Eupraxia Pharmaceuticals (EPRX) 40-F 1 Apr 24 2023 FY Annual report (Canada) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2023 shares
Document Information [Line Items]
Document Type	40-F
Document Registration Statement	false
Document Annual Report	true
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Registrant Name	EUPRAXIA PHARMACEUTICALS INC.
Entity Central Index Key	0001581178
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding	27,282,165
Entity Primary SIC Number	2834
Entity File Number	001-41923
Entity Incorporation, State or Country Code	A1
Entity Address, Address Line One	201-2067 Cadboro Bay Road
Entity Address, City or Town	Victoria
Entity Address, State or Province	BC
Entity Address, Country	CA
Entity Address, Postal Zip Code	V8R 5G4
City Area Code	250
Local Phone Number	590-3968
Annual Information Form	true
Audited Annual Financial Statements	true
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Name	KPMG LLP
Auditor Firm ID	85
Auditor Location	Vancouver, Canada
Business Contact [Member]
Document Information [Line Items]
Contact Personnel Name	Corporation Service Company
Entity Address, Address Line One	19 West 44th Street
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10036
City Area Code	800
Local Phone Number	927-9800

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 19,341,756	$ 18,263,389
Prepaid expenses and deposits	270,710	235,903
Amounts receivable	190,612	89,715
Total current assets	19,803,078	18,589,007
Non-current assets
Prepaid expenses	6,904	2,492
Property and equipment, net	409,587	443,464
Right-of-use asset, net	46,660	87,286
Total assets	20,266,229	19,122,249
Current liabilities
Accounts payable and accrued liabilities	3,921,875	2,928,566
Loans payable – current portion	62,709	79,418
Lease liability – current portion	53,316	50,403
Payable to Auritec	5,000,000	0
Convertible debt	10,336,003
Total current liabilities	19,373,903	3,058,387
Non-current liabilities
Loans payable		62,709
Lease liability		51,303
Convertible debt		8,741,996
Total liabilities	19,373,903	11,914,395
Shareholders' equity (deficit)
Share capital, without par value; unlimited shares authorized; issued and outstanding: 27,282,165 (December 31, 2022 - 21,593,145	92,913,585	71,003,225
Additional paid-in capital	17,510,469	16,850,165
Deficit	(105,501,295)	(77,280,499)
Accumulated other comprehensive loss	(2,706,552)	(2,786,366)
Equity attributable to the owners of the Company	2,216,207	7,786,525
Non-controlling interest	(1,323,881)	(578,671)
Total shareholders' equity (deficit)	892,326	7,207,854
Total liabilities and shareholders' equity (deficit)	$ 20,266,229	$ 19,122,249

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock no par value	$ 0	$ 0
Common stock unlimited shares authorized	Unlimited	Unlimited
Common stock shares issued	27,282,165	21,593,145
Common stock shares outstanding	27,282,165	21,593,145

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive loss - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Expenses
General and administrative	$ 7,284,004	$ 3,987,598
Research and development	20,563,225	13,629,854
Total expenses	27,847,229	17,617,452
Other income/(expenses)
Interest income	862,969	431,799
Interest expense	(1,170,173)	(982,856)
Loss on sale of equipment	(4,846)	(6,637)
Foreign exchange gain	66,291	240,547
Change in fair value of financial instruments	(836,595)	(1,056,165)
Total other income	(1,082,354)	(1,373,312)
Net loss before tax expense	(28,929,583)	(18,990,764)
Tax expense	(36,423)	0
Net loss for the year	(28,966,006)	(18,990,764)
Loss attributable to:
Owners of the Company	(28,220,796)	(18,489,629)
Non-controlling interest	(745,210)	(501,135)
Net loss for the year	(28,966,006)	(18,990,764)
Foreign currency translation adjustment	79,814	(1,276,388)
Comprehensive loss for the year	$ (28,886,192)	$ (20,267,152)
Loss per share – basic	$ (1.17)	$ (0.96)
Loss per share – diluted	$ (1.17)	$ (0.96)
Weighted average shares outstanding – basic	24,146,623	19,285,447
Weighted average shares outstanding – diluted	24,146,623	19,285,447

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Deficit)	USD ($) shares	Excercise of warrants [Member] USD ($) shares	Overnight marketed public offering [Member] USD ($)	Private placement [Member] USD ($) shares	Private placement [Member] CAD ($) shares	Common stock [Member] USD ($) shares	Common stock [Member] Excercise of warrants [Member] USD ($) shares	Common stock [Member] Overnight marketed public offering [Member] USD ($) shares	Common stock [Member] Private placement [Member] USD ($) shares	Additional paid-in capital [Member] USD ($)	Additional paid-in capital [Member] Excercise of warrants [Member] USD ($)	Additional paid-in capital [Member] Overnight marketed public offering [Member] USD ($)	Deficit [Member] USD ($)	Accumulated other comprehensive income [Member] USD ($)	Non-controlling interest [Member] USD ($)
Balance at the beginning (in shares) at Dec. 31, 2021 | shares						14,242,595
Balance at the beginning at Dec. 31, 2021	$ 15,097,847					$ 62,250,123				$ 13,226,108			$ (58,790,870)	$ (1,509,978)	$ (77,536)
Overnight marketed public offering and redemption of warrants ( in shares) | shares		200,000					200,000	7,150,550
Overnight marketed public offering and redemption of warrants		$ 306,770	$ 10,636,577				$ 351,663	$ 8,401,439			$ (44,893)	$ 2,235,138
Share-based payments	1,433,812									1,433,812
Net loss for the year	(18,990,764)												(18,489,629)		(501,135)
Foreign Currency translation adjustment	(1,276,388)													(1,276,388)
Balance at the ending (in shares) at Dec. 31, 2022 | shares						21,593,145
Balance at the ending at Dec. 31, 2022	7,207,854					$ 71,003,225				16,850,165			(77,280,499)	(2,786,366)	(578,671)
Overnight marketed public offering and redemption of warrants ( in shares) | shares		2,385,484		3,183,875	3,183,875		2,385,484		3,282,936
Overnight marketed public offering and redemption of warrants		$ 5,241,811		$ 15,886,537	$ 20,836,005		$ 5,974,988		$ 15,886,537		$ (733,177)
Share-based payments	$ 1,412,257									1,412,257
Redemption of options (in shares) | shares	20,600					20,600
Redemption of options	$ 30,059					$ 48,835				(18,776)
Net loss for the year	(28,966,006)												(28,220,796)		(745,210)
Foreign Currency translation adjustment	79,814													79,814
Balance at the ending (in shares) at Dec. 31, 2023 | shares						27,282,165
Balance at the ending at Dec. 31, 2023	$ 892,326					$ 92,913,585				$ 17,510,469			$ (105,501,295)	$ (2,706,552)	$ (1,323,881)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (28,966,006)	$ (18,990,764)
Items not affecting cash
Accrued interest on convertible debt	571,603	643,233
Accrued interest on short term investments		(4,665)
Depreciation	155,527	147,894
Interest – lease liability	14,401	21,383
Loss on sale of equipment	4,846	6,879
Share-based payments	1,412,257	1,433,812
Change in fair value of financial instruments	836,595	1,056,165
Unrealized foreign exchange	(64,609)	(223,709)
Changes in operating assets and liabilities
Accounts payable and accrued liabilities	577,908	1,324,049
Prepaid expenses	(122,435)	(39,959)
Amounts receivable	(103,710)	230,481
Auritec payable	5,000,000
Cash used in operating activities	(20,683,623)	(14,395,201)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of equipment	(73,377)	(235,550)
Proceeds from sale of equipment		242
Purchase of short term investments		(3,272,379)
Proceeds from redemption of short-term investments		13,342,058
Cash provided by (used in) investing activities	(73,377)	9,834,371
CASH FLOWS FROM FINANCING ACTIVITIES
Overnight marketed public offering (net of transaction costs)	15,886,537	10,636,577
Redemption of warrants	5,241,811	306,770
Redemption of options	30,059
Repayment of loans	(79,441)	(74,845)
Lease payments	(64,996)	(67,423)
Cash provided by financing activities	21,013,970	10,801,079
Increase in cash and cash equivalents	256,970	6,240,249
Foreign exchange effect on cash and cash equivalents	821,397	(507,395)
Cash and cash equivalents, beginning of year	18,263,389	12,530,535
Cash and cash equivalents, end of year	$ 19,341,756	$ 18,263,389

Nature of Business and Going Co

Nature of Business and Going Concern	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Going Concern	1. NATURE OF BUSINESS AND GOING CONCERN Eupraxia Pharmaceuticals Inc. (the “Company”) was incorporated under the laws of the province of Alberta on May 12, 2011, under the name Plaza Capital Partners Inc. On May 11, 2012, the Company changed its name to Eupraxia Pharmaceuticals Inc. and continued from the province of Alberta to the province of British Columbia. On October 10, 2012, Eupraxia Holdings, Inc. (“Holdings”) was incorporated under the laws of the State of Delaware, USA. On November 16, 2012, Holdings was registered as an extra-provincial corporation under the laws of the province of British Columbia, Canada. On October 10, 2012, Eupraxia Pharmaceuticals USA, LLC (“Eupraxia USA”) was incorporated under the laws of the State of Delaware. On November 16, 2012, Eupraxia USA was registered as an extra-provincial corporation under the laws of the province of British Columbia. On January 7, 2021, Eupraxia Pharma, Inc. (“Eupraxia Pharma”) was incorporated under the laws of the State of Delaware. On July 4, 2022, Eupraxia Pharmaceuticals Australia Pty Ltd. (“Eupraxia Australia”) was incorporated under the laws of the state of Victoria, Australia. On May 17, 2023, Eupraxia Pharma USA Inc. (“Eupraxia Pharma USA”) was incorporated under the laws of the State of Delaware. On March 9, 2021, the Company completed its initial public offering on the Toronto Stock Exchange (“TSX”) and began trading under the symbol “EPRX”. The Company is a clinical stage biotechnology company leveraging its proprietary Diffusphere ™ These consolidated financial statements have been prepared on a going concern basis with the assumption that the Company will be able to realize its assets and discharge its liabilities and commitments in the normal course of business. At December 31, 2023, the Company had cash and cash equivalents of $19,341,756 . The non-brokered 2023 (2022 - $11,768,459 through a marketed public offering) and raised $25,026,073 (CDN$33,867,784) through an overnight marketed public offering of 8,260,435 common shares in 2024 11 The continued operations of the Company are dependent on its ability to generate future cash flows or obtain additional funding. There is a risk that in the future, additional financing will not be available on a timely basis or on terms acceptable to the Company. These events and conditions may cast substantial doubt about the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments to the amounts and classification of assets and liabilities that might be necessary should the Company be unable to continue in business.

