ESSA Pharma Review Following Q4 Results
<p>Oppenheimer analysts provided a review on <a href='https://financialmodelingprep.com/financial-summary/EPIX'>ESSA Pharma Inc. (NASDAQ:EPIX)</a> following the company’s reported Q4 results yesterday, with EPS of ($0.14) vs. their estimate of ($0.26). The discrepancy was primarily due to a sharp quarter-over-quarter decrease in R&D expenses. According to the analysts, the company’s $167 million end-quarter cash position could sustain operations through 2025.</p>
<p>The analysts believe the story in 2023 will focus on combination data —especially full Phase 1 dose-escalation data from an ongoing study of EPI-7386 + enzalutamide, expected in mid-year or Q3. </p>
<p>Given Janssen’s recent decision to discontinue a JNJ-sponsored combo trial, the analysts expect to see abiraterone and apalutamide integrated into an Essa-sponsored trial next year, while darolutamide + ‘7386 enters a randomized investigator-sponsored trial. </p>
<p>The analysts cut their price target to $17 from $23 while reiterating their Outperform rating.</p>

NASDAQ:EPIX