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STOCK TITAN

[8-K] ESSA Pharma Inc. Reports Material Event

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(Neutral)
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Form Type
8-K
Rhea-AI Filing Summary

Calix, Inc. (CALX) filed a Form 144 disclosing a planned sale of 108,000 common shares through Morgan Stanley Smith Barney on or after 07/23/2025. The block is valued at $6.064 million and represents roughly 0.17 % of the 65.30 million shares outstanding. The shares were acquired via a same-day stock-option exercise paid in cash.

The notice also lists prior sales by the same filer in the past three months: 92,000 shares on 07/22/2025 for $5.06 million and 100,000 shares on 06/02/2025 for $4.66 million. Including the current intent, the seller has disposed of or plans to dispose of 300,000 shares—about 0.46 % of outstanding stock—generating total gross proceeds near $15.8 million.

While Form 144 filings do not guarantee execution, they flag affiliate selling activity that investors often watch for signals on insider sentiment.

Calix, Inc. (CALX) ha presentato un modulo Form 144, comunicando la prevista vendita di 108.000 azioni ordinarie tramite Morgan Stanley Smith Barney a partire dal 23/07/2025. Il blocco azionario ha un valore di 6,064 milioni di dollari e rappresenta circa il 0,17% delle 65,30 milioni di azioni in circolazione. Le azioni sono state acquisite tramite l'esercizio di un'opzione su azioni nello stesso giorno, pagata in contanti.

La comunicazione elenca inoltre le vendite precedenti effettuate dallo stesso soggetto negli ultimi tre mesi: 92.000 azioni il 22/07/2025 per 5,06 milioni di dollari e 100.000 azioni il 02/06/2025 per 4,66 milioni di dollari. Inclusa l'intenzione attuale, il venditore ha ceduto o intende cedere 300.000 azioni—circa lo 0,46% del capitale sociale—generando un ricavo lordo complessivo vicino a 15,8 milioni di dollari.

Pur non garantendo l'effettiva esecuzione, le segnalazioni tramite il modulo Form 144 indicano attività di vendita da parte di affiliati, che gli investitori spesso monitorano per cogliere segnali sul sentiment interno.

Calix, Inc. (CALX) presentó un Formulario 144 notificando una venta planificada de 108,000 acciones comunes a través de Morgan Stanley Smith Barney a partir del 23/07/2025. El bloque está valorado en 6,064 millones de dólares y representa aproximadamente el 0,17% de las 65,30 millones de acciones en circulación. Las acciones fueron adquiridas mediante el ejercicio de una opción sobre acciones el mismo día, pagada en efectivo.

El aviso también detalla ventas previas del mismo declarante en los últimos tres meses: 92,000 acciones el 22/07/2025 por 5,06 millones de dólares y 100,000 acciones el 02/06/2025 por 4,66 millones de dólares. Incluyendo la intención actual, el vendedor ha dispuesto o planea disponer de 300,000 acciones, aproximadamente el 0,46% del capital en circulación, generando ingresos brutos totales cercanos a 15,8 millones de dólares.

Si bien las presentaciones del Formulario 144 no garantizan la ejecución, alertan sobre la actividad de venta de afiliados, que los inversores suelen observar para detectar señales sobre el sentimiento interno.

Calix, Inc. (CALX)� 2025� 7� 23� 이후 Morgan Stanley Smith Barney� 통해 보통� 108,000주를 매각� 계획임을 알리� Form 144� 제출했습니다. � 매도 블록� 가치는 606� 4� 달러이며, � 6,530� � � � 0.17%� 해당합니�. 해당 주식은 현금으로 지급된 동일� 주식옵션 행사� 취득되었습니�.

해당 공지에는 동일 신고자가 지� 3개월 내에 진행� 이전 매도 내역� 포함되어 있습니다: 2025� 7� 22일에 92,000�� 506� 달러�, 2025� 6� 2일에 100,000�� 466� 달러� 매도했습니다. 현재 계획� 포함하면, 매도자는 � 300,000�—전� 발행 주식� � 0.46%—를 처분했거� 처분� 예정이며, � 매출액은 � 1,580� 달러� 달합니다.