Basis of Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	2. BASIS OF PRESENTATION These consolidated financial statements are presented in U.S. dollars and have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”). These consolidated financial statements include the accounts of the Company and the accounts of its subsidiaries. All significant intercompany transactions and balances have been eliminated upon consolidation. Change in Reporting Currency to the US Dollar Effective December 31, 2023, the Company changed its reporting currency to the US dollar (“USD”) from the Canadian dollar (“CDN”). As such, all prior amounts originally reported in CDN are now reported in USD. The change in reporting currency was made to enhance comparability of the Company’s results with other publicly traded companies in the life sciences industry. The Canadian dollar continues to be the functional currency of the Company. In accordance with ASC 830, the consolidated financial statements of the Company are translated into U.S. dollars using the current rate method. Assets and liabilities are translated at the rate of exchange prevailing at the consolidated balance sheet date. Shareholders’ equity is translated at the applicable historical rate. Revenue, expense and cash flow items are translated at the exchange rate in effect on the transaction dates. Translation gains and losses are reported as a separate component of shareholders’ equity titled Accumulated Other Comprehensive Income. The financial information for all prior periods is presented in U.S. dollars as if the U.S. dollar had been used as the reporting currency during those periods. Transition to US GAAP This is the first year that the Company’s consolidated financial statements are prepared in accordance of generally accepted accounting principles in the United States of America (“GAAP” “FASB” The policies set out in the Significant Accounting Policies section have been applied in preparing the financial statements for the years ended December 31, 2023 and 2022. In addition, comparative figures, which were previously prepared in accordance with IFRS, have been adjusted as required to be compliant with the Company’s accounting policies under US GAAP.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Measurement The consolidated financial statements have been prepared on a historical cost basis, except for certain financial instruments which are measured at fair value. The consolidated financial statements are presented in U.S. dollars, which is the Company’s reporting currency. The Company’s functional currency is the Canadian dollar. The preparation of consolidated financial statements in accordance with U.S. GAAP requires the Company to make estimates and judgments in certain circumstances that affect the reported amounts of assets, liabilities, expenses, and related disclosure. On an ongoing basis, the Company evaluates its estimates, most notably those related to accrual of expenses including clinical and preclinical study expense accruals, stock-based compensation, valuation allowance for deferred taxes, and fair value measurement of convertible debt. Management bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances. Actual results could differ from these estimates. Consolidation These consolidated financial statements include the accounts of the Company and the accounts of its subsidiaries. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Control exists when an entity is exposed to or has rights to variable returns from its involvement with the entity and has the ability to affect these returns through its power over the entity. All significant intercompany transactions and balances have been eliminated. Non-controlling Non-controlling non-controlling non-controlling Company Entity Date of Incorporation Jurisdiction of Effective Eupraxia Holdings, Inc. October 10, 2012 Delaware, USA 95 % Eupraxia Pharmaceuticals USA, LLC October 10, 2012 Delaware, USA 95 % AMDM Holdings Inc. (2) April 6, 2016 Washington, USA 95 % Eupraxia Pharma, Inc. January 7, 2021 Delaware, USA 95 % Eupraxia Pharmaceuticals Australia Pty Ltd. July 4, 2022 Victoria, Australia 100 % (1) Eupraxia Pharma USA Inc. May 17, 2023 Delaware, USA 100 % (1) (1) Wholly-owned subsidiary of Eupraxia Pharmaceuticals Inc. (2) Date of Control occurred on January 31, 2021 (see Note 13(e)). Earnings (Loss) per Share The Company applies the “Treasury Stock Method” to calculate loss per common share. Under this method, the basic earnings (loss) per share is calculated based on the weighted average aggregate number of common shares outstanding during each period. The diluted earnings (loss) per share assumes that the outstanding stock options and share purchase warrants had been exercised at the beginning of the period, or date of issuance if issued during the period, and proceeds from dilutive instruments are used to purchase common shares at the average market price during the period. Since the Company was in a loss position for the years ended December 31, 2023 and 2022, the assumed conversion of outstanding common share warrants, options, and convertible instruments has an anti-dilutive impact, therefore the diluted loss per share is equal to basic loss per share. Equipment Equipment is recorded at historical cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided over the estimated useful lives of the assets as follows: Computers 45% declining balance Office furniture and equipment 20% declining balance Leasehold improvements straight-line over the shorter of the initial term of the lease or useful life Lab equipment 20% declining balance The useful lives and depreciation methods applied to each category of equipment are assessed on an annual basis by management and adjusted where necessary to reflect the recoverability of equipment. Research and Development Expenditures Research and development costs are expensed as they are incurred. These costs consist primarily of salaries and wages related to research and development activities, including share-based payments for employees engaged in research and development, clinical trial expenses and other research costs. Investment Tax Credits Investment tax credits (“ITCs”) arising from research and development activities are deducted from the related costs and are included in profit or loss when there is reasonable assurance that the credits will be realized. ITCs arising from the acquisition or development of equipment and capitalized development costs are deducted from the cost of those assets with amortization calculated on the net amount. Government Grants Government grants related to research and development activities are recognized in profit or loss as a deduction from the related expenditure when there is reasonable assurance that the grant will be received. Grants that compensate the Company for the cost of an asset are recognized in profit or loss on a systematic basis over the useful life of the asset. Government Assistance Government contributions are recognized and deducted from the related costs when there is reasonable assurance that the contribution will be received and all attached conditions have been complied with by the Company. Government contributions arising from the acquisition or development of equipment and capitalized development costs are deducted from the cost of those assets with amortization calculated on the net amount. Income Taxes Current income tax is the expected tax payable or recoverable on the taxable profit or loss for the year using tax rates enacted at the reporting date and any adjustment to tax payable from previous years. Deferred tax is recorded using the asset and liability method, providing for temporary differences, between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Temporary differences are not provided for if they relate to goodwill not deductible for tax purposes, or differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates and laws enacted at the reporting date and expected to apply when these differences reverse. A deferred tax asset is recognized only to the extent that it is more likely than not that future taxable profits will be available against which the asset can be utilized. The Company uses a two-step process to recognize and measure the income tax benefit of uncertain tax positions taken or expected to be taken in a tax return. The tax benefit from an uncertain tax position is recognized if it more likely than not that the position will be sustained upon examination of the tax authority based solely on the technical merits of the position. A tax benefit that meets the more likely than not recognition threshold is measured as the largest amount that is greater than 50% likely to realized upon settlement with the tax authority. To the extent a full benefit is not expected to be realized, an income tax liability is established. Any change in judgement related to the expected resolution of an uncertain tax provision is recognized in the year of such a change. Interest an penalties related to income tax are included as a component of income tax expense. Share-based Payments The Company grants stock options to employees, directors and officers pursuant to stock option plans described in note 13c. Employee stock-based compensation expense is measured at the grant date, based on the estimated fair value of the award, and is recognized as an expense, net of actual forfeitures, over the requisite service period with a corresponding increase in additional paid-in capital. Stock-based compensation expense is amortized on a straight-line basis over the requisite service period for the entire award, which is generally the vesting period of the award. Any consideration received on exercise of stock options is credited to share capital. Share Capital and Warrants The Company records proceeds from share issuances net of issue costs and any related tax effects. Common shares issued for consideration other than cash are valued based on their market value at the date the agreement to issue shares was concluded. When units are issued during a private placement, which include both common shares and share purchase warrants, the warrants are classified as equity and as such, the proceeds should be allocated based on the relative fair values of the base instrument and the warrants on the day of the announcement of the private placement. Any value of the warrants is allocated to the warrants and credited to additional paid-in Foreign Currency Translation The functional currency for each of the Company and the Company’s subsidiaries is the currency of the primary economic environment in which each entity operates. Determination of functional currency may involve certain judgments to determine the primary economic environment. The Company reconsiders the functional currency of its entities if there is a change in events and conditions which determine the primary economic environment. The functional currency of Eupraxia Pharmaceuticals Inc., the parent entity, and each of the Company’s subsidiaries is the Canadian dollar. Transactions in foreign currencies are translated to the functional currency of the entity at the exchange rate at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated at the period end date exchange rates. Non-monetary Non-monetary re-translated re-translation The reporting currency of the Company’s consolidated financial statements is the U.S. dollar. All assets and liabilities are translated from the functional currency to the reporting currency using the spot rate at the period end date, equity components are translated at the historical rate, and income and expenses are translated using the average exchange rate for the period. All foreign currency differences arising on translation from functional to reporting currency are included in accumulated other comprehensive income. Impairment of Long-Lived Assets The Company assesses the recoverability of its long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the long-lived asset is measured by a comparison of the carrying amount of the asset to future undiscounted net cash flows expected to be generated by the asset or group of assets. If carrying value exceeds the sum of undiscounted cash flows, the Company then determines the fair value of the underlying asset. Any impairment to be recognized is measured by the amount by which the carrying amount of the asset group exceeds the estimated fair value of the asset or asset group. As of December 31, 2023 and 2022, the Company determined that there were no indicators of impairment of long-lived assets. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, bank deposits, and highly liquid investments with original maturities of three months or less from the date of purchase that are readily convertible to known amounts of cash and subject to insignificant risk of changes in value. Cash equivalents are recorded at cost plus accrued interest. Short Term Investments Short term investments include highly liquid investments with original maturity dates greater than three months and less than one year and cannot be redeemed prior to maturity without incurring a penalty. Financial Instruments and Fair Value The Company measures certain financial instruments and other items at fair value into a three-level hierarchy established by US GAAP that prioritizes those inputs to valuation techniques used to measure fair value on the degree to which they are observable. This hierarchy includes: i. Level 1 – Unadjusted quoted prices in active markets for identical instruments. ii. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the financial instrument, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means. iii. Inputs are unobservable and reflect the Company’s assumptions as to what market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available. Assets and liabilities are classified on the lowest level of input that is significant to the fair value measurements. Reclassification of the level may be a result of changes in the observability of the valuation inputs for certain instruments within the fair value hierarchy. The carrying value of accounts receivable, accounts payable, and accrued expense approximate fair value due to the short-term nature of these instruments. On a recurring basis, the Company’s cash and cash equivalents and marketable securities are measured at fair value. Leases Leases classified as operating leases are recorded as lease liabilities based on the present value of minimum lease payments over the lease term, discounted using the lessor’s rate implicit in the lease or the Company’s incremental borrowing rate, if the lessor’s implicit rate is not readily determinable. The lease term includes all periods covered by renewal and termination options where the Company is reasonably certain to exercise the renewal options or not to exercise the termination options. Corresponding right-of-use right-of-use right-of-use Upcoming Accounting Standards and Interpretations The Company has not yet adopted certain new standards, amendments and interpretations to existing standards, which have been published but are only effective for accounting periods beginning on or after January 1, 2024 or later periods. The new and amended standards are not expected to have a material impact on the Company’s consolidated financial statements.

Amounts Receivable

Amounts Receivable	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Amounts Receivable	4. AMOUNTS RECEIVABLE December 31, December 31, 2023 2022 Government grants (Note 14) $ —  $ 13,892 GST/HST recoverable 85,879 38,658 Other refundable tax credits (1) 104,733 37,165 Total $ 190,612 $ 89,715 (1) Other refundable tax credits are due to tax incentives for R&D costs incurred by Eupraxia Australia (Note 14 – Research and Development Expenses).

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	5. PROPERTY AND EQUIPMENT Property and equipment consisted of the following: Computers Office Leasehold Lab Total Cost As at January 1, 2022 $ 101,754 $ 73,267 $ 134,333 $ 289,569 $ 598,923 Additions 20,279 5,551 —  209,720 235,550 Disposals (47,603 ) (8,158 ) —  —  (55,761 ) Foreign currency adjustments (3,852 ) (4,261 ) (8,589 ) (25,736 ) (42,438 ) As at December 31, 2022 70,578 66,399 125,744 473,553 736,274 Additions 18,534 —  —  54,843 73,377 Disposals (5,488 ) —  —  (16,124 ) (21,612 ) Foreign currency adjustments 2,001 1,597 3,023 12,992 19,613 As at December 31, 2023 85,625 67,996 128,767 525,264 807,652 Accumulated Depreciation As at January 1, 2022 71,187 46,965 91,345 38,631 248,128 Depreciation 17,153 5,256 14,366 73,328 110,103 Disposals (43,540 ) (5,342 ) —  —  (48,882 ) Foreign currency adjustments (2,295 ) (2,853 ) (6,410 ) (4,981 ) (16,539 ) As at December 31, 2022 42,505 44,026 99,301 106,978 292,810 Depreciation 17,612 4,492 13,849 76,930 112,883 Disposals (5,162 ) —  —  (11,604 ) (16,766 ) Foreign currency adjustments 1,226 1,149 2,666 4,097 9,138 As at December 31, 2023 56,181 49,667 115,816 176,401 398,065 Net Book Value As at December 31, 2022 28,073 22,373 26,443 366,575 443,464 As at December 31, 2023 $ 29,444 $ 18,329 $ 12,951 $ 348,863 $ 409,587 During the year ended December , and , depreciation expense of $ and $ , respectively, was recognized with $ included in general and administrative and $ included in research and development ($ and $ for general and administrative, and research and development in , respectively).

Right-of-Use Asset

Right-of-Use Asset	12 Months Ended
	Dec. 31, 2023
Right of Use Asset [Abstract]
Right-of-Use Asset	6. RIGHT-OF-USE The following table presents details of movement in the carrying value of the right-of-use December 31, December 31, Balance, beginning $ 87,286 $ 132,020 Depreciation (42,644 ) (37,791 ) Foreign Exchange 2,018 (6,943 ) Balance, ending $ 46,660 $ 87,286 During the year ended December 31, 2023 and 2022, depreciation expense of $42,644 and $37,791, respectively, was recognized with $15,740 included in general and administrative and $26,904 included in research and development ($13,877 and $23,914 for general and administrative, and research and development in 2022, respectively).

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	12 Months Ended
	Dec. 31, 2023
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accounts Payable and Accrued Liabilities	7. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES December 31, 2023 December 31, 2022 Research and development $ 1,968,263 $ 2,137,336 General and administrative 1,040,204 261,933 Wages and payroll remittances 18,357 15,996 Employee bonus payable (1) 858,628 513,301 Taxes payable 36,423 —  Total $ 3,921,875 $ 2,928,566 (1) Bonus relates to corporate bonuses for the years ended December 31, 2023 and 2022.

Loans Payable

Loans Payable	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Loans Payable	8. LOANS PAYABLE On September 10, 2021, the Company entered into a Master Loan and Security Agreement (“Loan Agreement”) whereby the Company borrowed $235,000 to purchase production and test equipment (see Note 5 The Loan Agreement has a term of 36 months commencing September 13, 2021. The Loan Agreement accrues interest at 5.84% per annum with monthly payments (principal and interest) being made on the 1 st Below is a breakdown of loan balance as at December 31, 2023 and December 31, 2022: December 31, December 31, Balance, beginning $ 142,127 $ 216,994 Loan repayment (79,441 ) (74,845 ) Foreign exchange adjustment 23 (22 ) Balance, ending $ 62,709 $ 142,127 Current portion $ 62,709 $ 79,418 Non-current $ —  $ 62,709

Lease Liability

Lease Liability	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Lease Liability	9. LEASE LIABILITY The Company entered into an operating lease agreement for its Victoria, BC facility (of approximately 4,900 square feet of office space) which expires on November 30, 2024. The cost components of the operating lease were as follows for the years ended December 31, 2023 and 2022: December 31, December 31, 2023 2022 Lease Cost Operating lease expense $ 64,996 $ 67,423 Variable lease expense 68,584 66,455 Lease term and Discount Rate Weighted average remaining lease term (years) 0.92 1.92 Weighted average discount rate 14 % 14 % Variable lease costs are payments that vary because of changes in facts or circumstances and include common area maintenance and property taxes related to the premises. Variable lease costs are excluded from the calculation of minimum lease payments. The Company’s future minimum lease payments as of December 31, 2023 are as follows: Year ending December 31: 2024 60,780 Total undiscounted future minimum lease payments $ 60,780 Less: balance of unused tenant allowance —  Less: imputed interest (7,464 ) Present value of lease liabilities at December 31, 2023 $ 53,316 The lease liability balance is comprised as follows: December 31, December 31, Current portion $ 53,316 $ 50,403 Non-current —  51,303 $ 53,316 $ 101,706 During the year ended December 31, 202 3

Auritec License Agreement

Auritec License Agreement	12 Months Ended
	Dec. 31, 2023
License Agreement [Abstract]
Auritec License Agreement	10. AURITEC LICENSE AGREEMENT Eupraxia USA entered into an amended and restated license agreement with Auritec Pharmaceuticals Inc. (“Auritec”) on October 9, 2018 (as further amended, the “Amended and Restated License Agreement”). Under the terms of the Amended and Restated License Agreement, Auritec has granted Eupraxia USA an exclusive license (including the right to sublicense to its affiliates and third parties) under the licensed patents owned or controlled by Auritec and for all the technical information and know-how sub-license, Pursuant to the terms of the Amended and Restated License Agreement, Eupraxia USA has paid $5,000,000 to Auritec (the “Upfront Fee”). In addition, Eupraxia USA has agreed to pay Auritec up to $30,000,000 upon achievement of certain regulatory and commercial milestones related to products licensed under the Amended and Restated License Agreement (“Licensed Products”) as well as a royalty of 4% of net sales of Licensed Products by Eupraxia USA or its affiliates, subject to certain reductions. The following table summarizes the milestone payment schedule. As of December 31, 2023, the only milestone that has been accrued and provided for in the financial statements is $5,000,000 related to the successful completion of the Phase 2b clinical study. It was recorded under research and development (see Note 14 – Research and Development Expenses). Milestone Event Milestone Successful Completion of a Phase 2b Study 5,000,000 First OA Regulatory Approval 5,000,000 Second OA Regulatory Approval 5,000,000 Non-OA 10,000,000 First calendar year in which aggregate Net Sales by Eupraxia USA, its affiliates and sublicenses exceed $500,000,000 5,000,000 Maximum milestones payable $ 30,000,000 Eupraxia USA also agreed to pay to Auritec 20% of sublicensing royalties or other consideration based on net sales of Licensed Products. Eupraxia USA further agreed to pay Auritec a percentage of Non-Royalty Monetization Revenue (as defined in the Amended and Restated License Agreement), which includes payments received for a sale of Eupraxia USA or its assets or sale or sublicense of a Licensed Product, which percentage ranges from $ Non-Royalty Date of Execution Percentage of Non-Royalty Prior to Successful Completion of a Phase 2b Study 30 % After Successful Completion of a Phase 2b Study but prior to Successful Completion of a Phase 3 Study 20 % After Successful Completion of a Phase 3 Study but prior to Regulatory Approval of a Product in the Eupraxia Field from FDA in the United States 15 % After Regulatory Approval of a Product in the Eupraxia Field from FDA in the United States 10 % Either party may terminate the Amended and Restated License Agreement in the event of the other party’s bankruptcy, liquidation, or dissolution. Auritec may also terminate upon a material breach of the Amended and Restated License Agreement by Eupraxia USA that is not cured within 60 days 15 days

Convertible Debt

Convertible Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Convertible Debt	11. CONVERTIBLE DEBT On June 21, 2021, the Company entered into a contingent convertible debt agreement (the “Debt Agreement”) with Silicon Valley Bank (“SVB”) and concurrently drew down, in full, the CDN$10,000,000 principal amount under the Debt Agreement. The Debt Agreement has a term of 36 months (or 48 months at SVB’s election). The Debt Agreement accrues interest at the greater of 2.45% and the Canadian prime rate, requiring monthly interest payments. An additional payment in kind will accrue at a rate of 7% per annum, which will be settled at maturity or on conversion. During the year ended December 31, 2022, the Canadian prime rate ranged from 2.45% - 6.45%. During the year ended December 31, 2023, the Canadian prime rate ranged from 6.45% - 7.20%. Subject to the terms and conditions of the Debt Agreement, SVB may elect to convert the principal amount of the convertible debt and the accrued and unpaid interest thereon into common shares at a conversion price equal to CDN$5.68 per common share. The conversion price of the accrued and unpaid interest will be subject to the minimum pricing requirements of the TSX, to the extent applicable, at the time of conversion. The Company will have the right (the “Call Right”) to call the convertible debt by paying to SVB an amount equal to: i. 125% of the principal amount of the convertible debt (less principal amounts previously repaid), if the Call Right is exercised on or before the 18 month anniversary of the date of the Debt Agreement; and ii. 150% of the principal amount of the convertible debt (less principal amounts previously repaid), if the Call Right is exercised after the 18 month anniversary of the date of the Debt Agreement, in either case together with all accrued and unpaid interest on the principal balance of the convertible debt. If the Call Right is exercised by the Company, SVB will retain certain lookback rights in the event the Company subsequently announces its topline data from its Phase 2 clinical study or the Company enters into an agreement to be acquired in the 12 months following the exercise of the Call Right. The Company has agreed to grant SVB a security interest in all of its assets, excluding its patents and other intellectual property, and the testing and product equipment by way of the loan agreement it entered into on September 10, 2021 (Note 8 – Loans Payable) as security for its obligations under the Debt Agreement. The Company was required, on or prior to June 30, 2022, to raise additional net new capital, as defined in the Debt Agreement, in the aggregate amount of CDN$10,000,000. During the year ended December 31, 2022, the Company completed a CDN$14.7 million financing which satisfied the net new capital requirement of the Debt Agreement (see Note 12 apital) The loan balance is comprised of the following: Balance – December 31, 2021 $ 7,507,755 Accrued interest 958,669 Interest paid (315,436 ) Change in fair value 1,056,165 Foreign exchange (465,157 ) Balance – December 31, 2022 $ 8,741,996 Accrued interest 1,162,773 Interest paid (591,170 ) Change in fair value 836,595 Foreign exchange 185,809 Balance – December 31, 2023 $ 10,336,003

