PR Newswire
HOUSTON and VANCOUVER, May 10, 2018
HOUSTON and VANCOUVER, May 10,
2018 /PRNewswire/ - ESSA Pharma Inc. ("ESSA" or the "Company") (TSX-V: EPI, Nasdaq: EPIX), a pre-clinical
stage pharmaceutical company focused on developing novel therapies for the treatment of prostate cancer, announced today that it
received a notice from the Nasdaq Listing Qualifications Staff on May 10, 2018 notifying the
Company that it regained compliance with the Nasdaq's minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for
continued listing on the Nasdaq Capital Market (the "Nasdaq"). Accordingly, ESSA is in compliance with all applicable listing
standards and its common stock will continue to be listed on the Nasdaq and the Nasdaq considers this matter closed.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
About ESSA Pharma Inc.
ESSA is a pre-clinical stage pharmaceutical company focused on developing novel and proprietary therapies for the treatment of
castration-resistant prostate cancer ("CRPC") in patients whose disease is progressing despite treatment with current
therapies. ESSA believes that its proprietary compounds can significantly expand the interval of time in which patients suffering
from CRPC can benefit from hormone-based therapies, by disrupting the androgen receptor ("AR") signaling pathway that
drives prostate cancer growth and by preventing AR transcriptional activity by binding selectively to the N-terminal domain
("NTD") of the AR. A functional NTD is essential for transactivation of the AR. In preclinical studies, blocking the NTD
has demonstrated the capability to overcome the known AR-dependent mechanisms of CRPC. ESSA was founded in 2009.
About Prostate Cancer
Prostate cancer is the second-most commonly diagnosed cancer among men and the fifth most common cause of male cancer death
worldwide (Globocan, 2012). Adenocarcinoma of the prostate is dependent on androgen for tumor progression and depleting or
blocking androgen action has been a mainstay of hormonal treatment for over six decades. Although tumors are often initially
sensitive to medical or surgical therapies that decrease levels of testosterone, disease progression despite castrate levels of
testosterone generally represents a transition to the lethal variant of the disease, metastatic CPRC ("mCRPC"), and most
patients ultimately succumb to the illness. The treatment of mCRPC patients has evolved rapidly over the past five years. Despite
these advances, additional treatment options are needed to improve clinical outcomes in patients, particularly those who fail
existing treatments including abiraterone or enzalutamide, or those who have contraindications to receive those drugs. Over time,
patients with mCRPC generally experience continued disease progression, worsening pain, leading to substantial morbidity and
limited survival rates. In both in vitro and in vivo animal studies, ESSA's novel approach to blocking the androgen pathway has
been shown to be effective in blocking tumor growth when current therapies are no longer effective.
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SOURCE ESSA Pharma Inc