SOUTH SAN FRANCISCO, Calif and VANCOUVER, BC, Aug. 25, 2025 /PRNewswire/ -- ESSA Pharma Inc. ("ESSA," or the "Company") (NASDAQ: EPIX) announced on August 14, 2025 that, in connection with the Company's previously announced return of capital distribution in the aggregate amount of US$80,000,000 (the "Distribution") to the holders of common shares of the Company ("Common Shares" and the holders of such Common Shares, the "Shareholders") as part of the discontinuance and winding-up of the business of the Comp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents Suite 720, 999 West Broadway Vancouver, BC V5Z 1K5 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (778) 331-0962 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT O ...

SOUTH SAN FRANCISCO, Calif and VANCOUVER, Canada, Aug. 6, 2025 /PRNewswire/ -- ESSA Pharma Inc. ("ESSA," or the "Company") (NASDAQ: EPIX) today announced that, following the Company's receipt of an order from the Supreme Court of British Columbia (the "Court") on August 5, 2025, authorizing a reduction in the capital of the common shares of the Company (the "Common Shares" and the holders of such Common Shares, the "Shareholders") and concurrent distribution to the Shareholders, the board of directors of th ...

Core Viewpoint - ESSA Pharma Inc. is moving forward with a business combination agreement with XenoTherapeutics, intending to apply for court orders to facilitate a cash distribution to shareholders prior to the transaction's closing [1][2]. Group 1: Transaction Details - The business combination involves Xeno acquiring all issued and outstanding common shares of ESSA [1]. - ESSA plans to apply for an interim order to hold a special meeting for transaction approval and a distribution order for an initial cash distribution to shareholders [1][2]. - If authorized, each ESSA shareholder is estimated to receive approximately US$1.91 per common share, excluding any contingent value rights payments [2]. Group 2: Court Hearing Information - The hearing for the court orders is scheduled for August 5, 2025, at 9:45 a.m. Pacific time at the Supreme Court of British Columbia [3]. - Individuals affected by the orders may present evidence or arguments at the hearing [4]. Group 3: Filing and Response Requirements - ESSA intends to file its Petition Record on July 31, 2025, one business day before the hearing [5]. - Response materials must be submitted to ESSA's counsel by 1:00 p.m. on July 31, 2025, to be included in the Petition Record [5]. Group 4: Company Background - ESSA Pharma Inc. is a pharmaceutical company focused on developing novel therapies for prostate cancer treatment [6].

Mergers and Acquisitions - Monogram Technologies Inc. will be acquired by Zimmer Biomet Holdings, Inc. for $4.04 per share, totaling an equity value of approximately $177 million and an enterprise value of about $168 million. Shareholders may also receive a contingent value right worth up to $12.37 per share if certain milestones are met by 2030 [2] - Veritex Holdings, Inc. is set to be acquired by Huntington Bancshares Incorporated in a stock transaction where HBI will issue 1.95 shares for each Veritex share, implying a value of $33.91 per share and an aggregate transaction value of $1.9 billion [4] - ESSA Pharma Inc. will be acquired by XenoTherapeutics, Inc. for approximately $1.91 in cash per share, along with a contingent value right that could yield up to $0.06 per share within 18 months post-transaction [6] - Waters Corporation will merge with Becton, Dickinson and Company, with BD's shareholders expected to own about 39.2% and Waters' shareholders approximately 60.8% of the combined entity [8] Investigations - Investigations are ongoing regarding whether the boards of Monogram, Veritex, ESSA, and Waters breached their fiduciary duties by failing to conduct fair processes in their respective transactions and whether the deal considerations provide fair value to shareholders [2][4][6][8]