Share Capital and Other Compone

Share Capital and Other Components of Equity	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Share Capital and Other Components of Equity	12. SHARE CAPITAL AND OTHER COMPONENTS OF EQUITY a) Authorized • An unlimited • An unlimited b) Issued Capital transactions which took place during the year ended December 31, 2022 are as follows: i) On April 20, 2022, the Company announced that it had closed an overnight marketed public offering (the “Offering”). Pursuant to the Offering, Eupraxia issued 7,150,550 units at a price of CDN$2.05 per unit and 181,000 warrants at a price of CDN$0.30 per warrant for aggregate gross proceeds of $11,768,459 ($9,309,707 related to the value of the and related to the value of the Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at an exercise price of CDN$3.00 per common share for a period of 48 months, expiring on April 20, 2026. As consideration for the services rendered by the Underwriters in connection with the Offering, the Company paid the Underwriters a cash commission of $823,792 ($660,605 for the and for the for the and for the for the and for the ii) During the year ended December 31, 2022, 200,000 common shares were issued on the exercise of warrants for gross proceeds of $306,770. The weighted average share price during the period in which these warrants were exercised was CDN$4.18. On exercise, $44,893 was transferred from additional paid-in Capital transactions which took place during the year ended December 31, 2023, are as follows: iii) During the year ended December 31, 2023, 2,385,484 common shares were issued on the exercise of warrants for gross proceeds of $5,241,811. The weighted average share price during the period in which these warrants were exercised was CDN$7.15. On exercise, $733,177 was transferred from additional paid-in iv) During the year ended December 31, 2023, 20,600 common shares were issued on the exercise of options for gross proceeds of $30,059. The weighted average share price during the period in which these options were exercised was CDN$2.00. On exercise, $18,776 was transferred from additional paid-in v) On August 18, 2023, the Company closed a non-brokered common shares as finder’s fees which were valued at $511,681. c) Options Under the Amended Stock Option Plan (the “Amended Plan”), approved by the Board of Directors on October 27, 2021, and ratified by Shareholders on December 3, 2021, the Board of Directors may grant stock options to directors, officers, employees and consultants of the Company up to an aggregate of % of the Company’s then issued and outstanding common shares. Options granted under the Amended Plan have lives of up to from the date of grant. The vesting schedule of all granted options is determined at the discretion of the Board. Unless otherwise determined by the Board, in its sole discretion, all grants of options will vest over a period, with the first twenty-five percent ( %) of the Options vesting on the date of grant, and the remaining o ptions thirty-six-month period in three equal instalments on an annual basis. The following table summarizes the Company’s option transactions: Number of options Weighted average Outstanding, December 31, 2021 2,134,250 $ 7.83 Granted 1,172,200 3.16 Outstanding, December 31, 2022 3,306,450 6.18 Exercised (20,600 ) 2.00 Cancelled (24,800 ) 3.73 Granted 257,200 6.91 Outstanding, December 31, 2023 3,518,250 $ 6.27 Grant Date Options Options Exercise Price (CDN$) Expiry Date Remaining Contractual Sep 27, 2015 186,250 186,250 $ 8.00 (3) Mar 31, 2025 1.25 Nov 2, 2015 95,000 95,000 $ 8.00 (3) Nov 2, 2025 1.85 Mar 5, 2018 452,250 452,250 $ 8.00 (3) Mar 5, 2028 4.18 Mar 9, 2021 756,950 567,713 $ 8.00 Mar 9, 2031 7.20 Mar 9, 2021 326,800 326,800 $ 8.00 Mar 9, 2031 7.20 May 3, 2021 257,000 192,750 $ 8.00 May 3, 2031 7.35 Dec 9, 2021 60,000 57,500 $ 2.02 Dec 9, 2031 7.95 Mar 31, 2022 392,500 186,750 $ 1.90 Mar 31, 2032 8.26 Dec 9, 2022 734,300 407,983 $ 3.85 Dec 9, 2032 8.95 May 18, 2023 180,000 45,000 $ 6.84 May 18, 2033 9.39 May 30, 2023 17,200 4,300 $ 6.75 May 30, 2033 9.42 Sep 27, 2023 60,000 15,000 $ 7.16 Sep 27, 2033 9.75 3,518,250 2,537,296 $ 6.27 7.02 The share-based compensation expense was determined based on the fai December 31, December 31, Options granted during the year ended 2023 2022 Expected dividend yield 0.00 % 0.00 % Expected forfeiture rate 0.00 % 0.00 % Weighted average annual volatility 79.60 % 78.66 % Weighted average risk-free interest rate 3.54 % 2.80 % Weighted average expected option life 5.75 years 5.70 years Weighted average share price (CDN$) $ 6.91 $ 3.16 Weighted average exercise price (CDN$) $ 6.91 $ 3.16 Weighted average fair value of options granted (CDN$) $ 4.78 $ 2.17 Share-based payments for the year ended December 31, 2023, was $1,412,257 (2022 - $1,433,812) (See Note 13 14 As of December 31, 2023, the unrecognized stock-based compensation expense related to the non-vested d) Warrants The following table summarizes the Company’s warrant transactions: Number of warrants Weighted average exercise price (CDN$) Outstanding December 31, 2021 4,161,898 $ 8.81 Issued 7,832,088 2.94 Expired (289,172 ) 8.00 Exercised (200,000 ) 2.05 Outstanding December 31, 2022 11,504,814 $ 4.95 Exercised (2,385,484 ) 2.90 Outstanding December 31, 2023 9,119,330 $ 5.49 As at December 31, 2023, the following warrants were out standing: Expiry date Exercise price Remaining Warrants 120 days after holder to be a Director/ Officer or consultant $ 0.7572 N/A 243,421 120 days after former spouse ceases to be a Director/ Officer or consultant 0.7572 N/A 137,500 120 days after holder ceases to be a Director/ Officer or consultant (1) 0.4984 N/A 315,500 January 4, 2024 5.5993 0.01 239,080 January 4, 2024 7.1991 0.01 39,846 January 8, 2024 5.5993 0.02 31,877 March 9, 2026 11.20 2.19 2,826,274 April 20, 2026 3.00 2.30 5,196,550 April 20, 2026 2.05 2.30 50,054 April 29, 2026 11.20 2.33 39,228 $ 5.49 9,119,330 (1) Represents unit purchase to acquire 315,500 0.75 e) Class B Non-Voting On January 31, 2021, the Company entered into a contribution agreement with the Chief Scientific Officer of the Company, and certain of the Company’s subsidiaries (the “Contribution Agreement”). Pursuant to the Contribution Agreement, the Company acquired AMDM Holdings Inc., a corporation wholly-owned by the Chief Scientific Officer, which held 5% of the equity interest in the Company’s subsidiary, Eupraxia USA. In exchange, the Company issued to the Chief Scientific Officer 225 non-voting Each Class B Share is exchangeable into common shares of the Company based on an exchange rate of 2,500 common shares for each Class B Share, subject to adjustments upon the occurrence of certain events, for a total of 562,500 common shares. The Class B Shares are exchangeable by the Chief Scientific Officer at her election, provided that the Company may force the exchange of the Class B Shares into common shares of the Company at any time on or after January 31, 2031, or on or after January 31, 2026, if the Company is listed on a stock exchange and is a reporting issuer in Canada at such time. The Company may also force the exchange of the Class B Shares into common shares if there is a change of control transaction involving the Company, a change in law which makes the exchange necessary or desirable or if there are a de minimis

General And Administrative Expe

General And Administrative Expenses	12 Months Ended
	Dec. 31, 2023
General And Administrative Expenses [Abstract]
General And Administrative Expenses	13. GENERAL AND ADMINISTRATIVE EXPENSES General and administrative expenses are comprised of the following: December 31, December 31, 2023 2022 Office expenses $ 389,210 $ 332,951 Insurance 367,472 357,763 Travel 345,992 120,115 Professional fees 2,821,798 268,698 Public company costs 404,073 214,264 Salaries and benefits 2,241,079 1,641,049 Share based payments (Note 12(c)) 714,380 1,052,758 Total expenses during the period $ 7,284,004 $ 3,987,598

Research And Development Expens

Research And Development Expenses	12 Months Ended
	Dec. 31, 2023
Research and Development Expense [Abstract]
Research And Development Expenses	14. RESEARCH AND DEVELOPMENT EXPENSES Research and development expenses are comprised of the following: December 31, 2023 December 31, 2022 Preclinical $ 1,616,238 $ 1,073,668 Clinical 4,595,597 7,179,535 Manufacturing & analytical 4,986,502 2,177,070 Regulatory 341,589 588,652 Consulting —  660 Direct research and development 11,539,926 11,019,585 Pipeline development 83,637 227,615 Other research and development 672,295 424,628 Salaries and benefits 2,794,891 1,901,257 Share based payments (Note 12(c)) 697,877 381,054 License costs (Note 10) 5,000,000 —  Government grants (Note 15) (122,542 ) (288,515 ) SR&ED and other R&D tax incentives (102,859 ) (35,770 ) Total expenses during the period $ 20,563,225 $ 13,629,854

Government Grants And Assistanc

Government Grants And Assistance	12 Months Ended
	Dec. 31, 2023
Government Assistance [Abstract]
Government Grants And Assistance	15. GOVERNMENT GRANTS AND ASSISTANCE National Research Council – Industrial Research Assistance Program (“NRC-IRAP”) On October 1, 2021, the Company entered into an agreement with NRC-IRAP NRC-IRAP At December 31, 2023 there was $nil (2022 - $13,892) of government grants recorded in amounts receivable (Note 4 The following table summarizes the government grants and assistance the Company received or accrued during the years ended December 31, 2023 and 2022: 2023 2022 NRC-IRAP $ 122,542 $ 277,117 BioTalent Canada —  11,398 Total $ 122,542 $ 288,515 Government assistance of $122,542 (2022 - $288,515) relating to research and development activities has been offset against research and development expense.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	16. INCOME TAXES For financial reporting purposes, loss before taxes includes the following components: Year ended December 31, 2023 2022 Canadian $ (28,810,717 ) $ (18,925,281 ) Foreign (118,866 ) (65,483 ) Total $ (28,929,583 ) $ (18,990,764 ) The income tax expense consists of the following: Year ended December 31, 2023 2022 Canadian Current $ —  $ —  Deferred $ —  $ —  $ —  $ —  Foreign Current $ 36,423 $ —  Deferred $ —  $ —  $ 36,423 $ —  Total Current $ 36,423 $ —  Deferred $ —  $ —  $ 36,423 $ —  Year ended December 31, 2023 2022 Loss before taxes $ (28,929,583 ) $ (18,990,764 ) Statutory Canadian corporate tax rate 27 % 27 % Expected tax recovery at statutory rates (7,810,987 ) (5,127,506 ) Change in unrecognized deferred tax assets 9,523,404 5,127,732 Non-deductible share-based payments 381,285 414,724 Other items not deductible for tax purposes and other 242,460 11,570 Adjustments related to prior years (624,973 ) (257,636 ) Share issue costs (290,289 ) (322,131 ) Foreign exchange arising on translation to reporting currency (1,384,477 ) 153,247 Income tax expense $ 36,423 $ —  Income tax expense for the year ended December 31, 2023 arose from the operations of Eupraxia Pharma USA Inc., the Company’s wholly-owned subsidiary in the United States. Deferred income tax assets and liabilities result from the temporary differences between the amount of assets and liabilities recognized for financial statement and income tax purposes. The significant components of the Company’s net deferred income tax assets are as follows: December 31, December 31, Convertible debt $ 733,756 $ 360,307 Depreciable assets 3,092,163 1,655,346 Lease obligation 4,925 8,122 Non-capital 18,348,349 12,776,875 Share issue costs 728,046 694,773 Scientific research and experimental development pool 2,093,085 852,776 Tax credits 1,546,834 797,401 Other 121,846 —  Less: valuation allowance (26,669,004 ) (17,145,600 ) Net deferred income tax assets $ — $ — In assessing the realizability of the Company’s deferred income tax assets, Management considers whether it is more likely than not that some portion or all of the deferred tax assets will not b realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during periods in which temporary differences become deductible and the loss carry-forwards or tax credits can be utilized. A full valuation allowance continues to be applied against deferred income tax assets as the Company has assessed that the realization of such assets does not meet the more likely than not criteria. There are no unrecognized income tax benefits as of December 31, 2023, or 2022. Due to the net operating loss carryover position coupled with the lack of any unrecognized tax benefits, no provision has been made for any interest or penalties associated with any uncertain tax positions. It is not anticipated that there will be any significant changes to unrecognized tax benefits within the next 12 months. In assessing the realizability of the Company’s deferred income tax assets, Management considers whether it is more likely than not that some portion or all of the deferred tax assets will not b realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during periods in which temporary differences become deductible and the loss carry-forwards or tax credits can be utilized. A full valuation allowance continues to be applied against deferred income tax assets as the Company has assessed that the realization of such assets does not meet the more likely than not criteria. There are no unrecognized income tax benefits as of December 31, 2023, or 2022. Due to the net operating loss carryover position coupled wit The Company and its foreign subsidiaries have available non-capital losses for Canadian, Australian and US income tax purposes which may be carried forward to reduce taxable income in future years. If not utilized, the non-capital losses in each jurisdiction will expire as follows (all amounts expressed in USD): Expiry date Non-capital losses– Non-capital losses– US Non-capital losses– Australia 2031 $ 281,235 $ —  $ —  2032 575,606 322,050 —  2033 2,481,600 1,111,122 —  2034 2,935,535 160,000 —  2035 2,466,288 160,000 —  2036 3,797,516 160,048 —  2 7,294,414 160,000 —  2038 3,060,930 —  —  2039 1,666,415 —  —  2040 144,413 —  —  2041 6,404,809 —  —  2042 13,526,387 —  —  2043 17,642,270 —  Unlimited —  1,479,139 69,093 $ 62,277,418 $ 3,552,359 $ 69,093 The Company also has approximately $ of SR&ED expenditures that may be carried forward indefinitely to be deducted against future Canadian taxable income. It also has federal investment tax credits of approximately $ available to offset future Canadian federal income taxes payable as well as provincial investment tax credits of approximately $ . The federal tax credits are available to be carried forward years (expiring in 2036 to 2043) to offset future Canadian federal income taxes payable and the provincial tax credits are available to be carried forward years (expiring in 2026 to 2033) to offset future BC income taxes payable. The benefit of the investment tax credits has not been recognized as their realization is not reasonably assured. The Company files income tax returns in Canada, United States and Australia, the jurisdictions in which the Company believes that it is subject to tax. In jurisdictions in which the Company does not believe it is subject to tax and therefore does not file income tax returns, the Company can provide no certainty that tax authorities in those jurisdictions will not subject one or more tax years (since the inception of the Company) to examination. Further, while the statute of limitations in each jurisdiction where an income tax return has been filed generally limits the examination period, as a result of loss carry-forwards, the limitation period for examination generally does not expire until several years after the loss carry-forwards are utilized. Other than routine audits by tax authorities for tax credits and tax refunds that the Company claims, the Company is not aware of any other material income tax examination currently in progress by any taxing jurisdiction. Tax years ranging from 2012 to 2023 remain subject to examinations in Canada and the United States 2022 to 2023 for Australia.

