Welcome to our dedicated page for Essa Pharma news (Ticker: EPIX), a resource for investors and traders seeking the latest updates and insights on Essa Pharma stock.
This page provides an archive of news coverage for ESSA Pharma Inc. (former NASDAQ: EPIX), a pharmaceutical company that was previously focused on developing novel and proprietary therapies for patients with prostate cancer. The news items collected here document ESSA’s transition from a clinical-stage oncology-focused issuer to a company that discontinued and wound up its business in connection with an acquisition by XenoTherapeutics Inc.
According to ESSA’s press releases, the company entered into a Business Combination Agreement with XenoTherapeutics, a Massachusetts-based non-profit biotechnology organization, under which a wholly owned Xeno subsidiary acquired all of the issued and outstanding ESSA common shares. The news flow tracks key milestones in this process, including the announcement of the definitive agreement, applications to the Supreme Court of British Columbia for interim and distribution orders, and the scheduling and adjournment of special meetings of shareholders, optionholders and warrantholders.
Readers can review announcements related to ESSA’s US$80 million return of capital distribution, Nasdaq’s due bill trading mechanics for that distribution, subsequent clarifications about the due bill period, and updates on revised financial terms of the transaction. Later releases describe securityholder approval of the arrangement, court approval, and the closing of the acquisition, as well as ESSA’s request for delisting from Nasdaq.
For investors and researchers, this news archive offers detailed historical context on how ESSA managed its corporate transaction, cash distributions, and governance approvals leading up to its acquisition and delisting. It is useful for understanding the sequence of events that affected holders of EPIX shares and for examining how a publicly traded pharmaceutical issuer executed a court-supervised plan of arrangement and winding-up process.
ESSA Pharma Inc. (Nasdaq: EPIX) presented new preclinical data on EPI-7386, an androgen receptor inhibitor, at the 32nd EORTC-NCI-AACR Symposium. The findings show EPI-7386's interaction with both full-length and splice variant androgen receptors, indicating its superior effectiveness compared to enzalutamide in specific prostate cancer cell models. These insights strengthen the rationale for further studies of EPI-7386 in patients with prostate cancer resistant to current therapies. The company is conducting a Phase 1 study of EPI-7386 in metastatic castration-resistant prostate cancer.
ESSA Pharma Inc. (Nasdaq: EPIX) announced that multiple abstracts on its clinical candidate, EPI-7386, have been accepted for presentation at significant medical events. Notable presentations include the 27th Annual Prostate Cancer Foundation Scientific Retreat on October 20, and the 32nd EORTC-NCI-AACR Symposium on October 24, 2020. EPI-7386, a potent androgen receptor inhibitor, is in development for treating prostate cancer, particularly in patients resistant to existing therapies. The data presented may further characterize its preclinical profile and efficacy.
ESSA Pharma Inc. (Nasdaq: EPIX) announced its participation in the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 22, 2020, at 11:40 am Eastern. Dr. David R. Parkinson, CEO, will present a corporate overview, with key executives available for one-on-one meetings. The presentation will be webcast live, with a replay available for 90 days on ESSA's website. ESSA focuses on developing therapies for castration-resistant prostate cancer and recently filed an IND for EPI-7386.
ESSA Pharma Inc. (Nasdaq: EPIX) presented data on its clinical candidate, EPI-7386, at the ESMO Virtual Congress 2020. The study demonstrated that EPI-7386, a second-generation N-terminal domain androgen receptor inhibitor, provides superior inhibition of AR-associated activity when combined with existing therapies like enzalutamide, apalutamide, and darolutamide. These findings support further exploration of EPI-7386 in earlier lines of prostate cancer treatment. Currently, the company is conducting a Phase 1 study of EPI-7386 in patients with metastatic castration-resistant prostate cancer (mCRPC).
ESSA Pharma Inc. (NASDAQ: EPIX) announced that the FDA granted Fast Track Designation to EPI-7386, its oral androgen receptor inhibitor, for treating metastatic castration-resistant prostate cancer (mCRPC) resistant to standard treatments. This designation acknowledges the urgent need for effective therapies in mCRPC patients. It facilitates expedited development and review processes, including eligibility for accelerated approval and rolling review of the New Drug Application. The Phase 1 clinical trial for EPI-7386 is set to enroll 18 mCRPC patients, assessing its safety and anti-tumor efficacy.
ESSA Pharma Inc. (Nasdaq: EPIX; TSX-V: EPI) is set to present at the H.C. Wainwright 22nd Annual Global Investment Conference on September 16, 2020, and the Cantor Fitzgerald Global Healthcare Conference 2020 on September 17, 2020. CEO Dr. David R. Parkinson will provide a corporate overview and engage in a fireside chat. The presentations will be available for live streaming on their Investor Relations page and can be replayed for 90 days. ESSA focuses on novel therapies for prostate cancer, particularly for patients with castration-resistant prostate cancer.
ESSA Pharma Inc. (NASDAQ: EPIX) reported a net loss of $4.9 million for the fiscal third quarter ended June 30, 2020, compared to a $3.3 million loss in the same period in 2019. The increase in loss is attributed to higher R&D and G&A expenditures, including $1.5 million in non-cash share-based payments. The company completed a public offering raising $48.99 million to support ongoing clinical trials for EPI-7386, which commenced dosing the first patient in July. As of June 30, 2020, cash on hand was $36.5 million.
ESSA Pharma Inc. (Nasdaq: EPIX) announced the completion of a public offering of 7,100,000 common shares at a price of US$6.00 per share, raising approximately US$42.6 million. Following the exercise of an underwriters' option, the total proceeds reached US$45.0 million after expenses. The funds will support clinical and pre-clinical studies, particularly for EPI-7386, and further investments in the Company’s pipeline, ensuring cash resources through 2023. Major investors included Pfizer and several capital firms.
ESSA Pharma announced a public offering of 7,100,000 common shares at US$6.00 each, raising approximately US$42.6 million. After fees, the net proceeds are expected to be around US$39.0 million. Funds will be allocated to pre-clinical and clinical activities, manufacturing, research, and general corporate purposes. Jefferies leads the offering, with Oppenheimer & Co. and Bloom Burton Securities as co-managers. The offering is set to close around July 31, 2020, pending regulatory approvals from Nasdaq and TSX-V.
ESSA Pharma Inc. (Nasdaq: EPIX) has announced an underwritten public offering of its common shares. The company plans to utilize the proceeds for pre-clinical and clinical activities, R&D, and general corporate purposes. ESSA will grant underwriters a 30-day option to purchase an additional 15% of shares. The offering is contingent on market conditions and lacks guarantees on size or completion. Jefferies acts as the sole book-running manager, while Oppenheimer & Co. is the lead manager. The offering is subject to customary closing conditions and regulatory approvals.
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