ESSA Pharma Inc. ( (EPIX) ) has released its Q3 earnings. Here is a breakdown of the information ESSA Pharma Inc. presented to its investors.
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ESSA Pharma Inc., a biotechnology company based in Vancouver, Canada, specializes in developing small molecule drugs for prostate cancer treatment. The company is publicly traded on the Nasdaq Capital Market under the symbol EPIX.
In its latest quarterly earnings report for the period ending June 30, 2025, ESSA Pharma Inc. disclosed a net loss of $18.9 million, a decrease from the $22.2 million loss reported in the same period the previous year. The company’s cash and cash equivalents stood at $86 million, down from $104 million at the end of September 2024.
Key financial metrics from the report include a reduction in total operating expenses to $22 million from $26.7 million year-over-year, largely due to a decrease in research and development expenses. The company also reported a comprehensive loss of $18.9 million for the nine months ending June 30, 2025.
Looking ahead, ESSA Pharma Inc. is in the process of winding down its operations following the termination of its clinical trial for masofaniten (EPI-7386). The company has entered into a definitive agreement with XenoTherapeutics, Inc. for a business combination, which is expected to close in the second half of 2025. This strategic move is anticipated to provide liquidity to shareholders and potentially unlock additional value through contingent value rights.
Overall, ESSA Pharma Inc. is navigating a transitional phase, with management focusing on completing the business combination with XenoTherapeutics and ensuring a smooth wind-down of its current operations.