Company Overview - ESSA Pharma is focused on developing novel therapies for prostate and other androgen-driven cancers[7] - The company's lead candidate, EPI-7386, is a first-in-class oral, small molecule androgen receptor N-terminal domain inhibitor ("Aniten")[9, 28] - As of March 31, 2023, ESSA had $157 million in cash and short-term deposits, providing a runway through 2025[9, 69] EPI-7386 Monotherapy Development - Phase 1a study showed EPI-7386 was safe and well-tolerated, with tumor volume decreases observed in some patients[38] - ctDNA declines were observed in patients with AR mutations, amplifications, and truncations, suggesting activity against these tumors[38] - Phase 1b expansion study is underway to verify the recommended Phase 2 dose and gain further insight into EPI-7386's biological activity[40, 41] EPI-7386 Combination Therapy Development - ESSA is collaborating with multiple companies to evaluate EPI-7386 in combination with second-generation antiandrogens like enzalutamide, apalutamide, and darolutamide[49] - Initial data from the Phase 1/2 EPI-7386 + enzalutamide combination study showed rapid, deep, and durable PSA reductions[58] - In the combination study, 5 out of 6 patients achieved a PSA90, and 4 out of 6 patients achieved a PSA90 in 90 days and ultimately achieved a PSA < 02 ng/mL[58] Market and Opportunity - Prostate cancer is the 2nd most common cause of male cancer deaths, with an estimated 268,000 new cases and 34,500 deaths in 2022 in America[19] - Global sales of leading antiandrogens generated over $86 billion in 2021[19]

ESSA Pharma Q2 2025 Financial Report [Strategic Update](index=1&type=section&id=Strategic%20Update) ESSA Pharma is evaluating strategic options to maximize shareholder value after discontinuing clinical programs, while reducing costs - The company is evaluating a range of strategic options which may include a merger, amalgamation, take-over, business combination, asset sale or acquisition, shareholder distribution, wind-up, liquidation and dissolution[2](index=2&type=chunk) - The strategic review process is expected to involve continuing headcount and other cost reductions[2](index=2&type=chunk) - Management has indicated that productive steps have been taken towards a decision and an update is expected in the near future[2](index=2&type=chunk) [Summary of Financial Results](index=1&type=section&id=Summary%20of%20Financial%20Results) For Q2 2025, ESSA reported a net loss of **$6.4 million**, a significant improvement from the prior year, primarily due to reduced R&D expenditures Q2 Financial Performance | Metric | Q2 2025 (ended Mar 31) | Q2 2024 (ended Mar 31) | | :--- | :--- | :--- | | Net Loss | $6.4 million | $9.0 million | | R&D Expenditures | $3.5 million | $6.2 million | | G&A Expenditures | $3.9 million | $4.3 million | | Investment and other income | $1.0 million | $1.5 million | - The decrease in R&D expenses was primarily attributed to the wind-down of clinical trials and the cessation of preclinical work[3](index=3&type=chunk) [Liquidity and Outstanding Share Capital](index=2&type=section&id=Liquidity%20and%20Outstanding%20Share%20Capital) As of March 31, 2025, ESSA maintained a strong liquidity position with **$113.9 million** in cash and no long-term debt, with **44.4 million** common shares outstanding Liquidity and Capital Position | Metric | As of March 31, 2025 | | :--- | :--- | | Cash reserves and short-term investments | $113.9 million | | Net working capital | $113.5 million | | Long-term debt | None | | Common shares issued and outstanding | 44,388,550 | - An additional **2,920,000** common shares are issuable upon the exercise of prefunded warrants[8](index=8&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) This section presents the unaudited consolidated balance sheets and statements of operations, detailing the company's financial position and performance [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets were **$115.4 million**, a decrease from fiscal 2024, primarily due to reduced cash reserves Balance Sheet Summary | Account (in thousands USD) | March 31, 2025 | September 30, 2024 | | :--- | :--- | :--- | | Cash | $86,308 | $103,710 | | Total assets | $115,415 | $128,112 | | Current liabilities | $1,714 | $3,301 | | Shareholders' equity | $113,547 | $124,606 | | Total liabilities and shareholders' equity | $115,415 | $128,112 | [Consolidated Statements of Operations and Comprehensive Loss](index=5&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) For Q2 2025, the company reported a net loss of **$6.4 million** or **($0.14)** per share, an improvement from the prior year, with the six-month loss remaining stable Three Months Ended March 31 | Three Months Ended March 31 (in thousands USD) | 2025 | 2024 | | :--- | :--- | :--- | | Research and development | $3,484 | $6,178 | | General and administration | $3,897 | $4,316 | | Net loss for the period | ($6,374) | ($8,990) | | Basic and diluted loss per common share | ($0.14) | ($0.20) | Six Months Ended March 31 | Six Months Ended March 31 (in thousands USD) | 2025 | 2024 | | :--- | :--- | :--- | | Net loss for the period | ($14,907) | ($14,954) | | Basic and diluted loss per common share | ($0.34) | ($0.34) | [About ESSA Pharma Inc.](index=2&type=section&id=About%20ESSA%20Pharma%20Inc.) ESSA Pharma Inc. was previously focused on developing novel therapies for the treatment of prostate cancer - The company was previously focused on developing novel therapies for the treatment of prostate cancer[1](index=1&type=chunk)[5](index=5&type=chunk) [Forward-Looking Statement Disclaimer](index=2&type=section&id=Forward-Looking%20Statement%20Disclaimer) This report contains forward-looking statements regarding strategic alternatives and cost reductions, which are subject to significant risks and uncertainties - Forward-looking statements include information regarding the termination of clinical studies, the evaluation of strategic alternatives, and expected headcount and cost reductions[6](index=6&type=chunk) - These statements are subject to various known and unknown risks and uncertainties, and are based on a number of estimates and assumptions considered reasonable by management[7](index=7&type=chunk) - The company undertakes no obligation to update forward-looking statements except as required by law[9](index=9&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37410 ESSA Pharma Inc. (Exact name of registrant as specified in its charter) British Columbia, Canada 98-125 ...