Form 144 제출� 반드� 거래 실행� 보장하는 것은 아니지�, 내부� 심리� 파악하기 위해 투자자들� 주로 주목하는 계열� 매도 활동� 알리� 신호입니�.

Calix, Inc. (CALX) a déposé un formulaire 144 révélant une vente prévue de 108 000 actions ordinaires via Morgan Stanley Smith Barney à partir du 23/07/2025. Le bloc est évalué à 6,064 millions de dollars et représente environ 0,17 % des 65,30 millions d'actions en circulation. Les actions ont été acquises par l'exercice d'une option d'achat d'actions le même jour, réglée en espèces.

L'avis mentionne également des ventes antérieures effectuées par le même déclarant au cours des trois derniers mois : 92 000 actions le 22/07/2025 pour 5,06 millions de dollars et 100 000 actions le 02/06/2025 pour 4,66 millions de dollars. En incluant l'intention actuelle, le vendeur a cédé ou prévoit de céder 300 000 actions, soit environ 0,46 % du capital en circulation, générant un produit brut total proche de 15,8 millions de dollars.

Bien que les dépôts du formulaire 144 ne garantissent pas l'exécution, ils signalent une activité de vente des affiliés que les investisseurs surveillent souvent pour détecter des indices sur le sentiment des initiés.

Calix, Inc. (CALX) hat ein Formular 144 eingereicht, in dem ein geplanter Verkauf von 108.000 Stammaktien über Morgan Stanley Smith Barney ab dem 23.07.2025 angekündigt wird. Der Block hat einen Wert von 6,064 Millionen US-Dollar und entspricht etwa 0,17% der 65,30 Millionen ausstehenden Aktien. Die Aktien wurden durch die Ausübung einer Aktienoption am selben Tag erworben, die bar bezahlt wurde.

Die Mitteilung listet auch frühere Verkäufe desselben Melders in den letzten drei Monaten auf: 92.000 Aktien am 22.07.2025 für 5,06 Millionen US-Dollar und 100.000 Aktien am 02.06.2025 für 4,66 Millionen US-Dollar. Einschließlich der aktuellen Absicht hat der Verkäufer insgesamt 300.000 Aktien veräußert oder plant dies, was etwa 0,46 % des ausstehenden Aktienkapitals entspricht und einen Bruttoerlös von rund 15,8 Millionen US-Dollar generiert.

Obwohl die Einreichung des Formulars 144 keine Ausführung garantiert, kennzeichnen sie Verkaufsaktivitäten von verbundenen Personen, die Investoren häufig als Indikator für die Insider-Stimmung beobachten.

Positive
  • None.
Negative
  • Affiliate intends to sell 108,000 shares worth $6.064 m, following two recent sales totaling 192,000 shares, signaling sustained insider liquidation.
  • Total 300,000 shares sold/expected in 3 months (~0.46 % of shares outstanding) may create perceived stock-supply overhang and raise questions about insider confidence.

Insights

TL;DR Insider plans third sizable sale in 3 months, totaling 300 k shares (~0.46 % O/S); may pressure sentiment but limited mechanical impact.

The Form 144 adds another 108 k shares to two recent sales worth $9.7 m, bringing intended dispositions to roughly $15.8 m. Although the volume is modest relative to float, clustering of transactions can influence perception of management confidence and near-term stock supply. No dilution occurs because the sale is secondary, yet continued insider monetization after option exercise can act as an overhang, especially ahead of earnings windows.

TL;DR Repeated affiliate selling could raise governance questions on alignment; magnitude remains immaterial to voting power.

Rule 144 filings require insiders to certify absence of undisclosed negative information, but three sales inside one quarter may trigger investor scrutiny around long-term commitment. The 0.46 % stake reduction is unlikely to alter control dynamics; however, boards often monitor clustering patterns to evaluate optics and potential policy adjustments (e.g., 10b5-1 plans). From a governance lens the event is noteworthy yet not structurally harmful.

