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Mar 31, 2024
Essa Pharma Q2 2024 Earnings Report
Reported financial results for the fiscal second quarter.
Key Takeaways
ESSA Pharma reported its financial results for the second quarter of fiscal year 2024, highlighting progress in masofaniten combination studies and ongoing clinical development programs. The company's cash runway is expected to fund operations beyond 2025.
Masofaniten plus enzalutamide continues to be well tolerated with deep and durable reductions in PSA in Phase 1 dose escalation.
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 dose expansion is underway, evaluating masofaniten plus enzalutamide in patients with mCRPC.
Enrollment in Phase 2 is projected to complete in 1Q25, with preliminary data expected in mid-2025.
Forward Guidance
ESSA Pharma is focused on advancing its clinical programs and expects to report updated data from its studies. The company anticipates completing enrollment in the Phase 2 dose expansion study in the first quarter of 2025, with preliminary data expected in mid-2025.
Positive Outlook
- Plans to report updated data from its studies.
- Advancement and evaluation of masofaniten.
- Timing of the Company’s studies.
- Enrollment in the Company’s studies.
- Cash runway sufficient to fund operations beyond 2025
Challenges Ahead
- Risks related to obtaining positive results of clinical trials.
- Risks related to obtaining necessary regulatory approvals.
- General business, market and economic conditions.
- Uncertainties related to medical, scientific, business, economic, competitive, political and social factors.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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