ESSA Pharma (NASDAQ:EPIX) Stock

ESSA Pharma

ESSA Pharma Inc is a pharmaceutical company. The company was focused on the development of small-molecule drugs for the treatment of castration-resistant prostate cancer. It was developing drugs that selectively block the amino-terminal domain of the androgen receptor, potentially overcoming the known AR-dependent resistance mechanisms of CRPC and providing CRPC patients with the potential for increased progression-free and overall survival. Currently, the company has terminated its clinical trials and other studies.

ESSA Pharma Inc

WIIM

EPIX

ESSA Pharma shares are trading higher after disclosing that Soleus Capital Management has a 5.1% stake in the company. Soleus Capital has issued a letter to shareholders urging the winding down of operations and returning cash to shareholders.

April 15, 2025
Board of Directors
ESSA Pharma Inc.
999 West Broadway
Vancouver, British Columbia
Canada V5Z iK5
Dear Board of Directors:
As one of ESSA's largest shareholders, we have remained unwavering in our support of the Company over the past six years. When we made our initial investment in 2019, we were drawn to the Company's focus on scientific rigor and ambitious mission to develop novel therapies for patients with prostate cancer. We have been continuously impressed by the caliber of ESSA's management and Board. The Company has been exemplary stewards of investors' capital, efficiently executing clinical studies that answered key scientific questions.
Though we shared in the disappointment over last year's EPI-7386 results, we supported the Company's decision to halt clinical studies and pursue strategic alternatives. Its commitment to transparency and dedication to serving patients and shareholders alike stands as a benchmark for the entire industry.
Over the past three months, deterioration of the macroeconomic environment has placed an even greater premium on cash and liquidity for investors. The Company's share price, currently around $1.60, is significantly below its roughly $2.40 of cash per share. While we support management's thoughtful evaluation of various strategic paths, we now believe it is in shareholders' best interest for the Company to wind down operations and return remaining cash to shareholders, and we urge you to take action to do so.
Regards,
Soleus Capital Management, L.P.

News

Management

Soleus Capital Management Says "We Now Believe It Is In Shareholders' Best Interest For The Company To Wind Down Operations And Return Remaining Cash To Shareholders, And We Urge You To Take Action To Do So."

ESSA Pharma 13D Filing Shows SOLEUS CAPITAL MASTER FUND Reported A 5.1% Stake In The Co As Of April 15, 2025

ESSA Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>) reported quarterly losses of $(0.19) per share which missed the analyst consensus estimate of $(0.12) by 58.33 percent. This is a 35.71 percent decrease over losses of $(0.14) per share from the same period last year.

Earnings

Earnings Misses

ESSA Pharma Q1 2025 GAAP EPS $(0.19) Misses $(0.12) Estimate, Cash $120.6M

Earnings Beats

ESSA Pharma Q4 2024 GAAP EPS $(0.14) Beats $(0.21) Estimate, Cash Balance Of $103.71M

General

ESSA Pharma shares are trading lower after Oppenheimer downgraded the stock from Outperform to Perform. Piper Sandler downgraded its rating from Overweight to Neutral and cut its price target from $15 to $2.

Piper Sandler analyst Joseph Catanzaro downgrades ESSA Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>) from Overweight to Neutral and lowers the price target from $15 to $2.

Downgrades

Price Target

Analyst Ratings

Piper Sandler Downgrades ESSA Pharma to Neutral, Lowers Price Target to $2

Oppenheimer analyst Leland Gershell downgrades ESSA Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>) from Outperform to Perform.

