ESSA Pharma (US:EPIX)2025-02-11 12:02Financial 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]