Commitments

Commitments	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments	17. COMMITMENTS The Company may be required to make milestone, royalty, and other research and development funding payments under research and development collaboration and other agreements with third parties (see Note 10 Eupraxia has entered into a number of service contracts with its vendors. Some of those contracts have cancellation clauses which state Eupraxia would pay a cancellation fee of between 15% and 100% of the next service milestone if it terminates the contract. As of December 31, 2023, there have been no cancellation of contracts that would trigger a cancellation fee.

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Financial Instruments	18. FINANCIAL INSTRUMENTS The Company’s financial instruments consist of cash and cash equivalents, amounts receivable, accounts payable and accrued liabilities, payable to Auritec, loans payable and convertible debt. There were no changes to the Company’s risk exposures or management of risks during the year ended December 31, 2023. The Company’s risk exposures and the impact on the Company’s financial instruments are summarized below: Credit risk Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Company believes it has no significant credit risk, as its cash and cash equivalents and short-term investments, being its primary exposure to credit risk, is with a large Canadian bank. The Company’s maximum exposure to credit risk is the carrying value of these financial assets. Liquidity risk Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity risk is to ensure that it will have sufficient liquidity to meet liabilities when due. As at December 31, 2023, the Company had cash and cash equivalents of $19,341,756 (2022 - $18,263,389) in addition to current liabilities of $19,373,903 (2022 - $3,058,387). Management is currently working on certain strategic alternatives including, but not limited to raising additional capital and strategic alternatives to its existing contingent convertible debt facility. There is no assurance, however, that any or all of these alternatives will materialize or that additional funding will be available, if and when needed. Market risk Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: currency risk, interest rate risk and other price risk. Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market i nteres The convertible debt accrues interest at the greater of 2.45% and the Canadian prime rate, requiring monthly interest payments. An additional payment in kind accrues at a rate of 7% per annum, which will be settled at maturity or on conversion. The equipment loan accrues interest at a fixed rate of 5.84%. As at December 31, 2023, management has determined the effect on the future results of operations due to a change in the current Canadian prime rate. An impact of a 1% change in the Canadian prime rate would impact the amount of interest to be paid over the remaining term of the convertible debt facility by approximately $43,807. Currency risk Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company is exposed to currency risk due to its frequency of transactions in US dollars. The Company does not use derivatives to hedge against this risk, however, it has purchased US dollars to cover the majority of the costs of the Company’s Phase 2 clinical trial. At December 31, 2023, the Company held cash of $ (2022 – $ ) , had accounts payable of $1,292,128 (2022 – $1,814,067), a $ (2022 – $ ) denominated in US dollars which were translated to Canadian dollars at (2022 – ). The impact of a 10% change in the exchange rates would have an impact of approximately $ (2022 – $ ) on profit or loss. The Company also has cash in accounts payable in Australian dollars, Great British pounds and Euros. The impact of a % change in the exchanges of these currencies would have an immaterial effect on future cash flows. Other price risk Other price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices (other than those arising from interest rate risk and foreign currency risk), whether those changes are caused by factors specific to the individual financial instrument or its issuer or by factors affecting all similar financial instruments traded in the market. The Company is not exposed to significant price risk with respect to commodity or equity prices. Fair Value Measurement The Company categorizes its financial instruments measured at fair value into one of three different levels depending on the observation of inputs used in the measurement. Level 1: Fair value is based on unadjusted quoted prices for identical assets or liabilities in active markets Level 2: Fair value is based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly Level 3: Fair value is based on valuation techniques that require one or more significant unobservable inputs The Company’s financial instruments consist of cash and cash equivalents, short-term investments, accounts payable and accrued liabilities, loans payable and convertible debt. With the exception of convertible debt, the carrying value of the Company’s financial instruments approximate their fair values due to their short-term maturities. The following table summarizes information regarding the classification and carrying values of the Company’s financial instruments measured at amortized cost: Financial assets/liabilities December 31, 2023 December 31, 2022 Cash and cash equivalents $ 19,341,756 $ 18,263,389 Amounts receivable $ 190,612 $ 89,715 Accounts payable and accrued liabilities $ 3,921,875 $ 2,928,566 Payable to Auritec $ 5,000,000 $ —  Loans payable $ 62,709 $ 142,127 The following table summarizes information regarding the changes in fair value of liabilities measured at fair value, categorized as Level 3: Convertible Debt Balance – December 31, 2021 $ 7,507,755 Accrued interest 958,669 Interest paid (315,436 ) Change in fair value 1,056,165 Foreign exchange (465,157 ) Balance - December 31, 2022 $ 8,741,996 Accrued interest 1,162,773 Interest paid (591,170 ) Change in fair value 836,595 Foreign exchange 185,809 Balance - December 31, 2023 $ 10,336,003 For the convertible debt, the key inputs that affect the ongoing valuation are the discount price, the share price and the share price volatility.

Interest Expense

Interest Expense	12 Months Ended
	Dec. 31, 2023
Interest Expense [Abstract]
Interest Expense	19. INTEREST EXPENSE Interest expense is comprised of the following: Year ended Year ended December 31, 2022 Interest on SVB debt facility (Note 11) $ 1,162,773 $ 958,669 Other interest and accretion 7,400 24,187 Total $ 1,170,173 $ 982,856

Supplemental Disclosure with Re

Supplemental Disclosure with Respect to Cash Flows	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosure with Respect to Cash Flows	20. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS The Company paid interest of $598,046 during the year ended December 31, 2023 (2022 - $326,629). The Company received interest of $912,033 during the year ended December 31, 2023 (2022 - $394,188). The Company had the following significant non-cash • 99,061 common shares (valued at $511,678) were issued as part of the financing on August 18, 2023, as a payment of finder’s fees (see Note 12 The Company had the following significant non-cash • 500,538 warrants (valued at $160,147) were issued as part of the financing on April 20, 2022, to the Underwriters (see 12 A detailed breakdown of cash and cash equivalents is as follows: December 31, 2023 December 31, 2022 Cash $ 19,341,756 $ 10,830,891 Cash equivalents —  7,432,498 Total $ 19,341,756 $ 18,263,389

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Event	21. SUBSEQUENT EVENT On March 15, 2024, the Company announced it had closed its previously announced overnight marketed public offering (the “Offering”) of common shares of the Company (the “Shares”). Pursuant to the Offering, Eupraxia issued 8,260,435 Shares at a price of C$4.10 per Share for gross proceeds of $25,026,073 (CDN$33,867,784 ), which includes the issuance of

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Measurement	Basis of Measurement The consolidated financial statements have been prepared on a historical cost basis, except for certain financial instruments which are measured at fair value. The consolidated financial statements are presented in U.S. dollars, which is the Company’s reporting currency. The Company’s functional currency is the Canadian dollar. The preparation of consolidated financial statements in accordance with U.S. GAAP requires the Company to make estimates and judgments in certain circumstances that affect the reported amounts of assets, liabilities, expenses, and related disclosure. On an ongoing basis, the Company evaluates its estimates, most notably those related to accrual of expenses including clinical and preclinical study expense accruals, stock-based compensation, valuation allowance for deferred taxes, and fair value measurement of convertible debt. Management bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances. Actual results could differ from these estimates.
Consolidation	Consolidation These consolidated financial statements include the accounts of the Company and the accounts of its subsidiaries. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Control exists when an entity is exposed to or has rights to variable returns from its involvement with the entity and has the ability to affect these returns through its power over the entity. All significant intercompany transactions and balances have been eliminated. Non-controlling Non-controlling non-controlling non-controlling Company Entity Date of Incorporation Jurisdiction of Effective Eupraxia Holdings, Inc. October 10, 2012 Delaware, USA 95 % Eupraxia Pharmaceuticals USA, LLC October 10, 2012 Delaware, USA 95 % AMDM Holdings Inc. (2) April 6, 2016 Washington, USA 95 % Eupraxia Pharma, Inc. January 7, 2021 Delaware, USA 95 % Eupraxia Pharmaceuticals Australia Pty Ltd. July 4, 2022 Victoria, Australia 100 % (1) Eupraxia Pharma USA Inc. May 17, 2023 Delaware, USA 100 % (1) (1) Wholly-owned subsidiary of Eupraxia Pharmaceuticals Inc. (2) Date of Control occurred on January 31, 2021 (see Note 13(e)).
Earnings (Loss) per Share	Earnings (Loss) per Share The Company applies the “Treasury Stock Method” to calculate loss per common share. Under this method, the basic earnings (loss) per share is calculated based on the weighted average aggregate number of common shares outstanding during each period. The diluted earnings (loss) per share assumes that the outstanding stock options and share purchase warrants had been exercised at the beginning of the period, or date of issuance if issued during the period, and proceeds from dilutive instruments are used to purchase common shares at the average market price during the period. Since the Company was in a loss position for the years ended December 31, 2023 and 2022, the assumed conversion of outstanding common share warrants, options, and convertible instruments has an anti-dilutive impact, therefore the diluted loss per share is equal to basic loss per share.
Equipment	Equipment Equipment is recorded at historical cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided over the estimated useful lives of the assets as follows: Computers 45% declining balance Office furniture and equipment 20% declining balance Leasehold improvements straight-line over the shorter of the initial term of the lease or useful life Lab equipment 20% declining balance The useful lives and depreciation methods applied to each category of equipment are assessed on an annual basis by management and adjusted where necessary to reflect the recoverability of equipment.
Research and Development Expenditures	Research and Development Expenditures Research and development costs are expensed as they are incurred. These costs consist primarily of salaries and wages related to research and development activities, including share-based payments for employees engaged in research and development, clinical trial expenses and other research costs.
Investment Tax Credits	Investment Tax Credits Investment tax credits (“ITCs”) arising from research and development activities are deducted from the related costs and are included in profit or loss when there is reasonable assurance that the credits will be realized. ITCs arising from the acquisition or development of equipment and capitalized development costs are deducted from the cost of those assets with amortization calculated on the net amount.
Government Grants	Government Grants Government grants related to research and development activities are recognized in profit or loss as a deduction from the related expenditure when there is reasonable assurance that the grant will be received. Grants that compensate the Company for the cost of an asset are recognized in profit or loss on a systematic basis over the useful life of the asset.
Government Assistance	Government Assistance Government contributions are recognized and deducted from the related costs when there is reasonable assurance that the contribution will be received and all attached conditions have been complied with by the Company. Government contributions arising from the acquisition or development of equipment and capitalized development costs are deducted from the cost of those assets with amortization calculated on the net amount.
Income Taxes	Income Taxes Current income tax is the expected tax payable or recoverable on the taxable profit or loss for the year using tax rates enacted at the reporting date and any adjustment to tax payable from previous years. Deferred tax is recorded using the asset and liability method, providing for temporary differences, between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Temporary differences are not provided for if they relate to goodwill not deductible for tax purposes, or differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates and laws enacted at the reporting date and expected to apply when these differences reverse. A deferred tax asset is recognized only to the extent that it is more likely than not that future taxable profits will be available against which the asset can be utilized. The Company uses a two-step process to recognize and measure the income tax benefit of uncertain tax positions taken or expected to be taken in a tax return. The tax benefit from an uncertain tax position is recognized if it more likely than not that the position will be sustained upon examination of the tax authority based solely on the technical merits of the position. A tax benefit that meets the more likely than not recognition threshold is measured as the largest amount that is greater than 50% likely to realized upon settlement with the tax authority. To the extent a full benefit is not expected to be realized, an income tax liability is established. Any change in judgement related to the expected resolution of an uncertain tax provision is recognized in the year of such a change. Interest an penalties related to income tax are included as a component of income tax expense.
Share-based Payments	Share-based Payments The Company grants stock options to employees, directors and officers pursuant to stock option plans described in note 13c. Employee stock-based compensation expense is measured at the grant date, based on the estimated fair value of the award, and is recognized as an expense, net of actual forfeitures, over the requisite service period with a corresponding increase in additional paid-in capital. Stock-based compensation expense is amortized on a straight-line basis over the requisite service period for the entire award, which is generally the vesting period of the award. Any consideration received on exercise of stock options is credited to share capital.
Share Capital and Warrants	Share Capital and Warrants The Company records proceeds from share issuances net of issue costs and any related tax effects. Common shares issued for consideration other than cash are valued based on their market value at the date the agreement to issue shares was concluded. When units are issued during a private placement, which include both common shares and share purchase warrants, the warrants are classified as equity and as such, the proceeds should be allocated based on the relative fair values of the base instrument and the warrants on the day of the announcement of the private placement. Any value of the warrants is allocated to the warrants and credited to additional paid-in
Foreign Currency Translation	Foreign Currency Translation The functional currency for each of the Company and the Company’s subsidiaries is the currency of the primary economic environment in which each entity operates. Determination of functional currency may involve certain judgments to determine the primary economic environment. The Company reconsiders the functional currency of its entities if there is a change in events and conditions which determine the primary economic environment. The functional currency of Eupraxia Pharmaceuticals Inc., the parent entity, and each of the Company’s subsidiaries is the Canadian dollar. Transactions in foreign currencies are translated to the functional currency of the entity at the exchange rate at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated at the period end date exchange rates. Non-monetary Non-monetary re-translated re-translation The reporting currency of the Company’s consolidated financial statements is the U.S. dollar. All assets and liabilities are translated from the functional currency to the reporting currency using the spot rate at the period end date, equity components are translated at the historical rate, and income and expenses are translated using the average exchange rate for the period. All foreign currency differences arising on translation from functional to reporting currency are included in accumulated other comprehensive income.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company assesses the recoverability of its long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the long-lived asset is measured by a comparison of the carrying amount of the asset to future undiscounted net cash flows expected to be generated by the asset or group of assets. If carrying value exceeds the sum of undiscounted cash flows, the Company then determines the fair value of the underlying asset. Any impairment to be recognized is measured by the amount by which the carrying amount of the asset group exceeds the estimated fair value of the asset or asset group. As of December 31, 2023 and 2022, the Company determined that there were no indicators of impairment of long-lived assets.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand, bank deposits, and highly liquid investments with original maturities of three months or less from the date of purchase that are readily convertible to known amounts of cash and subject to insignificant risk of changes in value. Cash equivalents are recorded at cost plus accrued interest.
Short Term Investments	Short Term Investments Short term investments include highly liquid investments with original maturity dates greater than three months and less than one year and cannot be redeemed prior to maturity without incurring a penalty.
Financial Instruments and Fair Value	Financial Instruments and Fair Value The Company measures certain financial instruments and other items at fair value into a three-level hierarchy established by US GAAP that prioritizes those inputs to valuation techniques used to measure fair value on the degree to which they are observable. This hierarchy includes: i. Level 1 – Unadjusted quoted prices in active markets for identical instruments. ii. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the financial instrument, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means. iii. Inputs are unobservable and reflect the Company’s assumptions as to what market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available. Assets and liabilities are classified on the lowest level of input that is significant to the fair value measurements. Reclassification of the level may be a result of changes in the observability of the valuation inputs for certain instruments within the fair value hierarchy. The carrying value of accounts receivable, accounts payable, and accrued expense approximate fair value due to the short-term nature of these instruments. On a recurring basis, the Company’s cash and cash equivalents and marketable securities are measured at fair value.
Leases	Leases Leases classified as operating leases are recorded as lease liabilities based on the present value of minimum lease payments over the lease term, discounted using the lessor’s rate implicit in the lease or the Company’s incremental borrowing rate, if the lessor’s implicit rate is not readily determinable. The lease term includes all periods covered by renewal and termination options where the Company is reasonably certain to exercise the renewal options or not to exercise the termination options. Corresponding right-of-use right-of-use right-of-use
Upcoming Accounting Standards and Interpretations	Upcoming Accounting Standards and Interpretations The Company has not yet adopted certain new standards, amendments and interpretations to existing standards, which have been published but are only effective for accounting periods beginning on or after January 1, 2024 or later periods. The new and amended standards are not expected to have a material impact on the Company’s consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Information About Subsidiaries	Company Entity Date of Incorporation Jurisdiction of Effective Eupraxia Holdings, Inc. October 10, 2012 Delaware, USA 95 % Eupraxia Pharmaceuticals USA, LLC October 10, 2012 Delaware, USA 95 % AMDM Holdings Inc. (2) April 6, 2016 Washington, USA 95 % Eupraxia Pharma, Inc. January 7, 2021 Delaware, USA 95 % Eupraxia Pharmaceuticals Australia Pty Ltd. July 4, 2022 Victoria, Australia 100 % (1) Eupraxia Pharma USA Inc. May 17, 2023 Delaware, USA 100 % (1) (1) Wholly-owned subsidiary of Eupraxia Pharmaceuticals Inc. (2) Date of Control occurred on January 31, 2021 (see Note 13(e)).
Summary of Property Plant And Equipment Estimated Useful Life	Equipment is recorded at historical cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided over the estimated useful lives of the assets as follows: Computers 45% declining balance Office furniture and equipment 20% declining balance Leasehold improvements straight-line over the shorter of the initial term of the lease or useful life Lab equipment 20% declining balance

