EPIX Shareholders Have an Opportunity to Lead the Class Action Against ESSA Pharma Inc. – Contact Shareholder Rights Law Firm Robbins LLP for Information

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]. Company Overview - ESSA Pharma Inc. is a clinical stage pharmaceutical company focused on developing small molecule drugs for prostate cancer treatment [1]. - The lead product candidate is masofaniten, which was being tested in combination with enzalutamide in a clinical trial for metastatic castration-resistant prostate cancer (CRPC) [1]. Allegations - The complaint alleges that ESSA failed to disclose that: - Masofaniten combined with enzalutamide showed no clear efficacy benefit over enzalutamide alone [2]. - The combination was less effective in treating prostate cancer than previously indicated [2]. - The M-E Combination Study was unlikely to meet its prespecified Phase 2 primary endpoint [2]. - The company overstated masofaniten's clinical, regulatory, and commercial prospects [2]. Recent Developments - On October 31, 2024, ESSA announced the termination of Phase 2 of the M-E Combination Study, citing an interim review that indicated a higher rate of PSA90 response in patients treated with enzalutamide alone compared to the combination [3]. - The company noted that a futility analysis showed a low likelihood of meeting the study's primary endpoint and planned to terminate other clinical studies involving masofaniten [3]. - Following this announcement, ESSA's stock price dropped by $3.80 per share, or 73.08%, closing at $1.40 per share on November 1, 2024 [3].