RE:New to this Stock Welcome! I am also new to Essa Pharma and I am very excited about their future prospects.
It looks like the share price falling started with an insider dumping their shares followed by the news that they were ending their EPI-506 project which had completed its phase 1 trials. Basically they had the correct molecules, but had the wrong potency. They were able to get the desired results for a few hours each day with high doses of their drug. To get 24-hour coverage, they realized that they needed a more potent form of their drug, which is why they scrapped their current project to begin the process for the their newer compounds, which are 10x more potent. The side affects were also minimal.
It is actually very promising research. People sold because they don't want to wait for the next phase 1 trials for the new drug. These trials are schedule to take place the beginning of 2018 if not earlier. If you have time, watch their presentation at a recent conference. It got me very excited to be part of this process - the end result might just save my life one day!
Here is the link (Jan 29): www.essapharma.com/investors/events-presentations/