Calix, Inc. (CALX) ha presentato un modulo Form 144, comunicando la prevista vendita di 108.000 azioni ordinarie tramite Morgan Stanley Smith Barney a partire dal 23/07/2025. Il blocco azionario ha un valore di 6,064 milioni di dollari e rappresenta circa il 0,17% delle 65,30 milioni di azioni in circolazione. Le azioni sono state acquisite tramite l'esercizio di un'opzione su azioni nello stesso giorno, pagata in contanti.

La comunicazione elenca inoltre le vendite precedenti effettuate dallo stesso soggetto negli ultimi tre mesi: 92.000 azioni il 22/07/2025 per 5,06 milioni di dollari e 100.000 azioni il 02/06/2025 per 4,66 milioni di dollari. Inclusa l'intenzione attuale, il venditore ha ceduto o intende cedere 300.000 azioni—circa lo 0,46% del capitale sociale—generando un ricavo lordo complessivo vicino a 15,8 milioni di dollari.

Pur non garantendo l'effettiva esecuzione, le segnalazioni tramite il modulo Form 144 indicano attività di vendita da parte di affiliati, che gli investitori spesso monitorano per cogliere segnali sul sentiment interno.

Calix, Inc. (CALX) presentó un Formulario 144 notificando una venta planificada de 108,000 acciones comunes a través de Morgan Stanley Smith Barney a partir del 23/07/2025. El bloque está valorado en 6,064 millones de dólares y representa aproximadamente el 0,17% de las 65,30 millones de acciones en circulación. Las acciones fueron adquiridas mediante el ejercicio de una opción sobre acciones el mismo día, pagada en efectivo.

El aviso también detalla ventas previas del mismo declarante en los últimos tres meses: 92,000 acciones el 22/07/2025 por 5,06 millones de dólares y 100,000 acciones el 02/06/2025 por 4,66 millones de dólares. Incluyendo la intención actual, el vendedor ha dispuesto o planea disponer de 300,000 acciones, aproximadamente el 0,46% del capital en circulación, generando ingresos brutos totales cercanos a 15,8 millones de dólares.

Si bien las presentaciones del Formulario 144 no garantizan la ejecución, alertan sobre la actividad de venta de afiliados, que los inversores suelen observar para detectar señales sobre el sentimiento interno.

Calix, Inc. (CALX)� 2025� 7� 23� 이후 Morgan Stanley Smith Barney� 통해 보통� 108,000주를 매각� 계획임을 알리� Form 144� 제출했습니다. � 매도 블록� 가치는 606� 4� 달러이며, � 6,530� � � � 0.17%� 해당합니�. 해당 주식은 현금으로 지급된 동일� 주식옵션 행사� 취득되었습니�.

해당 공지에는 동일 신고자가 지� 3개월 내에 진행� 이전 매도 내역� 포함되어 있습니다: 2025� 7� 22일에 92,000�� 506� 달러�, 2025� 6� 2일에 100,000�� 466� 달러� 매도했습니다. 현재 계획� 포함하면, 매도자는 � 300,000�—전� 발행 주식� � 0.46%—를 처분했거� 처분� 예정이며, � 매출액은 � 1,580� 달러� 달합니다.

Form 144 제출� 반드� 거래 실행� 보장하는 것은 아니지�, 내부� 심리� 파악하기 위해 투자자들� 주로 주목하는 계열� 매도 활동� 알리� 신호입니�.

Calix, Inc. (CALX) a déposé un formulaire 144 révélant une vente prévue de 108 000 actions ordinaires via Morgan Stanley Smith Barney à partir du 23/07/2025. Le bloc est évalué à 6,064 millions de dollars et représente environ 0,17 % des 65,30 millions d'actions en circulation. Les actions ont été acquises par l'exercice d'une option d'achat d'actions le même jour, réglée en espèces.

L'avis mentionne également des ventes antérieures effectuées par le même déclarant au cours des trois derniers mois : 92 000 actions le 22/07/2025 pour 5,06 millions de dollars et 100 000 actions le 02/06/2025 pour 4,66 millions de dollars. En incluant l'intention actuelle, le vendeur a cédé ou prévoit de céder 300 000 actions, soit environ 0,46 % du capital en circulation, générant un produit brut total proche de 15,8 millions de dollars.

