Shares of ESSA Pharma Inc. (NASDAQ: EPIX) closed the trading at a price of $2.32 with the positive change of +0.87%. In the past session approximately 4,026 shares were exchanged against the average daily trading volume of 7,069 shares. The stock touched to the maximum level of $2.40, and it reached the lower level of $2.32 in past session. The stock’s market capitalization has now valued at $268.01M. The stock’s low price in its 52 week is $1.87 per share while $4.50 as the 52 week high price. The last bid price was called at $2.1800 x 1200 and the ask price was stated at $199,999.9844 x 1200.
ESSA Pharma Inc. (NASDAQ: EPIX), recently provided a corporate update and stated financial results for the fiscal second quarter ended March 31, 2019.
- Net Income (Loss). ESSA recorded a net loss of $3.4M ($0.54 loss per ordinary share based on 6,311,098 weighted average ordinary shares outstanding) for the quarter ended March 31, 2019 , contrast to a net loss of $4.4M ( $0.83 loss per ordinary share based on 5,287,605 weighted average ordinary shares outstanding) for the quarter ended March 31, 2018 .
- Research and Development (R&D) expenditures. R&D expenditures for the quarter ended March 31, 2019 were $1.5M contrast to $2.0M for the quarter ended March 31, 2018.
- General and administration (G&A) expenditures. G&A expenditures for the quarter ended March 31, 2019 were $1.8M contrast to $2.2M for the quarter ended March 31, 2018. The decreases in the quarter primarily reflected reduced corporate activity, resulting in reduced professional and regulatory fees.
Liquidity and Outstanding Share Capital
Cash on hand at March 31, 2019 , was $8.6M , with working capital of $5.4M , reflecting the aggregate gross proceeds of the completed January 2018 financing, which totaled $26M , less operating expenses in the intervening period.
As of March 31, 2019, the Company had 6,311,098 ordinary shares issued and outstanding, and 1,654,000 ordinary shares issuable on the exercise of prepaid warrants at a nominal exercise price of $0.002 per ordinary share. If all prepaid warrants are exercised, there would be about 7,965,098 ESSA ordinary shares outstanding.
In addition, as of March 31, 2019 there were 474,937 ordinary shares issuable upon the exercise of warrants and broker warrants at a weighted-average exercise price of $34.35 per ESSA ordinary share and 1,149,961 ESSA ordinary shares issuable upon the exercise of outstanding stock options at a weighted-average exercise price of $4.59 per ordinary share.