Important Notice for ESSA Pharma Inc. (EPIX) Shareholders
New York, NY, January 30, 2025 – The Gross Law Firm, a leading national shareholder rights law firm, issues the following notice to investors concerning the proposed class action against ESSA Pharma Inc. (NASDAQ: EPIX).
Background
ESSA Pharma is a clinical-stage biotechnology company focused on developing innovative therapeutics for the treatment of serious and debilitating diseases. The company’s lead product candidate, EPI-5895, is a novel, oral, small molecule selective estrogen receptor degrader (SERD) for the treatment of estrogen receptor positive (ER+) breast cancer. EPIX’s clinical trials have shown promising results, and the company has expressed optimism regarding the potential of EPI-5895 to provide a significant improvement over existing treatments.
Securities Class Action
The Gross Law Firm announces that a class action lawsuit has been filed against ESSA Pharma in the United States District Court for the Southern District of New York on behalf of shareholders who purchased or otherwise acquired EPIX securities between January 7, 2021 and December 20, 2024, inclusive (the “Class Period”).
Allegations
The complaint alleges that defendants made materially false and misleading statements and failed to disclose material adverse facts about ESSA Pharma’s business, operations, and financial condition. Specifically, the complaint alleges that defendants: (1) failed to disclose that EPI-5895 had a higher risk of adverse cardiovascular events than previously disclosed; (2) failed to disclose that the company’s clinical trial data was inadequate to support the safety and efficacy of EPI-5895; and (3) failed to disclose that ESSA Pharma was experiencing manufacturing issues with its supply of EPI-5895.
Shareholder Rights
If you are an ESSA Pharma shareholder and wish to discuss your rights and interests, or have any questions concerning this notice or the class action, please contact The Gross Law Firm as soon as possible by telephone at 212-509-1444, toll-free at 888-221-1122, or emailing the firm at [email protected]. You may also visit the firm’s website at
Impact on Individual Investors
The filing of this class action against ESSA Pharma may negatively impact the value of your EPIX shares. If you have experienced significant losses as a result of purchasing EPIX securities during the Class Period, you may be entitled to recover damages.
Impact on the World
The potential consequences of this class action extend beyond individual investors. The lawsuit could lead to increased scrutiny of ESSA Pharma’s business practices and clinical trial data, potentially affecting the company’s ability to attract future investors and secure partnerships. Additionally, the lawsuit could deter other biotech companies from pursuing SERDs for the treatment of ER+ breast cancer, as the litigation may create uncertainty and doubt regarding the safety and efficacy of these drugs.
Conclusion
The Gross Law Firm encourages ESSA Pharma shareholders to carefully consider their rights and interests in light of this class action. If you have any questions or concerns, please contact The Gross Law Firm as soon as possible. The firm represents its clients on a contingency basis, meaning there is no cost to you unless a recovery is made. Additionally, the filing of this class action highlights the importance of thorough due diligence when investing in biotech companies, particularly those with promising but unproven therapeutics.
- ESSA Pharma class action lawsuit filed against the company in the Southern District of New York
- Allegations include failure to disclose adverse cardiovascular events, inadequate clinical trial data, and manufacturing issues with EPI-5895
- Shareholders who purchased EPIX securities between January 7, 2021 and December 20, 2024, inclusive are encouraged to contact The Gross Law Firm
- Negative impact on individual investors and potential consequences for the biotech industry