Bien que les dépôts du formulaire 144 ne garantissent pas l'exécution, ils signalent une activité de vente des affiliés que les investisseurs surveillent souvent pour détecter des indices sur le sentiment des initiés.

Calix, Inc. (CALX) hat ein Formular 144 eingereicht, in dem ein geplanter Verkauf von 108.000 Stammaktien über Morgan Stanley Smith Barney ab dem 23.07.2025 angekündigt wird. Der Block hat einen Wert von 6,064 Millionen US-Dollar und entspricht etwa 0,17% der 65,30 Millionen ausstehenden Aktien. Die Aktien wurden durch die Ausübung einer Aktienoption am selben Tag erworben, die bar bezahlt wurde.

Die Mitteilung listet auch frühere Verkäufe desselben Melders in den letzten drei Monaten auf: 92.000 Aktien am 22.07.2025 für 5,06 Millionen US-Dollar und 100.000 Aktien am 02.06.2025 für 4,66 Millionen US-Dollar. Einschließlich der aktuellen Absicht hat der Verkäufer insgesamt 300.000 Aktien veräußert oder plant dies, was etwa 0,46 % des ausstehenden Aktienkapitals entspricht und einen Bruttoerlös von rund 15,8 Millionen US-Dollar generiert.

Obwohl die Einreichung des Formulars 144 keine Ausführung garantiert, kennzeichnen sie Verkaufsaktivitäten von verbundenen Personen, die Investoren häufig als Indikator für die Insider-Stimmung beobachten.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 23, 2025

 

 

 

ESSA Pharma Inc.

(Exact name of registrant as specified in its charter)

 

 

 

British Columbia, Canada

(State or other jurisdiction of incorporation)

001-37410

(Commission File Number)

98-1250703

(IRS Employer Identification No.)

     

Suite 720, 999 West Broadway,

Vancouver, British Columbia, Canada

(Address of principal executive offices)

V5Z 1K5

(Zip Code)

 

Registrant’s telephone number, including area code: (778) 331-0962

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

xSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)     Name of each exchange on which registered  
Common Shares, no par value   EPIX   Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 8.01 Other Events.

 

On July 23, 2025, ESSA Pharma Inc. (the “Company”) issued a press release announcing that in connection with its previously announced business combination agreement with XenoTherapeutics, Inc. (“Xeno”), a non-profit biotechnology company, under which Xeno will acquire (the “Transaction”) all of the issued and outstanding common shares of the Company, the Company intends to apply to the Supreme Court of British Columbia on August 5, 2025 for (i) an interim order authorizing the holding of a special meeting to consider and approve the Transaction and (ii) for an order authorizing the Company to make an initial cash distribution to its shareholders prior to the closing of the Transaction. A copy of the press release is attached hereto as Exhibit 99.1.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No. Description
99.1 Press Release dated July 23, 2025
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

Forward Looking Statements

 

This communication, and any related oral statements, contains certain information which, as presented, constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements include, but are not limited to, statements that relate to future events and often address expected future business and financial performance, containing words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions and include, but are not limited to, statements regarding the proposed timing and completion of the Transaction, the amounts payable under the Transaction; the Company’s application to the Supreme Court of British Columbia for a reduction of capital and cash distribution prior to the closing the Transaction; the timing and receipt of securityholder, regulatory and court approvals of the Transaction; the satisfaction of the conditions to the completion of the Transaction and other statements that are not statements of historical facts.

 

2

 

 

