Business
ESSA Pharma Inc. Amends Agreement with XenoTherapeutics
ESSA Pharma Inc. ("ESSA," or the "Company") (NASDAQ: EPIX) today announced that it has reached an agreement to amend its previously announced Business Combination Agreement (the "Amended Agreement") with XenoTherapeutics Inc. ("Xeno"), a non-profit biotechnology company. XOMA Royalty Corporation ("XOMA Royalty") (NASDAQ: XOMA) continues to act as structuring agent and intends to provide financing for the transaction (the "Transaction").
About this update from Xoma Royalty Corporation
[{"type":"text","content":"Shareholders expected to receive approximately $0.12 per share in cash upon closing of transaction and up to approximately $0.14 per CVR under revised terms","length":156,"tagName":"p","attribs":{}},{"type":"text","content":"Further Adjourns Special Meeting to October 3, 2025","length":51,"tagName":"p","attribs":{}},{"type":"text","content":"SOUTH SAN FRANCISCO, Calif. and VANCOUVER, BC, Sept. 24, 2025 /PRNewswire/ -- ESSA Pharma Inc. ("ESSA," or the "Company") (NASDAQ: EPIX) today announced that it has reached an agreement to amend its previously announced Business Combination Agreement (the "Amended Agreement") with XenoTherapeutics Inc. ("Xeno"), a non-profit biotechnology company. XOMA Royalty Corporation ("XOMA Royalty") (NASDAQ: XOMA) continues to act as structuring agent and intends to provide financing for the transaction (the "Transaction").","length":578,"tagName":"p"},{"type":"text","content":"Under the Amended Agreement, ESSA shareholders are now expected to receive approximately US$0.12, exclusive of future non-transferable contingent value right ("CVR") payments and exclusive of the approximately US$1.69 of cash previously distributed to ESSA shareholders, per Common Share at closing (as compared to the approximately US$1.91 that was originally estimated as the aggregate distribution, as described in greater detail below), plus one CVR per Common Share, which CVR now represents the right to receive up to approximately US$0.14 per CVR and payable within specified periods following the close of the Transaction. The potential CVR payments of US$0.14 per Common Share represents up to US$6.7 million in the aggregate that may be distributed to CVR holders depending on the outcome of certain contingent liabilities. ESSA and Xeno are making this change in light of potential liabilities, associated expenses and the latest estimates of the Company's expected cash balance at closing. ESSA will be filing the Amended Agreement on a Current Report on Form 8-K.","length":1090,"tagName":"p"},{"type":"text","content":"As previously disclosed on July 14, 2025, ESSA shareholders were expected to receive a cash payment per Common Share determined based on ESSA's cash balance at closing, plus one CVR per Common Share. At that time, ESSA estimated that shareho...