Oppenheimer Downgrades ESSA Pharma to Perform

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 100 points on Friday.
The Dow traded up 0.67% to 42,043.38 while the NASDAQ surged 0.75% to 18,230.53. The S&amp;P 500 also rose, gaining, 0.47% to 5,732.21.
Check This Out: <a href="https://www.benzinga.com/news/24/10/41653495/top-2-real-estate-stocks-you-may-want-to-dump-this-quarter">Top 2 Real Estate Stocks You May Want To Dump This Quarter</a>
Leading and Lagging Sectors Consumer discretionary shares rose by 2.3% on Friday.
In trading on Friday, utilities shares fell by 2.1%.
Top Headline
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares fell around 2% on Friday after the company reported results for the fourth quarter.
The company reported fiscal fourth-quarter revenue of $94.9 billion, beating analyst estimates of $94.56 billion. The iPhone maker reported fourth-quarter adjusted earnings of $1.64 per share, beating analyst estimates of $1.60 per share.
<h3 class="wp-block-heading">Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>ChromaDex Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDXC#NASDAQ">CDXC</a>) shares shot up 53% to $5.34 after the company reported a year-over-year increase in third-quarter EPS results and raised its FY24 revenue guidance.</li>
<li>Shares of Proto Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRLB#NASDAQ">PRLB</a>) got a boost, surging 33% to $36.42 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter adjusted EPS guidance with its midpoint above estimates.</li>
<li>Interface, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>) shares were also up, gaining 33% to $23.23 after the company reported better-than-expected third-quarter financial results and raised its FY24 net sales guidance above estimates.</li>
</ul>
Equities Trading DOWN
<ul>
<li>ESSA Pharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>) shares dropped 71% to $1.51 after the company announced it terminated its Phase 2 study evaluating masofaniten combined with enzalutamide in patients with mCRPC.</li>
<li>Shares of Myriad Genetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYGN#NASDAQ">MYGN</a>) were down 21% to $17.30. Myriad Genetics will hold its third quarter earnings conference call on Thursday, Nov. 7.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) was down, falling 37% to $1.2250. Lexicon Pharmaceuticals announced the outcome of the FDA's Endocrinologic and Metabolic Drugs Advisory Committee Meeting to review the company's New Drug Application (NDA) for Zynquista (sotagliflozin). The company is seeking approval for the oral SGLT1/SGLT2 inhibitor as an adjunct to insulin therapy for glycemic control in adults with type 1 diabetes (T1D) and chronic kidney disease (CKD).</li>
</ul>
Commodities In commodity news, oil traded up 0.8% to $69.79 while gold traded down 0.1% at $2,745.60.
Silver traded down 0.7% to $32.555 on Friday, while copper rose 0.3% to $4.3520.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 1.09%, Germany's DAX gained 0.93% and France's CAC 40 gained 0.80%. Spain's IBEX 35 Index surged 1.46%, while London's FTSE 100 rose 0.83%.
Asia Pacific Markets
Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 falling 2.63%, Hong Kong's Hang Seng Index gaining 0.93%, China's Shanghai Composite Index declining 0.24% and India's BSE Sensex falling 0.27%.
Economics
<ul>
<li>The U.S. economy added 12,000 jobs in October compared to a revised 223,000 gain in September and versus market estimates of 113,000.</li>
<li>Average hourly earnings increased by 0.4% over a month to $35.46 in October, while unemployment rate came in unchanged at 4.1% in October.</li>
<li>U.S. construction spending increased by 0.1% month-over-month to an annual rate of $2,148.8 billion in September.</li>
<li>The S&amp;P Global Flash manufacturing PMI was revised upward to 48.5 in October versus a preliminary reading of 47.8.</li>
<li>The ISM manufacturing PMI declined to 46.5 in October versus 47.2 in the previous month and down from estimates of 47.6.</li>
<li>The total number of active U.S. oil rigs fell by one to 479 rigs this week, Baker Hughes Inc reported.</li>
</ul>
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</ul>

