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EPIX.US
id: 1474
ESSA Pharma (EPIX) Clinical Trial Misrepresentation Case
E.D. Wisconsin
Court1:25-cv-00124
Case number12/12/2023
Class period Start10/31/2024
Class period End03/25/2025
Lead Plaintiff motion deadline- $EPIX investors filed a lawsuit against ESSA Pharma, alleging the company misled them about the efficacy of Masofaniten, in treating prostate cancer.
- On October 31, 2024, ESSA announced the termination of its trial, a futility analysis revealed no significant efficacy benefit of Masofaniten. Following this news, $EPIX dropped 73.08%.
- $EPIX investors can join this case to be notified about potential recovery.
Case Details:
Between December 12, 2023, and October 31, 2024, ESSA highlighted the potential of its drug candidate, Masofaniten, as a combination therapy with enzalutamide for prostate cancer. The company pointed to strong results from Phase 1 trials, showing significant reductions in PSA levels.
However, on October 31, 2024, ESSA announced it was ending Phase 2 of the trial after interim results showed no clear benefit of the combination therapy over enzalutamide alone. The company also decided to halt other Masofaniten studies to focus on other priorities.
Following this news, $EPIX dropped 73.08%.
These revelations contradicted ESSA’s prior claims about masofaniten’s potential, causing significant losses for investors.
Based on these events, $EPIX investors filed a lawsuit against ESSA Pharma, Inc., claiming the company:
- It misled investors about the efficacy and potential success of Masofaniten.
- It overstated its lead product candidate's clinical, regulatory, and commercial prospects.
Investors believe ESSA misrepresented the performance of Masofaniten.
Case Status
Lead Plaintiff Submission
Alleged Offence
Mismanagement,
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10/31/2024
Filing date
01/24/2025
Lead Plaintiff Deadline
03/25/2025