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) announced a clinical trial support agreement with Janssen Research & Development to evaluate EPI-7386, a first-in-class N-terminal domain androgen receptor inhibitor, in combination with apalutamide and abiraterone acetate plus prednisone for prostate cancer treatment. The Phase 1 trial will assess safety, pharmacokinetics, and anti-tumor activity in metastatic castration-resistant prostate cancer (mCRPC) and high-risk metastatic castration-sensitive prostate cancer (mCSPC) patients. ESSA retains all rights to EPI-7386, which has received Fast Track designation from the FDA. Preliminary data indicate a favorable safety profile and early signs of anti-tumor activity.
Summit Therapeutics (SMMT) reported its financial results for the fourth quarter and year ending December 31, 2022. The company is progressing with its Collaboration and License Agreement with Akeso, acquiring rights to ivonescimab, a bispecific antibody for cancer treatment, for an upfront payment of $500 million. Key financials include a net loss of $78.8 million for the year, a significant decrease from $88.6 million in 2021. Summit raised $500 million in a Rights Offering to fund ongoing operations, with sufficient capital expected to cover expenses into late 2024. An earnings call is scheduled for March 9, 2023.
ESSA Pharma Inc. (NASDAQ: EPIX), a clinical-stage pharmaceutical company focused on prostate cancer therapies, announced its presentation at the Oppenheimer 33rd Annual Healthcare Conference on March 15, 2023, at 11:20 a.m. Eastern Time. The event will feature David R. Parkinson, President and CEO, along with COO Peter Virsik and CFO David S. Wood, who will also participate in one-on-one meetings. Investors can access a live webcast through ESSA's website, with an archived version available for 90 days post-event. ESSA aims to develop novel therapies to improve prostate cancer treatment outcomes.
On February 13, 2023, ESSA Pharma Inc. (NASDAQ: EPIX) announced that further analyses from two Phase 1 studies of EPI-7386 will be presented at the 2023 American Society of Clinical Oncology Genitourinary Cancers Symposium from February 16-19 in San Francisco. EPI-7386 is a novel androgen receptor inhibitor showing promising initial anti-tumor activity in metastatic castration-resistant prostate cancer (mCRPC). Early data indicates that the combination with enzalutamide has led to sustained declines in prostate-specific antigen (PSA) levels in patients. ESSA is preparing to enroll 120 patients in a Phase 2 study across the U.S., Canada, and Australia.
ESSA Pharma Inc. (NASDAQ: EPIX) reported a comprehensive loss of $6.7 million for the first quarter ended December 31, 2022, an improvement from $9.1 million in the same period of 2021. The company continues to advance its clinical studies of EPI-7386, a novel treatment for metastatic castration-resistant prostate cancer (mCRPC), with completion of the Phase 1 combination study with enzalutamide expected in 1H2023, followed by a Phase 2 study. As of December 31, 2022, ESSA maintained a solid cash position of $163.1 million, sufficient to fund operations through 2025.
ESSA Pharma Inc. (NASDAQ: EPIX) announced its participation in a fireside chat at the Guggenheim Healthcare Talks 5th Annual Oncology Conference on February 9, 2023, at 9:00 a.m. Eastern Time in New York City. Key executives, including President and CEO David R. Parkinson, will also hold one-on-one meetings. A live webcast of the presentation will be available on ESSA's website, with an archived replay accessible for 30 days after the event. ESSA focuses on developing novel therapies for prostate cancer, aiming to provide innovative treatment solutions for patients.
ESSA Pharma Inc. (EPIX) reported key corporate updates and financial results for the fiscal year ending September 30, 2022. The company achieved significant milestones with its lead candidate EPI-7386, showing initial anti-tumor activity in clinical trials for metastatic castration-resistant prostate cancer (mCRPC). ESSA recorded a net loss of $35.1 million, compared to $36.8 million in 2021, while R&D expenses remained consistent at $24.4 million. As of September 30, 2022, the company had a strong cash position of $167.2 million, expected to fund operations through 2025.
ESSA Pharma (NASDAQ: EPIX) announced its participation in two investor conferences, aimed at discussing its innovative prostate cancer therapies. The events include:
- Jefferies London Healthcare Conference: November 17, 2022, at 3:15 p.m. GMT.
- Piper Sandler 34th Annual Healthcare Conference: November 29, 2022, at 4:30 p.m. ET.
David R. Parkinson, CEO, along with other executives, will host one-on-one meetings. A live webcast of the Jefferies chat will be available on ESSA's website, archived for 90 days.
ESSA Pharma Inc. (NASDAQ: EPIX) reported on October 31, 2022, that Janssen Research and Development has suspended enrollment in the Phase 1 clinical study of EPI-7386 in advanced prostate cancer due to recruitment challenges. Despite this setback, three patients treated showed favorable safety and initial clinical activity, with two achieving a 90% reduction in PSA levels within 12 weeks. ESSA plans to continue discussions with Janssen for a potential combination study and retains global rights to EPI-7386, which has received FDA Fast Track designation.
ESSA Pharma Inc. (NASDAQ: EPIX) presented preclinical data for its first generation androgen receptor (AR) degrader, EPI-8207, at the 34th EORTC-NCI-AACR Annual Symposium in Barcelona. The data shows EPI-8207 effectively degrades AR, including splice variants and mutants associated with castration-resistant prostate cancer. This research highlights the potential of ANITAC in targeting AR signaling, a key driver in prostate cancer progression. The study indicates EPI-8207's high potency in inhibiting AR-dependent transcription, positioning ESSA for advancements in prostate cancer therapy.