Equities

Eurozone

Commodities

Markets

Trading Ideas

AAPL

CDXC

LXRX

MYGN

PRLB

TILE

Crude Oil Moves Higher; Apple Shares Slide After Q4 Results

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 200 points on Friday.
The Dow traded up 1.18% to 42,254.81 while the NASDAQ surged 1.31% to 18,332.35. The S&amp;P 500 also rose, gaining, 0.95% to 5,759.63.
Check This Out: <a href="https://www.benzinga.com/news/24/10/41653495/top-2-real-estate-stocks-you-may-want-to-dump-this-quarter">Top 2 Real Estate Stocks You May Want To Dump This Quarter</a>
Leading and Lagging Sectors Consumer discretionary shares rose by 2.9% on Friday.
In trading on Friday, utilities shares fell by 1.1%.
Top Headline
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) shares surged 7% on Friday after the copany posted stronger-than-expected results for the third quarter.
Amazon reported third-quarter net sales of $158.9 billion, up 11% year-over-year. The total beat a Street consensus estimate of $157.2 billion, according to data from Benzinga Pro. The company said it sees fourth-quarter net sales to come in a range of $181.5 billion to $188.5 billion, up 7% to 11% year-over-year.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>ChromaDex Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDXC#NASDAQ">CDXC</a>) shares shot up 55% to $5.41 after the company reported a year-over-year increase in third-quarter EPS results and raised its FY24 revenue guidance.</li>
<li>Shares of Proto Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRLB#NASDAQ">PRLB</a>) got a boost, surging 31% to $36.54 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter adjusted EPS guidance with its midpoint above estimates.</li>
<li>Interface, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>) shares were also up, gaining 33% to $23.15 after the company reported better-than-expected third-quarter financial results and raised its FY24 net sales guidance above estimates.</li>
</ul>
Equities Trading DOWN
<ul>
<li>ESSA Pharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>) shares dropped 70% to $1.58 after the company announced it terminated its Phase 2 study evaluating masofaniten combined with enzalutamide in patients with mCRPC.</li>
<li>Shares of Myriad Genetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYGN#NASDAQ">MYGN</a>) were down 21% to $17.24. Myriad Genetics will hold its third quarter earnings conference call on Thursday, Nov. 7.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) was down, falling 36% to $1.2550. Lexicon Pharmaceuticals announced the outcome of the FDA's Endocrinologic and Metabolic Drugs Advisory Committee Meeting to review the company's New Drug Application (NDA) for Zynquista (sotagliflozin). The company is seeking approval for the oral SGLT1/SGLT2 inhibitor as an adjunct to insulin therapy for glycemic control in adults with type 1 diabetes (T1D) and chronic kidney disease (CKD).</li>
</ul>
Commodities In commodity news, oil traded up 1.1% to $70.04 while gold traded up 0.2% at $2,753.70.
Silver traded down 0.1% to $32.755 on Friday, while copper rose 0.5% to $4.3635.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 1.25%, Germany's DAX gained 1.10% and France's CAC 40 gained 1.05%. Spain's IBEX 35 Index surged 1.42%, while London's FTSE 100 rose 1.06%.
Asia Pacific Markets
Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 falling 2.63%, Hong Kong's Hang Seng Index gaining 0.93%, China's Shanghai Composite Index declining 0.24% and India's BSE Sensex falling 0.27%.
Economics
<ul>
<li>The U.S. economy added 12,000 jobs in October compared to a revised 223,000 gain in September and versus market estimates of 113,000.</li>
<li>Average hourly earnings increased by 0.4% over a month to $35.46 in October, while unemployment rate came in unchanged at 4.1% in October.</li>
<li>U.S. construction spending increased by 0.1% month-over-month to an annual rate of $2,148.8 billion in September.</li>
<li>The S&amp;P Global Flash manufacturing PMI was revised upward to 48.5 in October versus a preliminary reading of 47.8.</li>
<li>The ISM manufacturing PMI declined to 46.5 in October versus 47.2 in the previous month and down from estimates of 47.6.</li>
</ul>
Now Read This: 
<ul>
<li><a href="Top%202%20Utilities%20Stocks%20That%20May%20Crash%20This%20Quarter">Top 2 Utilities Stocks That May Crash This Quarter</a></li>
</ul>

