04:37 PM EDT, 09/22/2025 (MT Newswires) -- Eupraxia Pharmaceuticals ( EPRX ) were last seen down 2.6% in after-hours Nasdaq trading after the company on Monday said it filed a preliminary prospectus supplement for a proposed public offering of its shares.

The company did not say how many shares it expects to sell in the offering or at what price, noting it plans to offer shares at a market-based price, with the final terms to be set at the time of pricing. The company also expects to grant underwriters a 30-day option to buy up to 15% more shares

The filing was made under its base shelf prospectus in Canada and also submitted to the US Securities Exchange and Commission under the disclosure system between the two countries, the company added.

Proceeds from the offering will primarily be used to support Eupraxia's drug pipeline, including ongoing clinical trials, regulatory work, and manufacturing scale-up, the company said, adding the offering's completion is subject to standard conditions, including approval for listing the new shares on both the TSX and Nasdaq.

Eupraxia shares were last seen down US$0.17 to US$6.48 after hours. They closed up $0.64 to $8.87 on the Toronto Stock Exchange.