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 (NASDAQ: EPIX), a clinical-stage pharmaceutical company focused on prostate cancer therapies, reported its financial results for the second fiscal quarter ending March 31, 2024. Highlights include the promising Phase 1 data for masofaniten plus enzalutamide, showing a deep and durable reduction in PSA levels among mCRPC patients. Key achievements include 81% of patients achieving PSA90. ESSA forecasts the completion of Phase 2 enrollment by 1Q25, with preliminary data expected in mid-2025. Financially, ESSA experienced a net loss of $9.0 million, up from $7.1 million the previous year, due to increased R&D and G&A expenses. The company holds $135.9 million in cash reserves, enough to fund operations beyond 2025.
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