Eupraxia Pharmaceuticals Reaches its Enrollment Target for the RESOLVE Trial Investigating EP-104GI for the Treatment of Eosinophilic Esophagitis

This news release includes forward-looking statements and forward-looking information within the meaning of applicable securities laws.

Often, but not always, forward-looking information can be identified by the use of words such as "plans", "is expected", "expects", “on track”, “target”, “estimates”, “look forward”, “designed to”, "suggests", “indicates”, "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes", "potential" or variations (including negative and grammatical variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements in this news release include statements regarding the conclusions of the sample size analysis/re-estimation; the final number of patients to be dosed in the Phase 2b portion of the RESOLVE trial; the expected timing, scope and content of the Phase 2b interim analysis; the interpretation of safety and tolerability data from the RESOLVE trial; the potential adoption of EP-104GI by patients and physicians; the incidence, prevalence and growth of EoE; the Company's expected timing of reporting additional data; the interpretation of data from the RESOLVE trial, including symptom response; the Company’s expected timing of reporting additional data from the RESOLVE trial, including the Phase 2b portion thereof; the Company's product candidates, including their expected benefits with respect to safety, tolerability, efficacy and duration of effect and their potential use in therapeutic areas beyond pain and inflammatory gastrointestinal disease; the expectations regarding the advancement of the Company’s product candidates through clinical development; the results of clinical trials of the Company's product candidates; the potential for the Company’s technology to impact the drug delivery process; the potential market opportunity for the Company’s product candidates; and potential pipeline indications.

Such statements and information are based on the current expectations of Eupraxia's management, and are based on assumptions, including but not limited to: the RESOLVE trial continuing to be conducted as currently designed; the accuracy of the sample size analysis and the assumptions on which it was based; the accuracy of third-party market research; future research and development plans for the Company proceeding substantially as currently envisioned; industry growth trends, including with respect to projected and actual industry sales; the Company's ability to obtain positive results from the Company's research and development activities, including clinical trials; and the Company's ability to protect patents and proprietary rights.