Core Viewpoint - A class action lawsuit has been filed against ESSA Pharma Inc. for allegedly making false and misleading statements regarding its drug masofaniten in combination with enzalutamide, which did not demonstrate the expected efficacy in treating prostate cancer [1][4]. Group 1: Lawsuit Details - The lawsuit is based on violations of the Securities Exchange Act of 1934, specifically §§10(b) and 20(a), and Rule 10b-5 [1]. - Investors who purchased ESSA's securities between December 12, 2023, and October 31, 2024, are encouraged to participate in the class action [2]. - The class has not yet been certified, meaning potential participants are not currently represented by an attorney [3]. Group 2: Allegations Against ESSA - The complaint alleges that ESSA misled investors by claiming that masofaniten combined with enzalutamide was effective, while evidence suggested it was less effective than enzalutamide alone [4]. - The misleading statements led to investor damages once the true efficacy of the drug was revealed [4].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased securities of ESSA Pharma Inc. during the specified Class Period of the upcoming lead plaintiff deadline on March 25, 2025, for a class action lawsuit [1][2]. Group 1: Class Action Details - Investors who bought ESSA Pharma Inc. securities between December 12, 2023, and October 31, 2024, may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [1]. - A class action lawsuit has already been filed, and interested parties can join by submitting a form or contacting the law firm [2][5]. - The lead plaintiff must file a motion with the Court by March 25, 2025, to represent other class members in the litigation [2]. Group 2: Law Firm Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [3]. - The firm has achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time and has been ranked highly for its performance in this area since 2013 [3]. - In 2019, the firm secured over $438 million for investors, showcasing its capability in recovering funds for clients [3]. Group 3: Case Allegations - The lawsuit alleges that ESSA Pharma Inc. failed to disclose critical information regarding the efficacy of masofaniten in combination with enzalutamide, misleading investors about its effectiveness in treating prostate cancer [4]. - It is claimed that the M-E Combination Study was unlikely to meet its primary endpoint, leading to overstated clinical and commercial prospects for masofaniten [4]. - The public statements made by the defendants were deemed materially false and misleading, resulting in investor damages when the true information became public [4].