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Dec 31, 2023
Essa Pharma Q1 2024 Earnings Report
Reported financial results for the fiscal first quarter ended December 31, 2023.
Key Takeaways
ESSA Pharma reported its financial results for the first quarter of fiscal year 2024. The company is focused on advancing masofaniten in combination with antiandrogen agents and is pleased with the data reported from the Phase 1 dose escalation study. ESSA expects its cash position will provide sufficient runway to fund planned operations through data readouts and beyond 2025.
Masofaniten plus enzalutamide continues to be well tolerated with deep and durable reductions in PSA in Phase 1 dose escalation in patients with mCRPC.
81% of patients achieved PSA90, 69% of patients achieved PSA90 in less than 90 days, and 63% of patients achieved PSA <0.2ng/mL.
Phase 2 masofaniten plus enzalutamide combination dose expansion study is ongoing.
Cash runway is sufficient to fund operations beyond 2025.
Essa Pharma
Essa Pharma
Forward Guidance
ESSA Pharma is focused on advancing the investigation of masofaniten in combination with second-generation antiandrogen agents, with the goal of improving clinical outcomes for patients battling prostate cancer. The company expects its cash position will provide sufficient runway to fund planned operations through data readouts and beyond 2025.
Positive Outlook
- Combination of masofaniten plus enzalutamide continues to be well tolerated.
- Deep and durable reductions in PSA were observed.
- Phase 2 masofaniten plus enzalutamide combination dose expansion study ongoing.
- Strong cash position to fund operations beyond 2025.
- Advancing enrollment in Phase 1 arms evaluating masofaniten in combination with apalutamide or abiraterone acetate.
Challenges Ahead
- Data for time to PSA progression are still maturing.
- The company is subject to various known and unknown risks and uncertainties.
- The company's actual results may be materially different from those expressed or implied in forward-looking statements.
- Forward-looking statements are based on management's beliefs, estimates and opinions, which are subject to change.
- Readers are cautioned against attributing undue certainty to forward-looking statements.