Based in Vancouver, B.C., with offices in Houston, Texas and South San Francisco, California, ESSA Pharma Inc. (NASDAQ: EPIX) lead investigational drug EPI-7386 is a novel treatment for prostate cancer with an initial focus
ESSA Pharma: Why I Remain Bullish
Summary
- ESSA Pharma developed a novel mode of action drug, EPI-7386, for the treatment of metastatic castrate-resistant prostate cancer. Pre-clinical and early Ph 1 results are promising.
- ESSA's share price crashed in mid-Aug when a change in the Ph 1 trial protocol was announced, and a delay in the expected Ph 1 monotherapy trial data release. I believe the market overreacted.
- ESSA's EPI-7386 combination Ph 1/2 trial with Astellas' enzalutamide now recruiting. Combination trials with Janssen and Bayer expected to begin soon.
- ESSA has presented additional supportive evidence on EPI-7386 mode of action on the N-Terminal of the AR. Liquid biopsy collaboration (RNA & DNA analysis) with Caris to help identify more precisely which prostate cancer patients most responsive to EPI-7386.
- I remain bullish on ESSA which may be a buyout target in 2023 if EPI-7386 show promising clinical results in monotherapy and combination trials. I recently added to my position.
Steven H. Goldman, biotech enthusiast. Steven was a commercial litigation lawyer, retired from active practice in January 2021, and was a founding member of the Toronto law firm of Goldman Hine LLP where he remains in a Counsel position. Steven continues to be a member of the Law Society of Upper Canada. He graduated with a B.A., President's Medal recipient (1976, Carleton University, Ottawa, Ontario) and J.D. (1980, Queen's University, Kingston, Ontario). He is the President and CEO of Comstock Metals Ltd. (TSX.V: CSL.V) a former mining exploration company which held interests in gold deposits in Saskatchewan and the Yukon, and a shareholding interest in E3 Lithium, currently owning a passive investment in MAS Gold (MAS.V), and looking for new business opportunities. Steven is a former advisor to E3 Lithium Ltd. (TSX. Venture: ETL.V) (OTC: EEMMF), an emerging lithium developer and lithium extraction technology innovator based in Alberta, Canada. Steven was President & CEO of Speedy AutoService and Minute Muffler from December 2007 to December 31, 2009 (with approximately 160 locations, primarily franchised, across Canada). He is also a former director of Tribute Pharmaceuticals where he served for approximately 10 years on both the audit and M&A committees.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of EPIX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Last month I increased my position in EPIX by 80% when the shares were trading in the $8.00 to $8.40 range.
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