Quantumup
Nov 9, 11:39 AM
RBC Capital🏁
$EPRX and said--We are initiating coverage of Eupraxia Pharmaceuticals with an Outperform, Speculative Risk rating and
$14.00 PT.
[REGN - SNY PHAT TRAX BMY ABBV]
Eupraxia is a clinical-stage biotech developing EP-104GI, a once-yearly submucosal injection that pairs a well-characterized, FDA-approved corticosteroid (fluticasone propionate) with a first-in-class extended-release delivery platform (DiffuSphere), sustaining near-constant esophageal drug levels for 9-12 months from a single endoscopic administration.
The target indication, eosinophilic esophagitis, is projected to affect ~1MM Americans (2030E).
With open-label Ph1b/2a data demonstrating ~80% symptomatic remission, a clean safety profile, and a vehicle-controlled Ph2b interim readout expected in Dec-2026, we believe EPRX offers an asymmetric risk/ reward with meaningful upside.