Amounts Receivable (Tables)

Amounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Summary of Amounts Receivable	December 31, December 31, 2023 2022 Government grants (Note 14) $ —  $ 13,892 GST/HST recoverable 85,879 38,658 Other refundable tax credits (1) 104,733 37,165 Total $ 190,612 $ 89,715 (1) Other refundable tax credits are due to tax incentives for R&D costs incurred by Eupraxia Australia (Note 14 – Research and Development Expenses).

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment consisted of the following: Computers Office Leasehold Lab Total Cost As at January 1, 2022 $ 101,754 $ 73,267 $ 134,333 $ 289,569 $ 598,923 Additions 20,279 5,551 —  209,720 235,550 Disposals (47,603 ) (8,158 ) —  —  (55,761 ) Foreign currency adjustments (3,852 ) (4,261 ) (8,589 ) (25,736 ) (42,438 ) As at December 31, 2022 70,578 66,399 125,744 473,553 736,274 Additions 18,534 —  —  54,843 73,377 Disposals (5,488 ) —  —  (16,124 ) (21,612 ) Foreign currency adjustments 2,001 1,597 3,023 12,992 19,613 As at December 31, 2023 85,625 67,996 128,767 525,264 807,652 Accumulated Depreciation As at January 1, 2022 71,187 46,965 91,345 38,631 248,128 Depreciation 17,153 5,256 14,366 73,328 110,103 Disposals (43,540 ) (5,342 ) —  —  (48,882 ) Foreign currency adjustments (2,295 ) (2,853 ) (6,410 ) (4,981 ) (16,539 ) As at December 31, 2022 42,505 44,026 99,301 106,978 292,810 Depreciation 17,612 4,492 13,849 76,930 112,883 Disposals (5,162 ) —  —  (11,604 ) (16,766 ) Foreign currency adjustments 1,226 1,149 2,666 4,097 9,138 As at December 31, 2023 56,181 49,667 115,816 176,401 398,065 Net Book Value As at December 31, 2022 28,073 22,373 26,443 366,575 443,464 As at December 31, 2023 $ 29,444 $ 18,329 $ 12,951 $ 348,863 $ 409,587

Right-of-Use Asset (Tables)

Right-of-Use Asset (Tables)	12 Months Ended
	Dec. 31, 2023
Operating Lease Right of Use Asset [Abstract]
Summary of Right of Use Assets	The following table presents details of movement in the carrying value of the right-of-use December 31, December 31, Balance, beginning $ 87,286 $ 132,020 Depreciation (42,644 ) (37,791 ) Foreign Exchange 2,018 (6,943 ) Balance, ending $ 46,660 $ 87,286

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Accounts Payable and Accrued Liabilities, Current [Abstract]
Summary of Accounts Payable and Accrued Liabilities	December 31, 2023 December 31, 2022 Research and development $ 1,968,263 $ 2,137,336 General and administrative 1,040,204 261,933 Wages and payroll remittances 18,357 15,996 Employee bonus payable (1) 858,628 513,301 Taxes payable 36,423 —  Total $ 3,921,875 $ 2,928,566 (1) Bonus relates to corporate bonuses for the years ended December 31, 2023 and 2022.

Loans Payable (Tables)

Loans Payable (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Summary of Breakdown of Loan Balance	Below is a breakdown of loan balance as at December 31, 2023 and December 31, 2022: December 31, December 31, Balance, beginning $ 142,127 $ 216,994 Loan repayment (79,441 ) (74,845 ) Foreign exchange adjustment 23 (22 ) Balance, ending $ 62,709 $ 142,127 Current portion $ 62,709 $ 79,418 Non-current $ —  $ 62,709

Lease Liability (Tables)

Lease Liability (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Summary of Cost Components of The Operating Lease	The cost components of the operating lease were as follows for the years ended December 31, 2023 and 2022: December 31, December 31, 2023 2022 Lease Cost Operating lease expense $ 64,996 $ 67,423 Variable lease expense 68,584 66,455 Lease term and Discount Rate Weighted average remaining lease term (years) 0.92 1.92 Weighted average discount rate 14 % 14 %
Summary of Future Minimum Lease Payments	The Company’s future minimum lease payments as of December 31, 2023 are as follows: Year ending December 31: 2024 60,780 Total undiscounted future minimum lease payments $ 60,780 Less: balance of unused tenant allowance —  Less: imputed interest (7,464 ) Present value of lease liabilities at December 31, 2023 $ 53,316
Summary of Lease Liability Balance	The lease liability balance is comprised as follows: December 31, December 31, Current portion $ 53,316 $ 50,403 Non-current —  51,303 $ 53,316 $ 101,706

Auritec License Agreement (Tabl

Auritec License Agreement (Tables)	12 Months Ended
	Dec. 31, 2023
License Agreement [Abstract]
Schedule of milestone payment	The following table summarizes the milestone payment schedule. Milestone Event Milestone Successful Completion of a Phase 2b Study 5,000,000 First OA Regulatory Approval 5,000,000 Second OA Regulatory Approval 5,000,000 Non-OA 10,000,000 First calendar year in which aggregate Net Sales by Eupraxia USA, its affiliates and sublicenses exceed $500,000,000 5,000,000 Maximum milestones payable $ 30,000,000
Schedule of non-royalty monetization revenue percentage	The following table summarizes the Non-Royalty Date of Execution Percentage of Non-Royalty Prior to Successful Completion of a Phase 2b Study 30 % After Successful Completion of a Phase 2b Study but prior to Successful Completion of a Phase 3 Study 20 % After Successful Completion of a Phase 3 Study but prior to Regulatory Approval of a Product in the Eupraxia Field from FDA in the United States 15 % After Regulatory Approval of a Product in the Eupraxia Field from FDA in the United States 10 %

Convertible Debt (Tables)

Convertible Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Loan [Member]
Disclosure In Tabular Form Of Movement In Convertible Debt At Fair Value [Line Items]
Schedule of loan balance	The loan balance is comprised of the following: Balance – December 31, 2021 $ 7,507,755 Accrued interest 958,669 Interest paid (315,436 ) Change in fair value 1,056,165 Foreign exchange (465,157 ) Balance – December 31, 2022 $ 8,741,996 Accrued interest 1,162,773 Interest paid (591,170 ) Change in fair value 836,595 Foreign exchange 185,809 Balance – December 31, 2023 $ 10,336,003

Share Capital and Other Compo_2

Share Capital and Other Components of Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of company's option	The following table summarizes the Company’s option transactions: Number of options Weighted average Outstanding, December 31, 2021 2,134,250 $ 7.83 Granted 1,172,200 3.16 Outstanding, December 31, 2022 3,306,450 6.18 Exercised (20,600 ) 2.00 Cancelled (24,800 ) 3.73 Granted 257,200 6.91 Outstanding, December 31, 2023 3,518,250 $ 6.27
Summary of options outstanding along with the grant dates and expiry date	Grant Date Options Options Exercise Price (CDN$) Expiry Date Remaining Contractual Sep 27, 2015 186,250 186,250 $ 8.00 (3) Mar 31, 2025 1.25 Nov 2, 2015 95,000 95,000 $ 8.00 (3) Nov 2, 2025 1.85 Mar 5, 2018 452,250 452,250 $ 8.00 (3) Mar 5, 2028 4.18 Mar 9, 2021 756,950 567,713 $ 8.00 Mar 9, 2031 7.20 Mar 9, 2021 326,800 326,800 $ 8.00 Mar 9, 2031 7.20 May 3, 2021 257,000 192,750 $ 8.00 May 3, 2031 7.35 Dec 9, 2021 60,000 57,500 $ 2.02 Dec 9, 2031 7.95 Mar 31, 2022 392,500 186,750 $ 1.90 Mar 31, 2032 8.26 Dec 9, 2022 734,300 407,983 $ 3.85 Dec 9, 2032 8.95 May 18, 2023 180,000 45,000 $ 6.84 May 18, 2033 9.39 May 30, 2023 17,200 4,300 $ 6.75 May 30, 2033 9.42 Sep 27, 2023 60,000 15,000 $ 7.16 Sep 27, 2033 9.75 3,518,250 2,537,296 $ 6.27 7.02
Summary of weighted-average assumptions	The share-based compensation expense was determined based on the fai December 31, December 31, Options granted during the year ended 2023 2022 Expected dividend yield 0.00 % 0.00 % Expected forfeiture rate 0.00 % 0.00 % Weighted average annual volatility 79.60 % 78.66 % Weighted average risk-free interest rate 3.54 % 2.80 % Weighted average expected option life 5.75 years 5.70 years Weighted average share price (CDN$) $ 6.91 $ 3.16 Weighted average exercise price (CDN$) $ 6.91 $ 3.16 Weighted average fair value of options granted (CDN$) $ 4.78 $ 2.17
Summary of share based compensation arrangements by share based payment warrant	The following table summarizes the Company’s warrant transactions: Number of warrants Weighted average exercise price (CDN$) Outstanding December 31, 2021 4,161,898 $ 8.81 Issued 7,832,088 2.94 Expired (289,172 ) 8.00 Exercised (200,000 ) 2.05 Outstanding December 31, 2022 11,504,814 $ 4.95 Exercised (2,385,484 ) 2.90 Outstanding December 31, 2023 9,119,330 $ 5.49
Summary of share based compensation of share warrants outstanding	As at December 31, 2023, the following warrants were out standing: Expiry date Exercise price Remaining Warrants 120 days after holder to be a Director/ Officer or consultant $ 0.7572 N/A 243,421 120 days after former spouse ceases to be a Director/ Officer or consultant 0.7572 N/A 137,500 120 days after holder ceases to be a Director/ Officer or consultant (1) 0.4984 N/A 315,500 January 4, 2024 5.5993 0.01 239,080 January 4, 2024 7.1991 0.01 39,846 January 8, 2024 5.5993 0.02 31,877 March 9, 2026 11.20 2.19 2,826,274 April 20, 2026 3.00 2.30 5,196,550 April 20, 2026 2.05 2.30 50,054 April 29, 2026 11.20 2.33 39,228 $ 5.49 9,119,330 (1) Represents unit purchase to acquire 315,500 0.75

General And Administrative Ex_2

General And Administrative Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
General And Administrative Expenses [Abstract]
Schedule of general and administrative expenses	General and administrative expenses are comprised of the following: December 31, December 31, 2023 2022 Office expenses $ 389,210 $ 332,951 Insurance 367,472 357,763 Travel 345,992 120,115 Professional fees 2,821,798 268,698 Public company costs 404,073 214,264 Salaries and benefits 2,241,079 1,641,049 Share based payments (Note 12(c)) 714,380 1,052,758 Total expenses during the period $ 7,284,004 $ 3,987,598

Research And Development Expe_2

Research And Development Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Research and Development Expense [Abstract]
Schedule of research and development expenses	Research and development expenses are comprised of the following: December 31, 2023 December 31, 2022 Preclinical $ 1,616,238 $ 1,073,668 Clinical 4,595,597 7,179,535 Manufacturing & analytical 4,986,502 2,177,070 Regulatory 341,589 588,652 Consulting —  660 Direct research and development 11,539,926 11,019,585 Pipeline development 83,637 227,615 Other research and development 672,295 424,628 Salaries and benefits 2,794,891 1,901,257 Share based payments (Note 12(c)) 697,877 381,054 License costs (Note 10) 5,000,000 —  Government grants (Note 15) (122,542 ) (288,515 ) SR&ED and other R&D tax incentives (102,859 ) (35,770 ) Total expenses during the period $ 20,563,225 $ 13,629,854

Government Grants And Assista_2

Government Grants And Assistance (Tables)	12 Months Ended
	Dec. 31, 2023
Government Assistance [Abstract]
Shedule Of Government Grants And Assistance Received	The following table summarizes the government grants and assistance the Company received or accrued during the years ended December 31, 2023 and 2022: 2023 2022 NRC-IRAP $ 122,542 $ 277,117 BioTalent Canada —  11,398 Total $ 122,542 $ 288,515

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Components Included in Loss Before Taxes	For financial reporting purposes, loss before taxes includes the following components: Year ended December 31, 2023 2022 Canadian $ (28,810,717 ) $ (18,925,281 ) Foreign (118,866 ) (65,483 ) Total $ (28,929,583 ) $ (18,990,764 )
Schedule of Income Tax Expense	The income tax expense consists of the following: Year ended December 31, 2023 2022 Canadian Current $ —  $ —  Deferred $ —  $ —  $ —  $ —  Foreign Current $ 36,423 $ —  Deferred $ —  $ —  $ 36,423 $ —  Total Current $ 36,423 $ —  Deferred $ —  $ —  $ 36,423 $ —
Schedule of Components of Income Tax Expense Benefit	Year ended December 31, 2023 2022 Loss before taxes $ (28,929,583 ) $ (18,990,764 ) Statutory Canadian corporate tax rate 27 % 27 % Expected tax recovery at statutory rates (7,810,987 ) (5,127,506 ) Change in unrecognized deferred tax assets 9,523,404 5,127,732 Non-deductible share-based payments 381,285 414,724 Other items not deductible for tax purposes and other 242,460 11,570 Adjustments related to prior years (624,973 ) (257,636 ) Share issue costs (290,289 ) (322,131 ) Foreign exchange arising on translation to reporting currency (1,384,477 ) 153,247 Income tax expense $ 36,423 $ —
Schedule of Components of Company's Net Deferred Income Tax Assets	Deferred income tax assets and liabilities result from the temporary differences between the amount of assets and liabilities recognized for financial statement and income tax purposes. The significant components of the Company’s net deferred income tax assets are as follows: December 31, December 31, Convertible debt $ 733,756 $ 360,307 Depreciable assets 3,092,163 1,655,346 Lease obligation 4,925 8,122 Non-capital 18,348,349 12,776,875 Share issue costs 728,046 694,773 Scientific research and experimental development pool 2,093,085 852,776 Tax credits 1,546,834 797,401 Other 121,846 —  Less: valuation allowance (26,669,004 ) (17,145,600 ) Net deferred income tax assets $ — $ —
Schedule of Non Capital Losses Carry Forward Future Years	the non-capital losses in each jurisdiction will expire as follows (all amounts expressed in USD): Expiry date Non-capital losses– Non-capital losses– US Non-capital losses– Australia 2031 $ 281,235 $ —  $ —  2032 575,606 322,050 —  2033 2,481,600 1,111,122 —  2034 2,935,535 160,000 —  2035 2,466,288 160,000 —  2036 3,797,516 160,048 —  2 7,294,414 160,000 —  2038 3,060,930 —  —  2039 1,666,415 —  —  2040 144,413 —  —  2041 6,404,809 —  —  2042 13,526,387 —  —  2043 17,642,270 —  Unlimited —  1,479,139 69,093 $ 62,277,418 $ 3,552,359 $ 69,093

