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Sep 30, 2020
Essa Pharma Q4 2020 Earnings Report
ESSA Pharma reported financial results for the fiscal fourth quarter and year ended September 30, 2020.
Key Takeaways
ESSA Pharma reported its financial results for the fiscal year ended September 30, 2020. The company had cash reserves and short-term investments of $78,332,100 as of September 30, 2020, which includes $48.9 million raised in a public offering in July.
Made significant progress towards the development of EPI-7386.
Initiated a Phase 1 monotherapy dose escalation clinical study with EPI-7386 in July.
Well-positioned financially to advance the development of EPI-7386 with $48.9 million raised in a public offering.
Planning to initiate one or more combination studies with approved anti-androgen treatments.
Essa Pharma
Essa Pharma
Forward Guidance
The company is focused on advancing the clinical development of EPI-7386 and initiating combination studies with approved anti-androgen treatments.
Positive Outlook
- Advancing the development of EPI-7386 in the current Phase 1 study
- Initiating one or more combination studies with approved anti-androgen treatments
- Obtaining positive results of clinical trials
- Obtaining necessary regulatory approvals
- Favorable general business, market and economic conditions
Challenges Ahead
- Inaccuracy of ESSA’s financial projections
- Failure to obtain positive results of clinical trials
- Failure to obtain necessary regulatory approvals
- Unfavorable general business, market and economic conditions
- Risks and uncertainties related to medical, scientific, business, economic, competitive, political and social factors