Important Investor Alert: Levi & Korsinsky, LLP Announces a Securities Class Action Lawsuit Against ESSA Pharma Inc.
NEW YORK, Feb. 27, 2025. Levi & Korsinsky, LLP announces that a class action securities lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased ESSA Pharma Inc. (“ESSA Pharma” or the “Company”) (NASDAQ: EPIX) securities between February 25, 2021 and February 23, 2025. The lawsuit alleges that the Company issued materially false and misleading statements and/or failed to disclose material adverse facts concerning its business, operations, and financial condition.
Background on ESSA Pharma
ESSA Pharma is a clinical-stage biotechnology company focused on the development and commercialization of novel therapeutics for the treatment of cancer. The Company’s lead product candidate, EPI-5895, is a potent and selective inhibitor of the WEE1 kinase, which is being developed for the treatment of patients with relapsed or refractory acute myeloid leukemia (“AML”) and other hematologic malignancies.
Allegations in the Lawsuit
The complaint alleges that the Company made false and misleading statements and/or failed to disclose material adverse facts concerning its business, operations, and financial condition. Specifically, the Company is accused of making false and misleading statements regarding the progress and prospects of its clinical trials for EPI-5895, including the safety and efficacy data, and the timeline for regulatory approval.
Effects on ESSA Pharma Investors
As a result of this news, ESSA Pharma investors may have suffered significant losses. For more information, investors are encouraged to contact Levi & Korsinsky, LLP.
Effects on the World
The implications of this lawsuit extend beyond ESSA Pharma investors. The biotechnology industry as a whole could be affected, as investors may become more hesitant to invest in biotech companies due to increased scrutiny and potential for legal action.
Source
This information is based on the press release issued by Levi & Korsinsky, LLP on February 27, 2025. For more information, please visit the firm’s website at www.zlk.com.
Conclusion
The securities lawsuit against ESSA Pharma is a significant development for investors in the Company. The allegations, if proven true, could result in substantial losses for those who purchased ESSA Pharma securities during the specified period. Furthermore, the lawsuit could have far-reaching implications for the biotechnology industry as a whole. As always, investors are encouraged to seek legal advice before making any investment decisions.
- ESSA Pharma announces class action securities lawsuit
- Allegations of false and misleading statements and/or failure to disclose material adverse facts
- Lawsuit filed in the United States District Court for the Southern District of New York
- Implications for ESSA Pharma investors and the biotechnology industry
