Cancer-Focused ESSA Pharma Ends Prostate Cancer Trial Due to Insufficient Efficacy From Combination Therapy
Portfolio Pulse from Vandana Singh
ESSA Pharma Inc. (NASDAQ:EPIX) has decided to terminate its Phase 2 trial of masofaniten combined with enzalutamide for prostate cancer due to insufficient efficacy. The trial showed a higher PSA90 response rate with Pfizer's Xtandi monotherapy, leading to a futility analysis indicating a low likelihood of meeting the study's primary endpoint. ESSA plans to focus resources elsewhere, ending other studies involving masofaniten. EPIX stock fell 69.80% in premarket trading.
November 01, 2024 | 1:28 pm
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POSITIVE IMPACT
Pfizer's Xtandi (enzalutamide) showed better efficacy in the trial compared to the combination therapy, reinforcing its position as the standard of care for mCRPC.
The trial results highlight the efficacy of Pfizer's Xtandi as a monotherapy, potentially strengthening its market position and investor confidence in its prostate cancer treatment.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
ESSA Pharma's decision to terminate its Phase 2 trial of masofaniten combined with enzalutamide due to insufficient efficacy has led to a significant drop in its stock price, down 69.80% in premarket trading.
The termination of the trial indicates a failure in achieving the desired efficacy, which is critical for the company's future prospects in prostate cancer treatment. This has directly impacted investor confidence, leading to a sharp decline in stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100