Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of ESSA Pharma Inc. regarding a class action lawsuit due to alleged misleading statements related to the efficacy of masofaniten in combination with enzalutamide for prostate cancer treatment [1][2]. Group 1: Allegations and Class Period - The class period for the allegations is from December 12, 2023, to October 31, 2024 [2]. - Allegations include that the defendants made materially false and misleading statements about masofaniten's efficacy and overstated its clinical and commercial prospects [2]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action by March 25, 2025, to potentially become lead plaintiffs [3]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case [3]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect investors' rights and seeks recovery for those who suffered losses due to deceitful practices by companies [4].

Financial Performance - ESSA reported a net loss of $8.5 million for Q1 2025, compared to a net loss of $6.0 million for Q1 2024, representing an increase of approximately 42%[3] - The total operating expenses for Q1 2025 were $9.7 million, compared to $7.6 million for Q1 2024, indicating a year-over-year increase of approximately 28%[12] - The company reported a basic and diluted loss per common share of $0.19 for Q1 2025, compared to $0.14 for Q1 2024[12] Research and Development - Research and Development (R&D) expenditures for Q1 2025 were $5.5 million, slightly up from $5.4 million in Q1 2024, with non-cash share-based payments increasing to $729,780 from $526,241[3] General and Administrative Expenses - General and Administration (G&A) expenditures rose significantly to $4.2 million in Q1 2025 from $2.2 million in Q1 2024, with non-cash share-based payments increasing to $1,972,151 from $277,177[3] Cash and Assets - As of December 31, 2024, ESSA had cash reserves and short-term investments of $120.6 million and net working capital of $118.8 million, with no long-term debt[9] - ESSA's total assets decreased to $122.6 million as of December 31, 2024, down from $128.1 million as of September 30, 2024[11] Strategic Options - The company is exploring strategic options including potential mergers, asset sales, or other business combinations to maximize shareholder value following the termination of clinical trials for masofaniten[2] - The company anticipates headcount and other cost reductions as part of its strategic review process[2] Shareholder Information - The weighted average number of common shares outstanding increased to 44,388,550 in Q1 2025 from 44,129,491 in Q1 2024[12]

Financial Performance - Net loss for the period increased to $8,531,931 for the three months ended December 31, 2024, compared to a net loss of $5,964,322 for the same period in 2023, reflecting a rise of approximately 42%[27] - Comprehensive loss for the three months ended December 31, 2024, was $8,531,931, compared to a loss of $5,964,322 for the same period in 2023, reflecting an increase of approximately 43%[213] - The company has never been profitable and expects to incur losses for the foreseeable future as it winds down clinical and preclinical development programs[213] Assets and Liabilities - Total assets decreased from $128,112,003 as of September 30, 2024, to $122,634,340 as of December 31, 2024, representing a decline of approximately 4.1%[26] - Total liabilities increased to $3,867,336 as of December 31, 2024, from $3,506,233 as of September 30, 2024, an increase of about 10.3%[26] - Cash and cash equivalents decreased from $103,709,537 at the beginning of the period to $93,310,889 by the end of the period, a reduction of about 10.5%[29] Expenses - Research and development expenses were $5,474,147 for the three months ended December 31, 2024, slightly up from $5,376,764 in the prior year, indicating a year-over-year increase of about 1.8%[27] - General and administration expenses surged to $4,210,719 in Q1 2024, compared to $2,217,868 in Q1 2023, marking an increase of approximately 89.9%[27] - Clinical costs increased to $3,248,718 in Q4 2024 from $1,827,247 in Q4 2023, marking an increase of approximately 78% due to expanded clinical trial activities[214] - Share-based payments increased significantly to $2,701,931 in Q1 2024 from $803,418 in Q1 2023, reflecting a rise of approximately 236%[30] - Share-based payments in general and administrative expenses increased to $1,972,151 in Q4 2024 from $277,177 in Q4 2023, reflecting a substantial rise in non-cash expenses[222] Clinical Trials and Research - The company has terminated its clinical trial of masofaniten, its primary molecule, and is currently evaluating its future operations[34] - The Company terminated its clinical trials for masofaniten (EPI-7386) based on interim review data showing a higher PSA90 response rate in patients treated with enzalutamide monotherapy compared to the combination therapy[82] - The decision to discontinue clinical trials was mutually agreed upon by senior management and the board of directors, indicating a strategic shift in focus[82] - The Company has decided to withdraw its Investigational New Drug application and related clinical trial applications for masofaniten[84] - The company has suspended enrollment in a clinical trial with Janssen due to operational recruitment challenges[128] - The company has terminated its preclinical development programs while exploring other potential clinical applications for NTD inhibitors[134] Strategic Review and Future Plans - The Company is undergoing a comprehensive review of strategic options to maximize shareholder value, which may include mergers, acquisitions, or other strategic transactions[79] - The company is reviewing strategic options, which may include mergers, asset sales, or seeking new product candidates for development[136] - The company is not currently engaged in any collaborations for clinical development and future plans depend on ongoing strategic evaluation[168] Market and Competitive Position - The prostate cancer market is significant, with an estimated 299,010 new cases in 2024 and 35,250 deaths expected[92] - Approximately 260,000 men with prostate cancer were treated in the U.S. in 2023 with systemic treatments who had not yet received a second-generation antiandrogen[92] - ESSA's competitive position is believed to be strong due to its unique approach to prostate cancer treatment targeting AR activation[167] Intellectual Property and Regulatory Compliance - ESSA has in-licensed intellectual property related to compounds that modulate AR activity, providing exclusive rights to develop and commercialize products based on this IP[175] - The company is required to pay up to C$2.4 million for the first drug product developed under the license and C$510,000 for each subsequent product[177] - The patent protection for masofaniten (EPI-7386) is expected to last until expiration dates ranging from 2036 to 2043[183] - Regulatory compliance is essential for the production and manufacture of future product candidates, subject to various governmental regulations[185] Shareholder and Financial Obligations - The Company has a maximum of 10,810,907 common shares reserved for issuance under the Omnibus Incentive Plan as of December 31, 2024[57] - The Company has $139,204 due to related parties, an increase from $98,360 as of September 30, 2024[68] - The company has not incurred any immediate financial obligations related to the termination of the clinical trial, indicating a potential for cost savings in the short term[34]