AMZN

Nasdaq Surges Over 200 Points; Amazon Shares Jump After Strong Results

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 400 points on Friday.
The Dow traded up 1% to 42,182.88 while the NASDAQ surged 1.18% to 18,309.37. The S&amp;P 500 also rose, gaining, 0.98% to 5,761.25.
Check This Out: <a href="https://www.benzinga.com/news/24/10/41653495/top-2-real-estate-stocks-you-may-want-to-dump-this-quarter">Top 2 Real Estate Stocks You May Want To Dump This Quarter</a>
Leading and Lagging Sectors Consumer discretionary shares rose by 3.1% on Friday.
In trading on Friday, utilities shares fell by 0.1%.
Top Headline
The U.S. economy added 12,000 jobs in October compared to a revised 223,000 gain in September and versus market estimates of 113,000.
Average hourly earnings increased by 0.4% over a month to $35.46 in October, while unemployment rate came in unchanged at 4.1% in October.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>ChromaDex Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDXC#NASDAQ">CDXC</a>) shares shot up 55% to $5.38 after the company reported a year-over-year increase in third-quarter EPS results and raised its FY24 revenue guidance.</li>
<li>Shares of Proto Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRLB#NASDAQ">PRLB</a>) got a boost, surging 33% to $36.54 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter adjusted EPS guidance with its midpoint above estimates.</li>
<li>Interface, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>) shares were also up, gaining 32% to $23.04 after the company reported better-than-expected third-quarter financial results and raised its FY24 net sales guidance above estimates.</li>
</ul>
Equities Trading DOWN
<ul>
<li>ESSA Pharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>) shares dropped 70% to $1.5450 after the company announced it terminated its Phase 2 study evaluating masofaniten combined with enzalutamide in patients with mCRPC.</li>
<li>Shares of Elevai Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELAB#NASDAQ">ELAB</a>) were down 45% to $0.0325.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) was down, falling 34% to $1.2790. Lexicon Pharmaceuticals announced the outcome of the FDA's Endocrinologic and Metabolic Drugs Advisory Committee Meeting to review the company's New Drug Application (NDA) for Zynquista (sotagliflozin). The company is seeking approval for the oral SGLT1/SGLT2 inhibitor as an adjunct to insulin therapy for glycemic control in adults with type 1 diabetes (T1D) and chronic kidney disease (CKD).</li>
</ul>
Commodities In commodity news, oil traded up 1.5% to $70.39 while gold traded up 0.4% at $2,761.30.
Silver traded up 0.3% to $32.890 on Friday, while copper rose 0.4% to $4.3575.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 1%, Germany's DAX gained 0.8% and France's CAC 40 gained 0.7%. Spain's IBEX 35 Index surged 1.2%, while London's FTSE 100 rose 0.8%.
Asia Pacific Markets
Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 falling 2.63%, Hong Kong's Hang Seng Index gaining 0.93%, China's Shanghai Composite Index declining 0.24% and India's BSE Sensex falling 0.27%.
Economics
<ul>
<li>The U.S. economy added 12,000 jobs in October compared to a revised 223,000 gain in September and versus market estimates of 113,000.</li>
<li>Average hourly earnings increased by 0.4% over a month to $35.46 in October, while unemployment rate came in unchanged at 4.1% in October.</li>
<li>U.S. construction spending increased by 0.1% month-over-month to an annual rate of $2,148.8 billion in September.</li>
<li>The S&amp;P Global Flash manufacturing PMI was revised upward to 48.5 in October versus a preliminary reading of 47.8.</li>
<li>The ISM manufacturing PMI declined to 46.5 in October versus 47.2 in the previous month and down from estimates of 47.6.</li>
</ul>
Now Read This: 
<ul>
<li><a href="Top%202%20Utilities%20Stocks%20That%20May%20Crash%20This%20Quarter">Top 2 Utilities Stocks That May Crash This Quarter</a></li>
</ul>

