Piper Sandler analyst Joseph Catanzaro downgraded Essa Pharma (EPIX) to Neutral from Overweight with a price target of $2, down from $15. The company announced the discontinuation of masofaniten’s randomized Phase II trial in combination with enzalutamide in anti-androgen naive metastatic castration-resistant prostate cancer following an interim analysis that suggested the trial was unlikely to meet the primary endpoint, the analyst tells investors in a research note. With all other masofaniten studies are also being discontinued with the company evaluating all potential strategic options, Piper removed all value for masofaniten and downgraded the shares.
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Read More on EPIX:
- Essa Pharma downgraded to Perform from Outperform at Oppenheimer
- Essa Pharma downgraded to Hold from Buy at Jefferies
- Essa Pharma downgraded to Hold from Buy at JonesResearch
- Essa Pharma terminates Phase 2 study of masofaniten combo in mCRPC
- Essa Pharma presents updated updated Phase 1/2 masofaniten data at ESMO
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