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of ESSA Pharma Inc. regarding a class action lawsuit due to alleged misleading statements related to the efficacy of masofaniten in combination with enzalutamide for prostate cancer treatment [1][2]. Group 1: Allegations and Class Period - The class period for the allegations is from December 12, 2023, to October 31, 2024 [2]. - Allegations include that the defendants failed to disclose that masofaniten combined with enzalutamide had no clear efficacy benefit over enzalutamide alone, leading to overstated clinical and commercial prospects [2]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action by March 25, 2025, to potentially become lead plaintiffs [3]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's progress [3]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect investors' rights against deceit and fraud, ensuring companies adhere to responsible business practices [4].

SAN DIEGO, Feb. 4, 2025 /PRNewswire/ -- Robbins LLP reminds investors that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired ESSA Pharma Inc. (NASDAQ: EPIX) securities between December 12, 2023 and October 31, 2024. ESSA is a clinical stage pharmaceutical company that focuses on the development of small molecule drugs for the treatment of prostate cancer. The Company's lead product candidate was masofaniten, which was in clinical trial in combination with en ...

NEW YORK, Feb. 3, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of ESSA Pharma Inc. (NASDAQ: EPIX).Shareholders who purchased shares of EPIX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/essa-pharma-inc-loss-submission-form/?id=126284&from=4 CLASS PERIOD: December 12, 2023 to ...

Core Viewpoint - A class action securities lawsuit has been filed against ESSA Pharma Inc. alleging securities fraud that affected investors between December 12, 2023, and October 31, 2024 [1][2]. Group 1: Lawsuit Details - The complaint claims that ESSA Pharma Inc. made false statements regarding the efficacy of masofaniten in combination with enzalutamide for treating prostate cancer, suggesting it had no clear benefit over enzalutamide alone [2]. - It is alleged that the M-E Combination Study was unlikely to meet its prespecified Phase 2 primary endpoint, contradicting the company's public statements about masofaniten's prospects [2]. - The lawsuit asserts that the defendants overstated masofaniten's clinical, regulatory, and commercial prospects, leading to materially false and misleading public statements [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until March 25, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, indicating no financial obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States [4]. - The firm has over 70 employees dedicated to serving clients in complex securities litigation, highlighting its extensive expertise in this area [4].

NEW YORK, Jan. 28, 2025 /PRNewswire/ --Why: Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers and acquirers of securities of ESSA Pharma Inc. (NASDAQ: EPIX) between December 12, 2023 and October 31, 2024, inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 25, 2025.So what: If you purchased ESSA Pharma Inc. securities during ...

Core Viewpoint - A class action has been filed against ESSA Pharma Inc. for allegedly misleading investors about the efficacy of its drug candidate masofaniten, particularly in its combination with enzalutamide for treating prostate cancer [1][2]. Group 1: Allegations and Findings - The complaint alleges that ESSA failed to disclose that masofaniten combined with enzalutamide showed no clear efficacy benefit over enzalutamide alone [2]. - It is claimed that the M-E Combination Study was unlikely to meet its prespecified Phase 2 primary endpoint, leading to an overstatement of masofaniten's clinical and commercial prospects [2]. - On October 31, 2024, ESSA announced the termination of Phase 2 of the M-E Combination Study, citing a higher rate of PSA90 response in patients treated with enzalutamide alone and no clear efficacy benefit from the combination [3]. Group 2: Market Impact - Following the announcement of the study termination, ESSA's stock price plummeted by $3.80 per share, a decrease of 73.08%, closing at $1.40 per share on November 1, 2024 [3]. Group 3: Class Action Participation - Investors may be eligible to participate in the class action against ESSA Pharma Inc., with options to serve as lead plaintiff or remain an absent class member [4]. - Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses [5].

Core Viewpoint - A class action lawsuit has been filed against ESSA Pharma Inc. for alleged violations of securities laws, specifically related to misleading statements about the efficacy of its drug masofaniten in combination with enzalutamide [1][4]. Group 1: Lawsuit Details - The lawsuit is based on claims that ESSA made false and misleading statements regarding the effectiveness of masofaniten when used with enzalutamide for treating prostate cancer [4]. - The class period for the lawsuit is defined as December 12, 2023, to October 31, 2024, during which investors are encouraged to participate if they suffered losses [2]. Group 2: Investor Information - Investors who purchased ESSA's securities during the class period are urged to contact the Schall Law Firm before March 25, 2025, to discuss their rights [2][3]. - The class has not yet been certified, meaning that until certification occurs, affected investors are not represented by an attorney [3].