗ | A Trial to Evaluate EP-104GI in Adults With Eosinophilic Esophagitis (EoE). Eosinophilic Esophagitis | PHASE1/PHASE2 | Recruiting | 2026-12-01 |
| NCT04120402 ↗ | Study to Evaluate the Efficacy and Safety of EP-104IAR in Patients With Osteoarthritis of the Knee Osteoarthritis, Knee | PHASE2 | Completed | 2023-05-17 |
| NCT02609126 ↗ | Safety Study of a Long-Acting Injectable Steroid to Treat Knee Osteoarthritis Osteoarthritis, Knee | PHASE1 | Completed | 2017-12-28 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 40-F | 2026-03-13 | 2025-12-31 | 0001193125-26-104765 ↗ |
| 40-F | 2025-03-20 | 2024-12-31 | 0001193125-25-059352 ↗ |
| 40-F | 2024-04-01 | 2023-12-31 | 0001193125-24-083584 ↗ |