ELAB

Dow Jumps 400 Points; US Adds 12,000 Jobs In October

On Thursday, ESSA Pharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>) announced its plans to terminate the Phase 2 trial of masofaniten combined with enzalutamide versus enzalutamide single agent in patients with metastatic castration-resistant prostate cancer (mCRPC) naïve to <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41669391/essa-pharma-announces-termination-of-phase-2-study-evaluating-masofaniten-combined-with-enzalutami" rel="noreferrer noopener">second-generation antiandrogens</a>.
This decision was based on a protocol-specified interim review of the safety, PK, and efficacy data, which showed a much higher rate of PSA90 response in patients treated with Pfizer Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) Xtandi (enzalutamide) monotherapy (which is the standard of care for this patient population) than expected based on historical data.
In addition, there was no clear efficacy benefit seen with the combination of masofaniten plus enzalutamide compared to enzalutamide single agent.
A futility analysis determined a low likelihood of meeting the prespecified primary endpoint of the study.
The combination of masofaniten plus enzalutamide was well-tolerated with no new safety signals and a safety profile similar to that seen in Phase 1 studies.
&#8220;We made the difficult decision to terminate this Phase 2 study following the interim analysis because we concluded that the emerging efficacy profile of masofaniten combined with enzalutamide would not likely meet the primary endpoint of the study, nor our internal requirements for a prostate cancer therapy candidate,&#8221; said&nbsp;David Parkinson, President, and CEO.
As part of the effort to focus its resources, ESSA is also planning to terminate the other remaining company-sponsored and investigator-sponsored clinical studies evaluating masofaniten either as a monotherapy or in combination <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40862721/essa-pharma-presents-updated-phase-12-masofaniten-epi-7386-clinical-data-at-the-2024-esmo-congress" rel="noreferrer noopener">with other agents</a>.
As of&nbsp;September 30, 2024, the company had available cash reserves and short-term investments of&nbsp;$126.8 million&nbsp;and net working capital of&nbsp;$124.3 million.
In September, ESSA Pharma announced the presentation of updated dose escalation data from its Phase 1/2 study of masofaniten (formerly EPI-7386) in combination with enzalutamide at the 2024 European Society for Medical Oncology (ESMO) Congress.
Across all dose cohorts, 88% of patients (14 of 16) achieved PSA50, 88% of patients (14 of 16) achieved PSA90, 69% of patients (11 of 16) achieved PSA90 in less than 90 days, and 63% of patients (10 of 16) achieved PSA &lt;0.2ng/mL.
Price Action: EPIX stock was down 69.80% at $1.57 during the premarket session at the last check on Friday.
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Biotech

Health Care

Movers

Cancer-Focused ESSA Pharma Ends Prostate Cancer Trial Due to Insufficient Efficacy From Combination Therapy

