Important Notice for ESSA Pharma Inc. (EPIX) Shareholders
New York, NY, March 17, 2025 – The Gross Law Firm, a leading securities fraud law firm, notifies investors that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of shareholders of ESSA Pharma Inc. (NASDAQ: EPIX) who purchased or otherwise acquired the Company’s securities between February 1, 2023, and December 31, 2024.
Allegations of Securities Fraud
The complaint alleges that ESSA Pharma and certain of its executives violated the Securities Exchange Act of 1934 by making false and misleading statements and/or failing to disclose material information to the investing public. Specifically, the complaint alleges that the Company misrepresented the commercial prospects of its lead drug candidate, ES101, by downplaying the risks and overstating the potential benefits of the drug.
Background of ES101
ES101 is a small molecule inhibitor of the protein SHP2, which is believed to play a role in the progression of various cancers. The Company had announced positive results from a Phase 2 study of ES101 in combination with standard chemotherapy for the treatment of metastatic pancreatic cancer in 2023. However, the complaint alleges that the Company failed to disclose that the study had several significant limitations and that the data were not as positive as portrayed.
Effects on Shareholders
As a result of the Company’s alleged misrepresentations, EPIX stock traded at artificially inflated prices between February 1, 2023, and December 31, 2024. Shareholders who purchased or otherwise acquired EPIX securities during this period may be eligible to recover their losses through the class action lawsuit.
Effects on the World
The implications of this lawsuit go beyond just EPIX shareholders. The pharmaceutical industry as a whole relies on accurate and transparent communication about clinical trial data to ensure that patients receive effective treatments and that investors make informed decisions. The allegations in this lawsuit, if proven true, could undermine public trust in the industry and potentially lead to increased regulatory scrutiny.
Conclusion
If you purchased or otherwise acquired ESSA Pharma securities between February 1, 2023, and December 31, 2024, you may be entitled to compensation. The Gross Law Firm encourages you to contact them for a free consultation to discuss your potential recovery options. The lawsuit is an important reminder of the need for transparency and accuracy in the communication of clinical trial data to the investing public.
- Class action lawsuit filed against ESSA Pharma Inc. (EPIX)
- Allegations of securities fraud related to lead drug candidate ES101
- Shareholders who purchased EPIX securities between February 1, 2023, and December 31, 2024, may be eligible to recover losses
- Implications for the pharmaceutical industry and public trust
