Eupraxia common shares now listed on the Nasdaq Capital Market ("Nasdaq") under the symbol "EPRX" Additional data from RESOLVE study evaluating EP-104GI for the treatment of eosinophilic esophagitis ("EoE") expected in the second quarter of 2024 Annual general and special meeting scheduled for June 6, 2024 VICTORIA, BC, May 8, 2024 /CNW/ - Eupraxia Pharmaceuticals Inc. ("Eupraxia" or the "Company") (NASDAQ:EPRX) (TSX:EPRX), a clinical-stage biotechnology company leveraging its proprietary DiffuSphere™ technology to optimize drug delivery for applications with significant unmet need, today announced its financial results for the first quarter of 2024 and provided a corporate update. "The first quarter of 2024 was a highly productive period for Eupraxia, with our team achieving multiple clinical and corporate milestones," said Dr. James Helliwell, CEO of Eupraxia. "We now possess a stronger balance sheet, a NASDAQ listing providing greater access to U.S. investors, a Phase 3 ready asset and a Phase 2a asset advancing in the clinic. Looking forward to the remainder of 2024, we anticipate regular data updates from our RESOLVE study as well as anticipated U.S. Food and Drug Administration feedback on the registration path for EP-104GI. In addition, we're continuing business development discussions with prospective strategic partners for our Phase 3 osteoarthritis program and look forward to expanding our funding opportunities for its continued development." Recent Operational and Financial Highlights Subsequent to quarter end, on April 20, 2024, the Company presented two abstracts at the Osteoarthritis Research Society International ("OARSI") World Congress 2024, which included results from the SPRINGBOARD Phase 2b study evaluating efficacy in patients with knee osteoarthritis treated with EP-104IAR (long-acting intra-articular injection of fluticasone propionate). The study met its primary and three of four secondary endpoints, suggesting that treatment with EP-104IAR has the potential to result in clinically and statistically meaningful impact on pain, while also presenting an encouraging safety profile. In combination with the Company's pre-clinical and MRI results, data from the study suggest that EP-104IAR may have best-in-class potential in terms of managing cartilage health. The Company announced that its common shares would begin trading on the Nasdaq, under the ticker symbol "EPRX" effective April 5, 2024. On March 15, 2024, the Company announced the closing of its overnight marketed public offering for gross proceeds of C$33,867,784, which included the issuance of 943,435 shares upon exercise of the over-allotment option. On February 5, 2024, the Company announced a positive clinical data update from the ongoing RESOLVE Phase 1b/2a trial evaluating EP-104GI for the treatment of eosinophilic esophagitis ("EOE"). The update included: No serious or treatment related adverse events in either the first or second cohort; Second cohort demonstrated an average 60% reduction in Dysphasia Likert score and an average 80% reduction in Odynophagia Likert score; First cohort maintaining signs of efficacy to six months; Third cohort now fully dosed at five times the first cohort dose and two-and-a-half times the second cohort dose; and Results from third cohort are expected in the second quarter of 2024. On February 1, 2024, the Company announced that it initiated a Phase 3 development program for EP-104IAR, the Company's lead drug candidate for the treatment of OA of the knee, following completion of its End-of-Phase 2 meeting with the U.S. Food & Drug Administration ("FDA"). The Company is currently exploring partnering opportunities for this drug candidate and full initiation of this Phase 3 program remains pending. On January 30, 2024, the Company announced positive data from an MRI exploratory sub-study in Phase 2 SPRINGBOARD trial evaluating the safety and efficacy of EP-104IAR for the treatment of OA, which demonstrated a decrease in joint inflammation and improvement in cartilage quality and morphology compared to placebo.  The Company anticipates opportunities for broader dissemination of this important data in the second half of 2024. Corporate ...