HOUSTON, TX and VANCOUVER, April
12, 2019 /PRNewswire/ - ESSA Pharma Inc. (TSX-V: EPI; Nasdaq: EPIX) ("ESSA" or the "Corporation") announced that,
pursuant to its stock option plan, it has granted incentive stock options to directors and officers, employees and consults of
the Corporation to purchase up to an aggregate of 238,000 common shares in the capital of the Corporation (the "Common
shares"). Such stock options will vest in 48 equal monthly instalments, with the first instalment vesting on the one-month
anniversary of the grant date. The stock options are exercisable on or before February 8, 2029 at
the price of US$3.81 per Common share and are granted in accordance with the policies of the TSX
Venture Exchange and the terms and conditions of the Corporation's stock option plan.
About ESSA Pharma Inc.
ESSA is a 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.
ESSA proprietary compounds, otherwise known as aniten compounds, bind to the N-terminal domain of the androgen receptor
("AR").
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, 2018). 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.
Forward-Looking Statement Disclaimer
This release contains certain information which, as presented, constitutes "forward-looking information" within the
meaning of the Private Securities Litigation Reform Act of 1995 and/or applicable Canadian securities laws. Forward-looking
information involves statements that relate to future events and often addresses expected future business and financial
performance, containing words such as "look forward", "anticipate" and, "believe", and statements that an action or event "is
expected", "should", or "will" be taken or occur, or other similar expressions and includes, but is not limited to, statements
regarding the anticipated pharmaceutical properties of the EPI-7386 drug candidate and anti-androgens, upcoming presentations at
AACR, and beliefs about ESSA's proprietary compounds significantly expanding the interval of time in which patients suffering
from CRPC can benefit from hormone-based therapies.
Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which
are beyond the ability of ESSA to control or predict, and which may cause ESSA's actual results, performance or achievements to
be materially different from those expressed or implied thereby. Such statements reflect ESSA's current views with respect to
future events, are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that,
while considered reasonable by ESSA as of the date of such statements, are inherently subject to significant medical, scientific,
business, economic, competitive, political and social uncertainties and contingencies. In making forward-looking statements, ESSA
may make various material assumptions, including but not limited to (i) the accuracy of ESSA's financial projections; (ii)
obtaining positive results of clinical trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market
and economic conditions.
Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein
and in ESSA's Annual Report on Form 20-F dated December 13, 2018 under the heading "Risk Factors",
a copy of which is available on ESSA's profile on the SEDAR website at www.sedar.com or ESSA's profile on EDGAR at www.sec.gov, and as
otherwise disclosed from time to time on ESSA's SEDAR and EDGAR profiles. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that statements are made and ESSA undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as may be
required by applicable Canadian and United States securities laws. Readers are cautioned against
attributing undue certainty to forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE ESSA Pharma Inc