Shares of Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) rose sharply in today's pre-market trading after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/11/41684534/charter-communications-beats-q3-estimates-on-strong-mobile-growth-expanding-margins">third-quarter EPS and revenues.</a>
Charter Communications reported fiscal third-quarter 2024 revenue growth of 1.6% year-on-year to $13.8 billion, beating the analyst consensus estimate of $13.7 billion. EPS of $8.82 beat the analyst consensus estimate of $8.67
Charter Communications shares rose 11.1% to $364.01 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Globalstar, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>) gained 41.9% to $1.49 in pre-market trading after the company announced a proposed public offering.</li>
<li>Theriva Biologics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOVX#NYSE">TOVX</a>) rose 41.1% to $2.06 in pre-market trading after the company announced it was selected as a finalist for Merck KGaA&#8217;s EMEA Advance Biotech Grant.</li>
<li>Athira Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATHA#NASDAQ">ATHA</a>) shares surged 31.1% to $0.5610 in pre-market trading.</li>
<li>VS MEDIA Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSME#NASDAQ">VSME</a>) climbed 30% to $1.43 in pre-market trading after declining 11% on Thursday.</li>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) gained 22.5% to $231.06 in pre-market trading after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates.</li>
<li>Nuburu, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURU#NYSE">BURU</a>) gained 18.6% to $0.5340 in pre-market trading.</li>
<li>Proto Labs, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRLB#NYSE">PRLB</a>) gained 18.3% to $32.43 in pre-market trading after the company reported better-than-expected third-quarter financial results and issued fourth-quarter adjusted EPS guidance with its midpoint above estimates.</li>
<li>comScore, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCOR#NASDAQ">SCOR</a>) shares rose 17.3% to $6.45 in pre-market trading.</li>
<li>Halozyme Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HALO#NASDAQ">HALO</a>) gained 12.8% to $57.04 in pre-market trading after the company reported better-than-expected third-quarter financial results and issued FY24 adjusted EPS guidance above estimates.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>ESSA Pharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>) shares dipped 69.2% to $1.60 in pre-market trading. ESSA Pharma terminated Phase 2 study evaluating Masofaniten combined with Enzalutamide in patients with mCRPC.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) fell 37.4% to $1.2207 in pre-market trading.</li>
<li>Elevai Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELAB#NASDAQ">ELAB</a>) fell 35% to $0.0383 in pre-market trading.</li>
<li>MultiMetaVerse Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMV#NASDAQ">MMV</a>) declined 24.1% to $0.3331 in pre-market trading.</li>
<li>Arbe Robotics Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBE#NASDAQ">ARBE</a>) declined 18.7% to $1.4800 in pre-market trading after the company announced a public offering.</li>
<li>Advent Technologies Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADN#NYSE">ADN</a>) fell 15.8% to $1.9899 in pre-market trading after jumping around 34% on Thursday.</li>
<li>ASP Isotopes Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASPI#NASDAQ">ASPI</a>) fell 8.4% to $6.40 in pre-market trading after the company announced a proposed public offering.</li>
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Jones Trading analyst Soumit Roy downgrades ESSA Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>) from Buy to Hold.

Jones Trading Downgrades ESSA Pharma to Hold

ESSA Pharma shares are trading lower after the company announced it terminated its Phase 2 study evaluating masofaniten combined with enzalutamide in patients with mCRPC

Efficacy signals observed will not achieve ESSA's target product profile in patients with metastatic castration-resistant prostate cancer naïve to second-generation antiandrogens
&nbsp;A futility analysis conducted as part of a protocol-specified interim review of the safety, PK and efficacy data showed the single-agent enzalutamide control arm performing better than historical controls and similar to the combination of masofaniten and enzalutamide and therefore, unlikely to achieve the primary endpoint of the study&nbsp;
Additional clinical studies with masofaniten including the combination study with abiraterone acetate and apalutamide as well as the remaining investigator sponsored trials will also be terminated and the IND and CTAs in different geographies will be withdrawn
Company will initiate a process to explore and review strategic options focused on maximizing shareholder value

Reported Earlier, ESSA Pharma Terminates Phase 2 Study Evaluating Masofaniten Combined With Enzalutamide In Patients With mCRPC

ESSA Pharma shares are trading higher after the company announced it presented data on prostate cancer therapy Masofaniten at ESMO 2024.

