Eupraxia Pharmaceuticals ( (TSE:EPRX) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Eupraxia Pharmaceuticals’ stock has experienced a downturn following the announcement of a public offering of common shares. This move aims to bolster the company’s financial resources for product development and corporate growth. However, the company’s challenging financial position, characterized by no revenue and a reliance on external financing, has led to changes in price targets. Analysts point out the risks associated with high liabilities and the potential benefits of the capital raise, but the lack of profitability continues to be a concern.
More about Eupraxia Pharmaceuticals
YTD Price Performance: 98.88%
Average Trading Volume: 34,297
Technical Sentiment Signal: Buy
Current Market Cap: C$324M
For further insights into EPRX stock on TipRanks’ Stock Analysis page.
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