Can Eupraxia Pharmaceuticals stock go even higher?

Research Capital analyst Andre Uddin says Eupraxia Pharmaceuticals (Eupraxia Pharmaceuticals Stock Quote, Chart, News, Analysts, Financials TSX:EPRX) reported another strong readout from its EoE program.

In a recent update, Uddin maintained his “Speculative Buy” rating and $14.00 target on Eupraxia.

Victoria-based Eupraxia is a drug delivery company developing EP-104GI for eosinophilic esophagitis, or EoE.

The company announced additional data from the Phase 1b/2a dose escalation portion of its RESOLVE trial.

Uddin believes the key finding was durability, with nine of 14 patients, or 64%, maintaining clinical remission 52 weeks after injection. Clinical remission was defined as at least a three-point improvement in the Straumann Dysphagia Index, which measures swallowing difficulty.

Cohort 8b achieved a mean SDI improvement of 3.3 points at Week 36, while Cohort 9 achieved a mean improvement of 3.0 points at both Week 36 and Week 52.

Uddin argued that the data supports the potential for once-yearly dosing of EP-104GI.

Across Cohorts 5 to 9, EoE Histology Scoring System scores showed a strong dose-response relationship at Weeks 4, 12 and 36.

EP-104GI was generally well tolerated across all dose levels, including the highest dose in Cohort 9. Eupraxia reported no treatment-emergent or procedure-related serious adverse events, and no cases of oropharyngeal candidiasis, adrenal insufficiency or glucose abnormalities.

The analyst said the absence of oropharyngeal candidiasis, a common side effect tied to systemic steroid exposure, suggests a potential safety advantage for EP-104GI’s local delivery.

“We remain bullish on EP-104GI, supported by the durability of symptom improvement, the histological dose-response relationship, and the safety profile observed to date,” Uddin said.

He also said EP-104GI could compare favourably with Sanofi’s Dupixent, a key EoE competitor.

In simple terms, Dupixent targets specific immune signals linked to inflammation, while EP-104GI works more broadly as an anti-inflammatory treatment delivered locally.

Uddin noted that EP-104GI has already shown inflammation reduction that appears stronger than Dupixent on an adjusted EoEHSS scale, while also producing a similar reduction in eosinophil counts.

He said that combination suggests EP-104GI could offer clinical benefit across multiple measures of EoE disease activity.

The next key milestone for EPRX is the placebo-controlled Phase 2b portion of RESOLVE, with top-line data expected in Q4 2026.

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