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure In Tabular Form Of Movement In Convertible Debt At Fair Value [Line Items]
Summary of Carrying Value of Financial Instruments at Amortized Cost	The following table summarizes information regarding the classification and carrying values of the Company’s financial instruments measured at amortized cost: Financial assets/liabilities December 31, 2023 December 31, 2022 Cash and cash equivalents $ 19,341,756 $ 18,263,389 Amounts receivable $ 190,612 $ 89,715 Accounts payable and accrued liabilities $ 3,921,875 $ 2,928,566 Payable to Auritec $ 5,000,000 $ —  Loans payable $ 62,709 $ 142,127
Level 3 [Member]
Disclosure In Tabular Form Of Movement In Convertible Debt At Fair Value [Line Items]
Summary of Changes in Fair Value of Liabilities Measured at Fair Value	The following table summarizes information regarding the changes in fair value of liabilities measured at fair value, categorized as Level 3: Convertible Debt Balance – December 31, 2021 $ 7,507,755 Accrued interest 958,669 Interest paid (315,436 ) Change in fair value 1,056,165 Foreign exchange (465,157 ) Balance - December 31, 2022 $ 8,741,996 Accrued interest 1,162,773 Interest paid (591,170 ) Change in fair value 836,595 Foreign exchange 185,809 Balance - December 31, 2023 $ 10,336,003

Interest Expense (Tables)

Interest Expense (Tables)	12 Months Ended
	Dec. 31, 2023
Interest Expense [Abstract]
Schedule of Interest Expense	Interest expense is comprised of the following: Year ended Year ended December 31, 2022 Interest on SVB debt facility (Note 11) $ 1,162,773 $ 958,669 Other interest and accretion 7,400 24,187 Total $ 1,170,173 $ 982,856

Supplemental Disclosure with _2

Supplemental Disclosure with Respect to Cash Flows (Tables)	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Summary of Detailed Breakdown of Cash and Cash Equivalents	A detailed breakdown of cash and cash equivalents is as follows: December 31, 2023 December 31, 2022 Cash $ 19,341,756 $ 10,830,891 Cash equivalents —  7,432,498 Total $ 19,341,756 $ 18,263,389

Nature of Business and Going _2

Nature of Business and Going Concern - Additional Information (Detail)		3 Months Ended		12 Months Ended
	Aug. 18, 2023 USD ($) shares	Mar. 31, 2024 USD ($) shares	Mar. 31, 2024 CAD ($) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2023 CAD ($) shares	Dec. 31, 2022 USD ($)
Nature of Operations [Line Items]
Date of incorporation				May 12, 2011	May 12, 2011
The amount of cash and cash equivalents				$ 19,341,756		$ 18,263,389
Revenues				0
Net loss				28,966,006		18,990,764
Accumulated deficit				(105,501,295)		(77,280,499)
Silicon Valley Bank [Member]
Nature of Operations [Line Items]
Debt instrument collateral amount				$ 0
Debt instrument month of maturity				2024-06	2024-06
Private Placement [Member]
Nature of Operations [Line Items]
Stock issued during period value new issues	$ 16,445,635			$ 15,886,537	$ 20,836,005
Shares issued through non-brokered private placement | shares	3,183,875			3,183,875	3,183,875
IPO [Member]
Nature of Operations [Line Items]
Sale of stock net consideration received on the transaction						$ 11,768,459
IPO [Member] | Subsequent Event [Member]
Nature of Operations [Line Items]
Shares issued through non-brokered private placement | shares		8,260,435	8,260,435
Sale of stock net consideration received on the transaction		$ 25,026,073	$ 33,867,784

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Summary of Information About Subsidiaries (Detail)	12 Months Ended
	Dec. 31, 2023
Summary Of Information About Subsidiaries [Line Items]
Date of Incorporation	May 12, 2011
Jurisdiction of Incorporation	Victoria
Country of Incorporation	CA
Eupraxia Holdings, Inc. [Member] | Subsidiaries [Member]
Summary Of Information About Subsidiaries [Line Items]
Date of Incorporation	Oct. 10, 2012
Jurisdiction of Incorporation	Delaware
Country of Incorporation	US
Effective Interest	95%
Eupraxia Pharmaceuticals USA, LLC [Member] | Subsidiaries [Member]
Summary Of Information About Subsidiaries [Line Items]
Date of Incorporation	Oct. 10, 2012
Jurisdiction of Incorporation	Delaware
Country of Incorporation	US
Effective Interest	95%
AMDM Holdings Inc. [Member] | Subsidiaries [Member]
Summary Of Information About Subsidiaries [Line Items]
Date of Incorporation	Apr. 06, 2016
Jurisdiction of Incorporation	Washington
Country of Incorporation	US
Effective Interest	95%
Eupraxia Pharma, Inc. [Member] | Subsidiaries [Member]
Summary Of Information About Subsidiaries [Line Items]
Date of Incorporation	Jan. 07, 2021
Jurisdiction of Incorporation	Delaware
Country of Incorporation	US
Effective Interest	95%
Eupraxia Pharmaceuticals Australia Pty Ltd. [Member] | Subsidiaries [Member]
Summary Of Information About Subsidiaries [Line Items]
Date of Incorporation	Jul. 04, 2022
Jurisdiction of Incorporation	Victoria
Country of Incorporation	AU
Effective Interest	100%
Eupraxia Pharma USA Inc. [Member] | Subsidiaries [Member]
Summary Of Information About Subsidiaries [Line Items]
Date of Incorporation	May 17, 2023
Jurisdiction of Incorporation	Delaware
Country of Incorporation	US
Effective Interest	100%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Property Plant And Equipment Estimated Useful Life (Detail)	12 Months Ended
	Dec. 31, 2023
Computers [Member]
Property, Plant and Equipment [Line Items]
Property Plant and Equipment Rate of Depreciation	45%
Office furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Property Plant and Equipment Rate of Depreciation	20%
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and Equipment Description of Rate of Depreciation	straight-line over the shorter of the initial term of the lease or useful life
Lab equipment [Member]
Property, Plant and Equipment [Line Items]
Property Plant and Equipment Rate of Depreciation	20%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Percentage of tax benefits to be realized for recognition in the income statement	50%

Amounts Receivable - Summary of

Amounts Receivable - Summary of Amounts Receivable (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Nontrade Receivables, Current [Abstract]
Government grants		$ 13,892
GST/HST recoverable	$ 85,879	38,658
Other refundable tax credits	104,733	37,165
Total	$ 190,612	$ 89,715

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cost
Balance, beginning	$ 736,274	$ 598,923
Additions	73,377	235,550
Disposals	(21,612)	(55,761)
Foreign currency adjustments	19,613	(42,438)
Balance, ending	807,652	736,274
Accumulated Depreciation
Balance, beginning	292,810	248,128
Depreciation	112,883	110,103
Disposals	(16,766)	(48,882)
Foreign currency adjustments	9,138	(16,539)
Balance, ending	398,065	292,810
Net Book Value	409,587	443,464
Computers [Member]
Cost
Balance, beginning	70,578	101,754
Additions	18,534	20,279
Disposals	(5,488)	(47,603)
Foreign currency adjustments	2,001	(3,852)
Balance, ending	85,625	70,578
Accumulated Depreciation
Balance, beginning	42,505	71,187
Depreciation	17,612	17,153
Disposals	(5,162)	(43,540)
Foreign currency adjustments	1,226	(2,295)
Balance, ending	56,181	42,505
Net Book Value	29,444	28,073
Office furniture and equipment [Member]
Cost
Balance, beginning	66,399	73,267
Additions		5,551
Disposals		(8,158)
Foreign currency adjustments	1,597	(4,261)
Balance, ending	67,996	66,399
Accumulated Depreciation
Balance, beginning	44,026	46,965
Depreciation	4,492	5,256
Disposals		(5,342)
Foreign currency adjustments	1,149	(2,853)
Balance, ending	49,667	44,026
Net Book Value	18,329	22,373
Leasehold Improvements [Member]
Cost
Balance, beginning	125,744	134,333
Foreign currency adjustments	3,023	(8,589)
Balance, ending	128,767	125,744
Accumulated Depreciation
Balance, beginning	99,301	91,345
Depreciation	13,849	14,366
Foreign currency adjustments	2,666	(6,410)
Balance, ending	115,816	99,301
Net Book Value	12,951	26,443
Lab Equipment [Member]
Cost
Balance, beginning	473,553	289,569
Additions	54,843	209,720
Disposals	(16,124)
Foreign currency adjustments	12,992	(25,736)
Balance, ending	525,264	473,553
Accumulated Depreciation
Balance, beginning	106,978	38,631
Depreciation	76,930	73,328
Disposals	(11,604)
Foreign currency adjustments	4,097	(4,981)
Balance, ending	176,401	106,978
Net Book Value	$ 348,863	$ 366,575

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 112,883	$ 110,103
General and Administrative Expense [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	13,276	13,870
Research and Development Expense [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 99,606	$ 96,233

Right-of-Use Asset - Summary of

Right-of-Use Asset - Summary of Right of Use Assets (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating Lease Right of Use Asset [Abstract]
Balance, beginning	$ 87,286	$ 132,020
Depreciation	(42,644)	(37,791)
Foreign Exchange	2,018	(6,943)
Balance, ending	$ 46,660	$ 87,286

Right-of-Use Asset - Additional

Right-of-Use Asset - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Right of Use Asset [Line Items]
Depreciation expense	$ 42,644	$ 37,791
General and Administrative Expense [Member]
Right of Use Asset [Line Items]
Depreciation expense	15,740	13,877
Research and Development Expense [Member]
Right of Use Asset [Line Items]
Depreciation expense	$ 26,904	$ 23,914

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities - Summary of Accounts Payable and Accrued Liabilities (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accounts Payable and Accrued Liabilities, Current [Abstract]
Research and development	$ 1,968,263	$ 2,137,336
General and administrative	1,040,204	261,933
Wages and payroll remittances	18,357	15,996
Employee bonus payable	858,628	513,301
Taxes payable	36,423
Total	$ 3,921,875	$ 2,928,566

Loans Payable - Additional Info

Loans Payable - Additional Information (Detail) - Loans Payable [Member] - USD ($)	Oct. 01, 2021	Sep. 13, 2021	Sep. 10, 2021
Debt Instrument [Line Items]
Borrowings of the company			$ 235,000
Term of loan agreement		36 months
Interest rate	5.84%
Debt instrument, frequency of periodic payment	monthly

Loans Payable - Summary of Brea

Loans Payable - Summary of Breakdown of Loan Balance (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Balance, beginning	$ 142,127	$ 216,994
Loan repayment	(79,441)	(74,845)
Foreign exchange adjustment	23	(22)
Balance, ending	62,709	142,127
Current portion	$ 62,709	79,418
Non-current portion		$ 62,709

Lease Liability - Summary of Co

Lease Liability - Summary of Cost Components of The Operating Lease (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lease Cost
Operating lease expense	$ 64,996	$ 67,423
Variable lease expense	$ 68,584	$ 66,455
Lease term and Discount Rate
Weighted average remaining lease term (years)	11 months 1 day	1 year 11 months 1 day
Weighted average discount rate	14%	14%

Lease Liability - Summary of Fu

Lease Liability - Summary of Future Minimum Lease Payments (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
2024	$ 60,780
Total undiscounted future minimum lease payments	60,780
Less: balance of unused tenant allowance	0
Less: imputed interest	(7,464)
Present value of lease liabilities	$ 53,316	$ 101,706

Lease Liability - Summary of Le

Lease Liability - Summary of Lease Liability Balance (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Current portion	$ 53,316	$ 50,403
Non-current portion		51,303
Present value of lease liabilities	$ 53,316	$ 101,706

Lease Liability - Additional in

Lease Liability - Additional information (Detail)	12 Months Ended
	Dec. 31, 2023 USD ($) ft²	Dec. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Area of real estate	4,900
Expiry date of lease agreement	Nov. 30, 2024
Area of subleased office space	616
Sublease income | $	$ 24,387	$ 24,387

Auritec License Agreement - Add

Auritec License Agreement - Additional Information (Detail) - Amended and Restated License Agreement [Member] - Eupraxia USA [Member]	12 Months Ended
	Dec. 31, 2023 USD ($)
License Agreement [Line Items]
Payment of upfront fees	$ 5,000,000
Royalty as a percentage of net sales	4%
Maximum amount incurrable out of non royalty revenue monetization	$ 100,000,000
Research and Development Expense [Member] | Successful Completion of a Phase 2b Study [Member]
License Agreement [Line Items]
Milestone payment recognized expense	5,000,000
Maximum [Member]
License Agreement [Line Items]
Payable towards commercial and regulatory milestone achievement	$ 30,000,000
Percentage of non royalty monetization revenue payable	30%
Maximum [Member] | Successful Completion of a Phase 2b Study [Member]
License Agreement [Line Items]
Payable towards commercial and regulatory milestone achievement	$ 5,000,000
Minimum [Member]
License Agreement [Line Items]
Percentage of non royalty monetization revenue payable	10%
Arithmetic Average [Member]
License Agreement [Line Items]
Percentage of non royalty monetization revenue payable	20%

Auritec License Agreement - Sch

Auritec License Agreement - Schedule of Milestone Payment (Detail) - Amended And Restated License Agreement [Member] - Eupraxia USA [Member] - Maximum [Member]	Dec. 31, 2023 USD ($)
Disclosure In Tabular Form Of Milestone Payment Schedule [Line Items]
Payable towards commercial and regulatory milestone achievement	$ 30,000,000
Successful Completion of a Phase 2b Study [Member]
Disclosure In Tabular Form Of Milestone Payment Schedule [Line Items]
Payable towards commercial and regulatory milestone achievement	5,000,000
First OA Regulatory Approval [Member]
Disclosure In Tabular Form Of Milestone Payment Schedule [Line Items]
Payable towards commercial and regulatory milestone achievement	5,000,000
Second OA Regulatory Approval [Member]
Disclosure In Tabular Form Of Milestone Payment Schedule [Line Items]
Payable towards commercial and regulatory milestone achievement	5,000,000
Non-OA Indication Regulatory Approval [Member]
Disclosure In Tabular Form Of Milestone Payment Schedule [Line Items]
Payable towards commercial and regulatory milestone achievement	10,000,000
First calendar year in which aggregate Net Sales by Eupraxia USA, its affiliates and sublicenses exceed $500,000,000 [Member]
Disclosure In Tabular Form Of Milestone Payment Schedule [Line Items]
Payable towards commercial and regulatory milestone achievement	$ 5,000,000

