SCHEDULE: Tang Capital Group Reports Full Divestment in ESSA Pharma

Tang Capital Management and its affiliated entities have filed an amended Schedule 13G, reporting zero beneficial ownership of ESSA Pharma Inc. common shares.

Summary

• Tang Capital Management, LLC and its affiliated entities (Kevin Tang, Tang Capital Partners, LP, Tang Capital Partners International, LP, Tang Capital Partners III, Inc., Tang Capital Partners IV, Inc., and Concentra Biosciences, LLC) have filed an Amendment No. 1 to Schedule 13G.
• The reporting group now beneficially owns 0.00 common shares of ESSA Pharma Inc., representing 0% of the class.
• This indicates a complete divestment of their previously reported stake or a reduction below the 5% reporting threshold.
• The filing states the event requiring this statement is September 30, 2025, with the statement filed on November 14, 2025.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of a change in beneficial ownership, specifically a complete divestment by the reporting group. Without additional context on the reasons for divestment or the performance of ESSA Pharma, this event is neutral in sentiment for the issuer.

Future Outlook

NA

Management Comments

• We certify that, to the best of our knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

This filing is a routine disclosure required when an institutional investor's beneficial ownership in a public company falls below the 5% reporting threshold, or when they completely divest their stake. It reflects a change in portfolio allocation by Tang Capital Management and its affiliates regarding ESSA Pharma Inc.

Stakeholder Impact

• Shareholders of ESSA Pharma Inc. may note the exit of a significant institutional investor, which could be interpreted in various ways depending on market sentiment and the investor's reputation.
• The market may react to the news of a large institutional holder divesting its entire stake, potentially leading to short-term price volatility.

Key Dates

Keywords

ESSA Pharma, Tang Capital Management, Schedule 13G, Beneficial Ownership, Divestment, Institutional Investor, Common Shares