ESSA Pharma Inc. ("ESSA", or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>), a clinical-stage pharmaceutical company focused on developing novel therapies for the treatment of prostate cancer, today announced the presentation of updated dose escalation data from its Phase 1/2 study evaluating masofaniten (formerly EPI-7386) in combination with enzalutamide at the 2024 European Society for Medical Oncology (ESMO) Congress, taking place September 13-17, 2024, in Barcelona, Spain. Masofaniten is a first-in-class N-terminal domain androgen receptor ("AR") inhibitor that suppresses androgen activity through a novel mechanism of action and is being developed for the treatment of prostate cancer. The poster presentation is available on the "Publications" section of the Company's website at&nbsp;www.essapharma.com.
"We are pleased to be sharing more mature data from the Phase 1 dose escalation study evaluating masofaniten in combination with enzalutamide today at ESMO 2024. The combination continues to be well tolerated with prolonged reductions in circulating prostate-specific antigen ("PSA") levels in patients with metastatic castration-resistant prostate cancer ("mCRPC"). After 15.2 months of follow up, neither median time to PSA progression nor radiographic progression free survival have been reached. These data compare favorably to historical data for single agent enzalutamide treatment in the mCRPC patient population," said David Parkinson, MD, President and CEO of ESSA. "We continue to focus on the enrollment of the Phase 2 dose expansion study evaluating masofaniten in combination with enzalutamide, with 33 sites activated in the US,&nbsp;Canada&nbsp;and&nbsp;Australia&nbsp;and an additional 22 sites anticipated in&nbsp;Europe. We look forward to providing further updates in 2025."
Poster presentation details:
&nbsp;
Title:&nbsp;Phase 1/2 trial of oral EPI-7386 (masofaniten) in combination with enzalutamide (Enz) compared with Enz alone in subjects with metastatic castration-resistant prostate cancer (mCRPC): Phase 1 results and Phase 2 design
Presenting Author:&nbsp;Christos Kyriakopoulos, MD, University of Wisconsin-Madison Carbone Cancer Center
Presentation #: 1641P Date and time: Sunday, September 15, 2024; 12:00-1:30 p.m. CEST/ 6:00-7:30 a.m. ET

Prior Reported, ESSA Pharma Presents Data on Prostate Cancer Therapy Masofaniten at ESMO 2024, Shows Prolonged PSA Reduction

Oppenheimer analyst Leland Gershell maintains ESSA Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>) with a Outperform and maintains $17 price target.

Oppenheimer Maintains Outperform on ESSA Pharma, Maintains $17 Price Target

ESSA Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>) reported its Q1 earnings results on Tuesday, February 13, 2024 at 07:00 AM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
ESSA Pharma beat estimated earnings by 17.65%, reporting an EPS of $-0.14 versus an estimate of $-0.17.
Revenue was down $0 from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.09 which was followed by a 0.36% increase in the share price the next day.

&#x2A;&#x2A; Listen to the earnings announcement yourself by <a href="">clicking here</a>. &#x2A;&#x2A;
To track all earnings releases for ESSA Pharma <a href="https://www.benzinga.com/quote/EPIX/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ESSA Pharma: Q1 Earnings Insights

Press Releases

SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of ESSA Pharma

EPIX Deadline: EPIX Investors Have Opportunity to Lead ESSA Pharma Inc. Securities Fraud Lawsuit

Legal

EPIX IMPORTANT DEADLINE: ROSEN, LEADING INVESTOR COUNSEL, Encourages ESSA Pharma Inc. Investors to Secure Counsel Before Important March 25 Deadline in Securities Class Action - EPIX

EPIX INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that ESSA Pharma Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

ESSA Pharma Inc. Securities Fraud Class Action Lawsuit Pending: Contact Levi & Korsinsky Before March 25, 2025 to Discuss Your Rights – EPIX

The Gross Law Firm Reminds ESSA Pharma Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of March 25, 2025 - EPIX

ONGOING DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of ESSA Pharma

ESSA Pharma Inc. Investors: Please contact the Portnoy Law Firm to recover your losses; March 25, 2025 Deadline to file Lead Plaintiff Motion

EPIX Deadline Today: Rosen Law Firm Urges ESSA Pharma Inc. (NASDAQ: EPIX) Stockholders with Large Losses to Contact the Firm for Information About Their Rights

ESSA Pharma Inc. Class Action: Levi & Korsinsky Reminds ESSA Pharma Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of March 25, 2025 - EPIX

Piper Sandler

Oppenheimer

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