Auritec License Agreement - S_2

Auritec License Agreement - Schedule of Non-Royalty Monetization Revenue Percentage (Detail)	12 Months Ended
	Dec. 31, 2023
Prior to Successful Completion of a Phase 2b Study [Member]
Disclosure In Tabular Form Of Certain Percentage Of Non Monetization Revenue Payable [Line Items]
Percentage of Non-Royalty Monetization Revenue	30%
After Successful Completion of a Phase 2b Study but prior to Successful Completion of a Phase 3 Study [Member]
Disclosure In Tabular Form Of Certain Percentage Of Non Monetization Revenue Payable [Line Items]
Percentage of Non-Royalty Monetization Revenue	20%
After Successful Completion of a Phase 3 Study but prior to Regulatory Approval of a Product in the Eupraxia Field from FDA in the United States [Member]
Disclosure In Tabular Form Of Certain Percentage Of Non Monetization Revenue Payable [Line Items]
Percentage of Non-Royalty Monetization Revenue	15%
After Regulatory Approval of a Product in the Eupraxia Field from FDA in the United States [Member]
Disclosure In Tabular Form Of Certain Percentage Of Non Monetization Revenue Payable [Line Items]
Percentage of Non-Royalty Monetization Revenue	10%

Convertible Debt - Additional i

Convertible Debt - Additional information (Detail) - Convertible Debt [Member] - Silicon Valley Bank [Member] - CAD ($)		12 Months Ended
	Jun. 21, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt instrument face value	$ 10,000,000
Proceeds from convertible debt	$ 10,000,000
Debt instrument conversion price per share		$ 5.68
Amount to be raised by way of equity issue				$ 10,000,000
Aggregate amount raised by way of equity issue			$ 14,700,000
With Eighteen Months From The Date Of The Debt Agreement [Member]
Debt Instrument [Line Items]
Debt instrument redemption price percentage		125%
After Eighteen Months From The Date Of The Debt Agreement [Member]
Debt Instrument [Line Items]
Debt instrument redemption price percentage		150%
Canadian Prime Rate [Member]
Debt Instrument [Line Items]
Long term debt term					36 months
Long term debt term extendable at lenders discretion	48 months
Long term debt base rate			2.45%
Long term debt paid in kind interest rate percentage		7%
Canadian Prime Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Long term debt base rate		7.20%	6.45%
Canadian Prime Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Long term debt base rate		6.45%	2.45%

Convertible Debt - Schedule of

Convertible Debt - Schedule of Loan Balance (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure In Tabular Form Of Movement In Convertible Debt At Fair Value [Line Items]
Change in fair value	$ (836,595)	$ (1,056,165)
Convertible Debt [Member] | Loan [Member]
Disclosure In Tabular Form Of Movement In Convertible Debt At Fair Value [Line Items]
Beginning Balance	8,741,996	7,507,755
Accrued interest	1,162,773	958,669
Interest paid	(591,170)	(315,436)
Change in fair value	836,595	1,056,165
Foreign exchange	185,809	(465,157)
Ending Balance	$ 10,336,003	$ 8,741,996

Share Capital and Other Compo_3

Share Capital and Other Components of Equity - Additional information (Detail)

1 Months Ended

12 Months Ended

Aug. 18, 2023 USD ($) shares

Apr. 20, 2022 USD ($)

Jan. 31, 2021 shares

Dec. 31, 2021 shares

Dec. 31, 2023 USD ($) $ / shares shares

Dec. 31, 2023 CAD ($) $ / shares shares

Dec. 31, 2022 USD ($) $ / shares shares

Dec. 31, 2023 $ / shares

Aug. 18, 2023 $ / shares

Dec. 31, 2022 $ / shares

Apr. 20, 2022 $ / shares shares

Dec. 03, 2021

Class of Stock [Line Items]

Preferred stock shares authorized unlimited

Unlimited

Unlimited

Unlimited

Preferred stock par value | $ / shares

$ 0

$ 0

Common stock shares authorized unlimited

Unlimited

Unlimited

Unlimited

Common stock par no par value | $ / shares

$ 0

$ 0

Stock issued during the period shares exercise of stock options | shares

20,600

20,600

Stock issued during period value stock options excercised

$ 30,059

Share based compensation by share based award optinoss exercise din period weighted average exercise price | $ / shares

$ 2

Proceeds from issuance of warrants

$ 160,147

Proceeds from issuance of shares

15,886,537

$ 10,636,577

Allocated share based compensation

$ 714,380

1,052,758

Common Stock [Member]

Class of Stock [Line Items]

Stock issued during the period shares exercise of stock options | shares

20,600

20,600

Stock issued during period value stock options excercised

$ 48,835

Stock issued during the period shares for services | shares

99,061

Stock issued during the period value for services

$ 511,678

Euphraxia Pharma Inc [Member] | Common Class A [Member]

Class of Stock [Line Items]

Equity method investment number of shares owned | shares

4,275

Euphraxia Pharma Inc [Member] | Common Class A [Member] | Outstanding of AMDM Holdings [Member]

Class of Stock [Line Items]

Equity method investment ownership percentage

95%

AMDM Holdings [Member] | Euphraxia USA [Member]

Class of Stock [Line Items]

Minority interest held

5%

AMDM Holdings [Member] | Euphraxia Pharma Inc [Member]

Class of Stock [Line Items]

Stock shares issued as a percentage of outstanding shares

5%

AMDM Holdings [Member] | Euphraxia Pharma Inc [Member] | Chief Scientific Officer [Member] | Class B Non Voting Stock [Member]

Class of Stock [Line Items]

Stock issued during the period shares new issues | shares

225

Stock split ratio

2,500

Common stock shares issuable as a result of stock split | shares

562,500

Amended Plan [Member]

Class of Stock [Line Items]

Stock issued during the period shares exercise of stock options | shares

20,600

20,600

Share based compensation by share based award optinoss exercise din period weighted average exercise price | $ / shares

$ 2

Percentage of outstanding shares eligible for stock option issuance

18.50%

Amended Plan [Member] | Share-Based Payment Arrangement, Option [Member]

Class of Stock [Line Items]

Share based compensation by share based award aggregate term

10 years

Share based compensation by share based award vesting period

3 years

Allocated share based compensation

$ 1,412,257

$ 1,433,812

Share based compensation by share based award options unrecognized compensation

$ 961,535

Share based compensation by share based award options unrecognized compensation period for recognition

2 years 1 month 2 days

2 years 1 month 2 days

Amended Plan [Member] | Immediate Vesting [Member] | Share-Based Payment Arrangement, Option [Member]

Class of Stock [Line Items]

Share based compensation by share based award vesting percentage

25%

Amended Plan [Member] | Share-Based Payment Arrangement, Tranche One [Member] | Share-Based Payment Arrangement, Option [Member]

Class of Stock [Line Items]

Share based compensation by share based award vesting percentage

25%

Amended Plan [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | Share-Based Payment Arrangement, Option [Member]

Class of Stock [Line Items]

Share based compensation by share based award vesting percentage

25%

Amended Plan [Member] | Share-Based Payment Arrangement, Tranche Three [Member] | Share-Based Payment Arrangement, Option [Member]

Class of Stock [Line Items]

Share based compensation by share based award vesting percentage

25%

Private Placement [Member]

Class of Stock [Line Items]

Stock issued during the period shares new issues | shares

3,183,875

3,183,875

3,183,875

Stock issued during the period value new issues

$ 16,445,635

$ 15,886,537

$ 20,836,005

Sale of stock issue price per share | $ / shares

$ 7

Cash costs of issuing shares

$ 559,098

Stock issued during the period shares for services | shares

99,061

Stock issued during the period value for services

$ 511,681

Private Placement [Member] | Common Stock [Member]

Class of Stock [Line Items]

Stock issued during the period shares new issues | shares

3,282,936

3,282,936

Stock issued during the period value new issues

$ 15,886,537

Over-Allotment Option [Member]

Class of Stock [Line Items]

Number of units issued | shares

7,150,550

Securities issued, price per unit | $ / shares

$ 2.05

Number of warrant issued | shares

181,000

Warrant Issued, Price Per unit | $ / shares

$ 0.3

Proceeds from issuance of warrants

$ 11,768,459

Common stock conversion basis

Each unit consists of one common share and one common share purchase warrant.

Payments for underwriting expenses

$ 823,792

Percentage of gross proceeds raised under the Offering

7%

Share based compensation arrangement by share based payment award number of shares available for grant | shares

500,538

Percentage of total units and warrants issued in the Offering

7%

Legal fees

$ 68,470

Payments of stock issuance costs

239,620

Over-Allotment Option [Member] | Common Stock [Member]

Class of Stock [Line Items]

Class of warrants exercise price per share | $ / shares

$ 3

Proceeds from issuance of shares

9,309,707

Class of warrant or right number of securities called by each warrant or right | shares

1

Warrants and rights outstanding maturity date

Apr. 20, 2026

Warrants and rights outstanding term

48 months

Payments for underwriting expenses

660,605

Legal fees

54,839

Payments of stock issuance costs

192,824

Over-Allotment Option [Member] | Warrant [Member]

Class of Stock [Line Items]

Proceeds from issuance of warrants

2,458,752

Payments for underwriting expenses

163,187

Legal fees

13,631

Payments of stock issuance costs

$ 46,796

Compensation Warrant [Member] | Over-Allotment Option [Member] | Common Stock [Member]

Class of Stock [Line Items]

Class of warrants exercise price per share | $ / shares

$ 2.05

Excercise Of Warrants [Member]

Class of Stock [Line Items]

Stock issued during the period shares new issues | shares

2,385,484

2,385,484

200,000

Stock issued during the period value new issues

$ 5,241,811

$ 306,770

Class of warrants exercise price per share | $ / shares

$ 7.15

$ 4.18

Transferred from additional paid-in capital to share capital

$ 733,177

$ 44,893

Excercise Of Warrants [Member] | Common Stock [Member]

Class of Stock [Line Items]

Stock issued during the period shares new issues | shares

2,385,484

2,385,484

200,000

Stock issued during the period value new issues

$ 5,974,988

$ 351,663

Excercise Of Options [Member]

Class of Stock [Line Items]

Transferred from additional paid-in capital to share capital

$ 18,776

Share Capital and Other Compo_4

Share Capital and Other Components of Equity - Summary of Company's Option (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options, Exercised	(20,600)
Weighted average price, Exercised	$ 2
Amended Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options, Outstanding	3,306,450	2,134,250
Number of options, Granted	257,200	1,172,200
Number of options, Exercised	(20,600)
Number of options, Cancelled	(24,800)
Number of options, Outstanding	3,518,250	3,306,450
Weighted average price, Outstanding	$ 6.18	$ 7.83
Weighted average price, Granted	6.91	3.16
Weighted average price, Exercised	2
Weighted average price, Cancelled	3.73
Weighted average price, Outstanding	$ 6.27	$ 6.18

Share Capital and Other Compo_5

Share Capital and Other Components of Equity - Summary of Options Outstanding Along with the Grant Dates and Expiry Date (Detail) - Amended Plan [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Options Outstanding	3,518,250	3,306,450	2,134,250
Options Exercisable	2,537,296
Exercise Price	$ 6.27	$ 6.18	$ 7.83
Remaining Contractual Life	7 years 7 days
Sep 27, 2015 [Member]
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Grant Date	Sep. 27, 2015
Options Outstanding	186,250
Options Exercisable	186,250
Exercise Price	$ 8
Expiry Date	Mar. 31, 2025
Remaining Contractual Life	1 year 3 months
Nov 2, 2015 [Member]
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Grant Date	Nov. 02, 2015
Options Outstanding	95,000
Options Exercisable	95,000
Exercise Price	$ 8
Expiry Date	Nov. 02, 2025
Remaining Contractual Life	1 year 10 months 6 days
Mar 5, 2018 [Member]
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Grant Date	Mar. 05, 2018
Options Outstanding	452,250
Options Exercisable	452,250
Exercise Price	$ 8
Expiry Date	Mar. 05, 2028
Remaining Contractual Life	4 years 2 months 4 days
Mar 9, 2021 [Member]
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Grant Date	Mar. 09, 2021
Options Outstanding	756,950
Options Exercisable	567,713
Exercise Price	$ 8
Expiry Date	Mar. 09, 2031
Remaining Contractual Life	7 years 2 months 12 days
Mar 9, 2021 [Member]
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Grant Date	Mar. 09, 2021
Options Outstanding	326,800
Options Exercisable	326,800
Exercise Price	$ 8
Expiry Date	Mar. 09, 2031
Remaining Contractual Life	7 years 2 months 12 days
May 3, 2021 [Member]
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Grant Date	May 03, 2021
Options Outstanding	257,000
Options Exercisable	192,750
Exercise Price	$ 8
Expiry Date	May 03, 2031
Remaining Contractual Life	7 years 4 months 6 days
Dec 9, 2021 [Member]
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Grant Date	Dec. 09, 2021
Options Outstanding	60,000
Options Exercisable	57,500
Exercise Price	$ 2.02
Expiry Date	Dec. 09, 2031
Remaining Contractual Life	7 years 11 months 12 days
Mar 31, 2022 [Member]
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Grant Date	Mar. 31, 2022
Options Outstanding	392,500
Options Exercisable	186,750
Exercise Price	$ 1.9
Expiry Date	Mar. 31, 2032
Remaining Contractual Life	8 years 3 months 3 days
Dec 9, 2022 [Member]
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Grant Date	Dec. 09, 2022
Options Outstanding	734,300
Options Exercisable	407,983
Exercise Price	$ 3.85
Expiry Date	Dec. 09, 2032
Remaining Contractual Life	8 years 11 months 12 days
May 18, 2023 [Member]
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Grant Date	May 18, 2023
Options Outstanding	180,000
Options Exercisable	45,000
Exercise Price	$ 6.84
Expiry Date	May 18, 2033
Remaining Contractual Life	9 years 4 months 20 days
May 30, 2023 [Member]
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Grant Date	May 30, 2023
Options Outstanding	17,200
Options Exercisable	4,300
Exercise Price	$ 6.75
Expiry Date	May 30, 2033
Remaining Contractual Life	9 years 5 months 1 day
Sep 27, 2023 [Member]
Disclosure In Tabular Form Of Share Based Compensation Options Outstanding Along With The Grant Dates And Expiry Date [Line Items]
Grant Date	Sep. 27, 2023
Options Outstanding	60,000
Options Exercisable	15,000
Exercise Price	$ 7.16
Expiry Date	Sep. 27, 2033
Remaining Contractual Life	9 years 9 months

Share Capital and Other Compo_6

Share Capital and Other Components of Equity - Summary of Weighted-Average Assumptions (Detail) - Amended Plan [Member] - Share-Based Payment Arrangement, Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Expected dividend yield	0%	0%
Expected forfeiture rate	0%	0%
Weighted average annual volatility	79.60%	78.66%
Weighted average risk-free interest rate	3.54%	2.80%
Weighted average expected option life	5 years 9 months	5 years 8 months 12 days
Weighted average share price	$ 6.91	$ 3.16
Weighted average exercise price	6.91	3.16
Weighted average fair value of options granted	$ 4.78	$ 2.17

Share Capital and Other Compo_7

Share Capital and Other Components of Equity - Summary of Share Based Compensation Arrangements by Share Based Payment Warrant (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Share Based Compensation Arrangement By Share Based Payment Award Warrant [Line Items]
Number of warrants, Ending Balance	9,119,330
Weighted average exercise price, Ending Balance	$ 5.49
Warrants Granted as Part of Share Based Payment Arrangement [Member]
Schedule of Share Based Compensation Arrangement By Share Based Payment Award Warrant [Line Items]
Number of warrants, Beginning Balance	11,504,814	4,161,898
Number of warrants, Issued		7,832,088
Number of warrants, Expired		(289,172)
Number of warrants, Exercised	(2,385,484)	(200,000)
Number of warrants, Ending Balance	9,119,330	11,504,814
Weighted average exercise price, Beginning Balance	$ 4.95	$ 8.81
Weighted average exercise price, Issued		2.94
Weighted average exercise price, Expired		8
Weighted average exercise price, Exercised	2.9	2.05
Weighted average exercise price, Ending Balance	$ 5.49	$ 4.95