In this communication, these forward-looking statements are based on the Company’s current expectations, estimates and projections regarding, among other things, the expected date of closing of the Transaction and the potential benefits thereof, its business and industry, management’s beliefs and certain assumptions made by the Company, all of which are subject to change. Forward-looking statements are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, and which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, including the consummation of the Transaction and the anticipated benefits thereof. Such statements reflect the Company’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 the Company as of the date of such statements, are inherently subject to significant medical, scientific, business, economic, competitive, regulatory, political and social uncertainties and contingencies. In making forward-looking statements, the Company may make various material assumptions, including but not limited to (i) the completion of the Transaction on anticipated terms and timing, including obtaining required securityholder, regulatory and court approvals, and the satisfaction of other conditions to the completion of the Transaction; (ii) potential litigation relating to the Transaction that could be instituted by or against the Company, Xeno, XOMA Royalty Corporation or their respective directors or officers, including the effects of any outcomes related thereto; (iii) the risk that disruptions from the Transaction will harm the Company’s business, including current plans and operations; (iv) the ability of the Company to retain and hire key personnel; (v) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; (vi) continued availability of capital and financing and rating agency actions; (vii) legislative, regulatory and economic developments affecting the Company’s business; (viii) the accuracy of the Company’s financial projections; (ix) general business, market and economic conditions; (x) certain restrictions during the pendency of the Transaction that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; (xi) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, pandemics, outbreaks of war or hostilities, as well as the Company’s response to any of the aforementioned factors; (xii) significant transaction costs associated with the Transaction; (xiii) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xiv) competitive responses to the Transaction; (xv) the risks and uncertainties pertaining to the Company’s business, including those set forth in the Company’s Annual Report on Form 10-K dated December 17, 2024, under the heading “Risk Factors”, a copy of which is available on the Company’s profile on EDGAR at www.sec.gov and on SEDAR+ at www.sedarplus.ca, and as otherwise disclosed from time to time on the Company’s EDGAR and SEDAR+ profiles; and (xvi) the risks and uncertainties that will be described in the proxy statement and management information circular for the Company’s securityholders filed with the U.S. Securities and Exchange Commission (the “SEC,” and such statement, the “Proxy Statement”) available from the sources indicated above.

 

These risks, as well as other risks associated with the Transaction, will be more fully discussed in the Proxy Statement. While the list of factors presented here is, and the list of factors to be presented in the Proxy Statement will be, considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material impact on the Company’s financial condition, results of operations, credit rating or liquidity. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company 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 United States and Canadian securities laws. Readers are cautioned against attributing undue certainty to forward-looking statements.

 

3

 

 

Important Additional Information and Where to Find It

 

In connection with the proposed Transaction between the Company, Xeno and XOMA Royalty, the Company will file with the SEC the Proxy Statement, the definitive version of which will be sent or provided to the Company securityholders. The Company may also file other documents with the SEC regarding the proposed Transaction. This document is not a substitute for the Proxy Statement or any other document which the Company may file with the SEC. INVESTORS AND SECURITYHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and securityholders may obtain free copies of the Proxy Statement (when it is available) and other documents that are filed or will be filed with the SEC by the Company through the website maintained by the SEC at www.sec.gov, on SEDAR+ at www.sedarplus.ca, the Company’s website at www.essapharma.com.

 

Participants in the Solicitation

 

The Company and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company’s shareholders in connection with the proposed Transaction. Additional information regarding the identity of the participants, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC in connection with the proposed Transaction (if and when they become available). Information relating to the foregoing can also be found in the Company’s proxy statement for its 2025 annual meeting of shareholders, which was filed with the SEC on January 22, 2025 (the “Annual Meeting Proxy Statement”). To the extent holdings of securities by potential participants (or the identity of such participants) have changed since the information printed in the Annual Meeting Proxy Statement, such information has been or will be reflected on the Company’s Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You may obtain free copies of these documents using the sources indicated above.

 

4

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    ESSA PHARMA INC.
    (Registrant)
Date: July 23, 2025
  By: /s/ David Wood
    Name: David Wood
    Title: Chief Financial Officer

 

5

 

FAQ

What did CALX file on Form 144?

A notice of intent to sell 108,000 common shares under Rule 144.

How much are the shares worth?

The aggregate market value is approximately $6.064 million.

When is the planned sale date for CALX shares?

The filing lists an approximate sale date of 07/23/2025 on the NYSE.

How many CALX shares has the seller disposed of recently?

Including this notice, the filer has sold or plans to sell 300,000 shares over the last three months.

Does a Form 144 guarantee the shares will be sold?

No. It only signals the affiliate’s intent; the transaction may or may not occur.
Essa Pharma

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82.47M
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Biotechnology
Pharmaceutical Preparations
Canada
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