Essa Pharma downgraded to Neutral from Overweight at Piper Sandler
The Fly

Essa Pharma downgraded to Neutral from Overweight at Piper Sandler

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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