Share Capital and Other Compo_8

Share Capital and Other Components of Equity - Summary of Share Based Compensation of Share Warrants Outstanding (Detail)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Exercise price | $ / shares	$ 5.49
Warrants outstanding and exercisable | shares	9,119,330
Expiry Period One [Member]
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period	120 days
Exercise price | $ / shares	$ 0.7572
Warrants outstanding and exercisable | shares	243,421
Expiry Period Two [Member]
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period	120 days
Exercise price | $ / shares	$ 0.7572
Warrants outstanding and exercisable | shares	137,500
Expiry Period Three [Member]
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period	120 days
Exercise price | $ / shares	$ 0.4984
Warrants outstanding and exercisable | shares	315,500
Expiry Period Four [Member]
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date	Jan. 04, 2024
Exercise price | $ / shares	$ 5.5993
Remaining contractual life	3 days
Warrants outstanding and exercisable | shares	239,080
Expiry Period Five [Member]
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date	Jan. 04, 2024
Exercise price | $ / shares	$ 7.1991
Remaining contractual life	3 days
Warrants outstanding and exercisable | shares	39,846
Expiry Period Six [Member]
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date	Jan. 08, 2024
Exercise price | $ / shares	$ 5.5993
Remaining contractual life	7 days
Warrants outstanding and exercisable | shares	31,877
Expiry Period Seven [Member]
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date	Mar. 09, 2026
Exercise price | $ / shares	$ 11.2
Remaining contractual life	2 years 2 months 8 days
Warrants outstanding and exercisable | shares	2,826,274
Expiry Period Eight [Member]
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date	Apr. 20, 2026
Exercise price | $ / shares	$ 3
Remaining contractual life	2 years 3 months 18 days
Warrants outstanding and exercisable | shares	5,196,550
Expiry Period Nine [Member]
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date	Apr. 20, 2026
Exercise price | $ / shares	$ 2.05
Remaining contractual life	2 years 3 months 18 days
Warrants outstanding and exercisable | shares	50,054
Expiry Period Ten [Member]
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date	Apr. 29, 2026
Exercise price | $ / shares	$ 11.2
Remaining contractual life	2 years 3 months 29 days
Warrants outstanding and exercisable | shares	39,228

Share Capital and Other Compo_9

Share Capital and Other Components of Equity - Summary of Share Based Compensation of Share Warrants Outstanding (Parenthetical) (Detail) - Expiry Period Three [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Class of warrants or rights term	120 days
Warrants Granted as Part of Share Based Payment Arrangement [Member]
Schedule Of Share Based Compensation of Share Warrants Outstanding [Line Items]
Class of warrants or rights number of shares covered by warrants or rights | shares	315,500
Class of warrants or rights exercise price of warrants or rights | $ / shares	$ 0.75
Class of warrants or rights term	2 years

General And Administrative Ex_3

General And Administrative Expenses - Schedule Of General And Administrative Expenses (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
General and Administrative Expense [Abstract]
Office expenses	$ 389,210	$ 332,951
Insurance	367,472	357,763
Travel	345,992	120,115
Professional fees	2,821,798	268,698
Public company costs	404,073	214,264
Salaries and benefits	2,241,079	1,641,049
Share based payments (Note 12(c))	714,380	1,052,758
Total expenses during the period	$ 7,284,004	$ 3,987,598

Research And Development Expe_3

Research And Development Expenses - Schedule Of Research And Development Expenses (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Research And Development Expenses [Line Items]
Direct research and development	$ 11,539,926	$ 11,019,585
Pipeline development	83,637	227,615
Other research and development	672,295	424,628
Salaries and benefits	2,794,891	1,901,257
Share based payments (Note 12(c))	697,877	381,054
License costs (Note 10)	5,000,000	0
Government grants (Note 15)	(122,542)	(288,515)
SR&ED and other R&D tax incentives	(102,859)	(35,770)
Total expenses during the period	20,563,225	13,629,854
Preclinical [Member]
Research And Development Expenses [Line Items]
Direct research and development	1,616,238	1,073,668
Clinicall [Member]
Research And Development Expenses [Line Items]
Direct research and development	4,595,597	7,179,535
Manufacturing & analytical [Member]
Research And Development Expenses [Line Items]
Direct research and development	4,986,502	2,177,070
Regulatory [Member]
Research And Development Expenses [Line Items]
Direct research and development	341,589	588,652
Consulting [Member]
Research And Development Expenses [Line Items]
Direct research and development	$ 0	$ 660

Government Grants And Assista_3

Government Grants And Assistance - Additional Information (Detail) - USD ($)		12 Months Ended
	Oct. 01, 2021	Dec. 31, 2023	Dec. 31, 2022
Government Assistance [Line Items]
Government assistance, amount		$ 122,542	$ 288,515
Government grants			13,892
Government assistance amount for research and development		122,542	288,515
NRC-IRAP Specified Research And Development Funding Activities [Member]
Government Assistance [Line Items]
Percentage of reimburse assistance to support salary costs	80%
Percentage of reimburse assistance to support contractor fees	50%
Reimbursement assistance eligible maximum for salary and contractor costs	$ 553,185
Government assistance, amount		122,542	277,117
Government grants		$ 0	$ 13,892

Government Grants And Assista_4

Government Grants And Assistance - Shedule Of Government Grants And Assistance Received (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Government Assistance [Line Items]
Government Assistance Amount, Cumulative Current	$ 122,542	$ 288,515
NRC-IRAP Specified Research And Development Funding Activities [Member]
Government Assistance [Line Items]
Government Assistance Amount, Cumulative Current	122,542	277,117
Bio Talent Canada [Member]
Government Assistance [Line Items]
Government Assistance Amount, Cumulative Current	$ 0	$ 11,398

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components Included in Loss Before Taxes (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]
Canadian	$ (28,810,717)	$ (18,925,281)
Foreign	(118,866)	(65,483)
Net loss before tax expense	$ (28,929,583)	$ (18,990,764)

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Canadian
Current	$ 0	$ 0
Deferred	0	0
Total	0	0
Foreign
Canadian	36,423	0
Deferred	0	0
Total	36,423	0
Total
Canadian	36,423	0
Deferred	0	0
Income tax expense	$ 36,423	$ 0

Income Taxes - Schedule of Co_2

Income Taxes - Schedule of Components of Income Tax Expense Benefit (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Loss before taxes	$ (28,929,583)	$ (18,990,764)
Statutory Canadian corporate tax rate	27%	27%
Expected tax recovery at statutory rates	$ (7,810,987)	$ (5,127,506)
Difference resulting from:
Change in unrecognized deferred tax assets	9,523,404	5,127,732
Non-deductible share-based payments	381,285	414,724
Other items not deductible for tax purposes and other	242,460	11,570
Adjustments related to prior years	(624,973)	(257,636)
Share issue costs	(290,289)	(322,131)
Foreign exchange arising on translation to reporting currency	(1,384,477)	153,247
Income tax expense	$ 36,423	$ 0

Income Taxes - Schedule of Co_3

Income Taxes - Schedule of Components of Company's Net Deferred Income Tax Assets (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Components of Deferred Tax Assets and Liabilities [Abstract]
Convertible debt	$ 733,756	$ 360,307
Depreciable assets	3,092,163	1,655,346
Lease obligation	4,925	8,122
Non-capital losses	18,348,349	12,776,875
Share issue costs	728,046	694,773
Scientific research and experimental development pool	2,093,085	852,776
Tax credits	1,546,834	797,401
Other	121,846	0
Less: valuation allowance	(26,669,004)	(17,145,600)
Net deferred income tax assets	$ 0	$ 0

Income Taxes - Schedule of Non

Income Taxes - Schedule of Non Capital Losses Carry Forward Future Years (Detail)	Dec. 31, 2023 USD ($)
Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	$ 62,277,418
US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	3,552,359
Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	69,093
Tax Year 2031 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	281,235
Tax Year 2031 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax Year 2031 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax Year 2032 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	575,606
Tax Year 2032 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	322,050
Tax Year 2032 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2033 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	2,481,600
Tax year 2033 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	1,111,122
Tax year 2033 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2034 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	2,935,535
Tax year 2034 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	160,000
Tax year 2034 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2035 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	2,466,288
Tax year 2035 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	160,000
Tax year 2035 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2036 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	3,797,516
Tax year 2036 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	160,048
Tax year 2036 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2037 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	7,294,414
Tax year 2037 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	160,000
Tax year 2037 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2038 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	3,060,930
Tax year 2038 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2038 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2039 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	1,666,415
Tax year 2039 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2039 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2040 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	144,413
Tax year 2040 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2040 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2041 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	6,404,809
Tax year 2041 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2041 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2042 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	13,526,387
Tax year 2042 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax year 2042 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax Year 2043 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	17,642,270
Tax Year 2043 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax Year After 2043 [Member] | Canada
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	0
Tax Year After 2043 [Member] | US
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	1,479,139
Tax Year After 2043 [Member] | Australia
Non Capital Losses Carry Forward Future Years [Line Items]
Non-capital loss	$ 69,093

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	$ 0	$ 0
Unrecognized tax benefits income tax penalties accrued	0	0
Unrecognized tax benefits interest on income taxes accrued	0	$ 0
Canada Revenue Agency [Member] | Research and Development Expense [Member]
Operating Loss Carryforwards [Line Items]
Non capital loss carryforwards to future expire	7,752,165
Canadian Federal Investment Tax Credits [Member] | Canada Revenue Agency [Member]
Operating Loss Carryforwards [Line Items]
Tax credit carryforward, amount	$ 1,449,886
Tax credit carry forward expiration term	20 years
Provincial Investment Tax Credits [Member] | Canada Revenue Agency [Member]
Operating Loss Carryforwards [Line Items]
Tax credit carryforward, amount	$ 511,826
Tax credit carry forward expiration term	10 years

Commitments - Additional Inform

Commitments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023
Other Commitments [Line Items]
Cancellation of contracts that would lead to cancellation fee	no
Minimum [Member]
Other Commitments [Line Items]
Cancellation fee for termination of contract	15%
Maximum [Member]
Other Commitments [Line Items]
Cancellation fee for termination of contract	100%

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 USD ($)	Jun. 21, 2021 CAD ($)
Financial Instruments [Line Items]
Cash and cash equivalents	$ 19,341,756		$ 18,263,389
Current liabilities	19,373,903		3,058,387
Other loans payables current and non current	62,709		142,127
Cash on hand	19,341,756		10,830,891
Accounts payable current	1,292,128		1,814,067
Impact on profit loss due to change in exchange rates	542,102		79,627
Payable towards royalty and others current	$ 5,000,000		0
Equipment [Member]
Financial Instruments [Line Items]
Long term debt bearing fixed interest rate percentage	5.84%	5.84%
Convertible Debt [Member] | Canadian Prime Rate [Member]
Financial Instruments [Line Items]
Significant unobservable inputs percentage increase decrease in interest rate	1%	1%
Significant unobservable input impact of interest rate changes on profit or loss before tax	$ 43,807
Convertible Debt [Member] | Silicon Valley Bank [Member]
Financial Instruments [Line Items]
Convertible debt facility face value				$ 10,000,000
Convertible Debt [Member] | Silicon Valley Bank [Member] | Canadian Prime Rate [Member]
Financial Instruments [Line Items]
Long term debt paid in kind interest rate percentage	7%
Convertible Debt [Member] | Silicon Valley Bank [Member] | Canadian Prime Rate [Member] | Minimum [Member]
Financial Instruments [Line Items]
Long term debt variable interest rate percentage	2.45%	2.45%
Equipment Loan [Member]
Financial Instruments [Line Items]
Convertible debt facility face value	$ 235,000
Other loans payables current and non current	62,709
Currency Risk [Member]
Financial Instruments [Line Items]
Cash on hand	$ 933,816		$ 1,159,926
Canada, Dollars [Member]
Financial Instruments [Line Items]
Foreign exchange rate translation	1.3226	1.3226	1.3544
Percentage increase in significant unobservable inputs assets	10%	10%	10%
Percentage increase in significant unobservable inputs liabilities	10%	10%	10%
Canada, Dollars [Member] | Convertible Debt [Member]
Financial Instruments [Line Items]
Convertible debt facility face value		$ 10,000,000

Financial Instruments - Summary

Financial Instruments - Summary of Carrying Value of Financial Instruments at Amortized Cost (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Carrying Value Of Financial Instruments At Amortized Cost [Line Items]
Cash and cash equivalents	$ 19,341,756	$ 18,263,389
Amounts receivable	190,612	89,715
Accounts payable and accrued liabilities	3,921,875	2,928,566
Payable to Auritec	5,000,000	0
Loans payable	$ 62,709	$ 142,127

Financial Instruments - Summa_2

Financial Instruments - Summary of Changes in Fair Value of Liabilities Measured at Fair Value (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure In Tabular Form Of Movement In Convertible Debt At Fair Value [Line Items]
Change in fair value	$ 836,595	$ 1,056,165
Level 3 [Member]
Disclosure In Tabular Form Of Movement In Convertible Debt At Fair Value [Line Items]
Beginning Balance	8,741,996	7,507,755
Accrued interest	1,162,773	958,669
Interest paid	(591,170)	(315,436)
Change in fair value	836,595	1,056,165
Foreign exchange	185,809	(465,157)
Ending Balance	$ 10,336,003	$ 8,741,996

Interest Expense - Schedule of

Interest Expense - Schedule of Interest Expense (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Interest Expense [Abstract]
Interest on SVB debt facility (Note 11)	$ 1,162,773	$ 958,669
Other interest and accretion	7,400	24,187
Total	$ 1,170,173	$ 982,856

Supplemental Disclosure with _3

Supplemental Disclosure with Respect to Cash Flows - Additional Information (Detail) - USD ($)			12 Months Ended
	Aug. 18, 2023	Apr. 20, 2022	Dec. 31, 2023	Dec. 31, 2022
Interest Paid			$ 598,046	$ 326,629
Proceeds from Interest received			$ 912,033	$ 394,188
Warrants issued		500,538
Proceeds from issuance of warrants		$ 160,147
Common Stock [Member]
Shares, issued	99,061
Share capital	$ 511,678

Supplemental Disclosure with _4

Supplemental Disclosure with Respect to Cash Flows - Summary of Detailed Breakdown of Cash And Cash Equivalents (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash	$ 19,341,756	$ 10,830,891
Cash equivalents	0	7,432,498
Total	$ 19,341,756	$ 18,263,389

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail)			3 Months Ended	12 Months Ended
	Mar. 15, 2024 USD ($) shares	Mar. 15, 2024 CAD ($) $ / shares shares	Mar. 31, 2024 shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Apr. 20, 2022 $ / shares shares
Subsequent Event [Line Items]
Proceeds from issuance of common shares | $				$ 15,886,537	$ 10,636,577
Over-Allotment Option [Member]
Subsequent Event [Line Items]
Number of units issued						7,150,550
Securities issued, price per unit | $ / shares						$ 2.05
Subsequent Event [Member] | IPO [Member]
Subsequent Event [Line Items]
Proceeds from issuance of common shares	$ 25,026,073	$ 33,867,784
Stock issued during the period shares exercise of stock options			8,260,435
Number of units issued		8,260,435
Securities issued, price per unit | $ / shares		$ 4.1
Subsequent Event [Member] | Over-Allotment Option [Member]
Subsequent Event [Line Items]
Stock issued during the period shares exercise of stock options	943,435	943,435