Essa Pharma downgraded to Perform from Outperform at Oppenheimer

Oppenheimer analyst Leland Gershell downgraded Essa Pharma (EPIX) to Perform from Outperform without a price target The company announced that it will discontinue all masofaniten development following a prespecified futility analysis that showed that this candidate failed to meet the target efficacy profile in the Phase 2 enzalutamide combo study, the analyst tells investors in a research note. The firm awaits details as Essa moves to a strategic process in which it will explore options that can maximize shareholder value.