07:14 AM EDT, 09/23/2025 (MT Newswires) -- Eupraxia Pharmaceuticals ( EPRX ) overnight Monday, priced its previously announced public offering for about US$70 million, before deducting commissions and estimated expenses, taking its U.S.-listed shares down 13%, pre-market.

The company issued 12.7-million common shares at $5.50 apiece as part of the offering. It also granted the underwriters a 30-day option to buy up to an additional 1.9-million shares on the same terms and conditions.

The offering is expected to close on Sept. 24, and proceeds from the offering are intended to be used primarily for the continued advancement of its product pipeline, including the completion of ongoing preclinical studies and clinical trials, regulatory submissions, and associated commercial preparation and manufacturing scale-up activities.

The company said a portion of the proceeds will be allocated to research and development of additional pipeline candidates, business development initiatives, and general corporate needs. It may also use a portion of the proceeds to expand its intellectual property portfolio and "strengthen" its corporate infrastructure to support future growth.

U.S.-listed shares of the company were last seen down $0.89 at $5.76 in pre-market trading.