Essa Pharma reports Q4 EPS (12c), consensus (21c)

At September 30, the company had available cash reserves and short-term investments of $148.1M, expected to be sufficient to fund current and planned operations through 2025. “We are pleased with the progress made in 2023 with masofaniten, our first-in-class N-terminal domain androgen receptor inhibitor for the treatment of prostate cancer, which culminated recently in the presentation of Phase 1 dose escalation data at two medical meetings where we showed that the combination of masofaniten with enzalutamide was well-tolerated and demonstrated deep and durable reductions in prostate-specific antigen in patients with metastatic castration-resistant prostate cancer,” said David Parkinson, CEO. “Looking ahead, we will be focused on executing the Phase 2 combination study of masofaniten and enzalutamide in mCRPC patients as well as investigating masofaniten in combination with other standard of care antiandrogens to further elucidate its potential as a new treatment for prostate cancer patients at earlier stages of the disease. We are entering 2024 with a strong cash balance and a runway that is expected to fund our planned operations through 2025.”