Pharmaceutical company ESSA Pharma Inc (TSX-V:EPI)(NASDAQ:EPIX) stated on Thursday its net loss of USD2.7m (USD0.42 loss per common share) for the fiscal first quarter ended 31 December 2018.

This is compared with a net loss of USD2.1m (USD1.44 loss per common share) for the quarter ended 31 December 2017, which included a gain on derivative liability of USD7.3m.

R&D expenditures of USD1.2m were recorded for the quarter ended 31 December 2018, a rise over R&D of USD1.0m for the quarter ended 31 December 2017, which were primarily related to its continued focus on preclinical research related to its next-generation aniten compounds in the current period.

As of 31 December 2018, the cash on hand was USD12.2m, total assets was USD13,125 and working capital was USD9.2m.

Additionally, the company will present a poster at AACR Annual Meeting from 29 March 29 - 3 April 2019 in Atlanta, GA as well as take part at the 31st Annual ROTH Conference 17-18 March 2019 in Laguna Niguel, CA. Otello Stampacchia, PhD, founder of the biotech firm Omega Funds LP, was named to ESSA's board of directors.