ESSA Pharma cuts shareholder payout in revised Xeno deal (EPIX:NASDAQ)

Core Insights - ESSA Pharma's stock dropped over 18% in premarket trading following a revision of its merger terms with XenoTherapeutics, which resulted in a lower expected payout for shareholders due to potential liabilities and updated cash estimates [1] Group 1 - The merger agreement has been amended, impacting the expected shareholder payout [1] - The revision was prompted by potential liabilities that could affect the financial outlook of the merger [1] - Updated cash estimates have also contributed to the changes in the merger terms [1]