Latest news with #ESSA
Yahoo
21-05-2025
- Business
- Yahoo
ESSA Bancorp, Inc. Declares Quarterly Dividend
STROUDSBURG, PA / / May 21, 2025 / ESSA Bancorp, Inc. (NASDAQ Global MarketSM:ESSA), the holding company for ESSA Bank & Trust, today announced that its Board of Directors declared a dividend of fifteen cents ($0.15) per share. The dividend is payable to shareholders of record as of June 16, 2025, payable on June 30, 2025. About the Company ESSA Bancorp, Inc. is the holding company for its wholly owned subsidiary, ESSA Bank & Trust, which was formed in 1916. The Company has total assets of $2.2 billion. Headquartered in Stroudsburg, Pennsylvania, the Company has two regional offices in Allentown and Radnor, and operates 19 community offices throughout the greater Pocono, Lehigh Valley, Scranton/Wilkes-Barre, and suburban Philadelphia areas. ESSA Bank & Trust offers a full range of commercial and retail financial services, asset management and trust services, investment services through Ameriprise Financial Institutions Group and insurance benefit services through ESSA Advisory Services, LLC. ESSA Bancorp Inc. stock trades on the NASDAQ Global Market (SM) under the symbol "ESSA". Forward-Looking Statements Certain statements contained herein are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those related to the economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including compliance costs and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity, and the risk factors disclosed in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports filed on Form 10-Q. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions, that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. Contact: Gary S. Olson, President & CEOCorporate Office: 200 Palmer StreetStroudsburg, Pennsylvania 18360Telephone: (855) 713-8001 SOURCE: ESSA Bancorp Inc. View the original press release on ACCESS Newswire
Associated Press
08-05-2025
- Business
- Associated Press
ESSA Pharma Reports Financial Results for Fiscal Second Quarter Ended March 31, 2025
Company continues to explore and review strategic options focused on maximizing shareholder value SOUTH SAN FRANCISCO, Calif. and VANCOUVER, BC, May 8, 2025 /PRNewswire/ - ESSA Pharma Inc. ('ESSA,' or the 'Company') (NASDAQ: EPIX), a pharmaceutical company that, prior to the discontinuation of its clinical trials and development programs, had been focused on developing novel therapies for the treatment of prostate cancer, today reported financial results for the fiscal second quarter ended March 31, 2025. 'We continue to rigorously evaluate strategic options with a focus on maximizing shareholder value,' said David Parkinson, MD, President and CEO of ESSA. 'We have taken productive steps towards a decision and hope to share an update in the near future.' Second Quarter 2025 and Recent Updates Summary of Financial Results (Amounts expressed in U.S. dollars) Liquidity and Outstanding Share Capital About ESSA Pharma Inc. ESSA is a pharmaceutical company that was previously focused on developing novel and proprietary therapies for the treatment of patients with prostate cancer. For more information, please visit Forward-Looking Statement Disclaimer This release 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 termination of the Company's clinical studies of masofaniten, the Company's evaluation of its strategic alternatives and future announcements in connection therewith and the Company's expected headcount and cost reductions. Forward-looking statements are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of ESSA to control or predict, and which may cause ESSA's actual results, performance or achievements to be materially different from those expressed or implied thereby. Such statements reflect ESSA'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 ESSA as of the date of such statements, are inherently subject to significant medical, scientific, business, economic, competitive, political and social uncertainties and contingencies. In making forward looking statements, ESSA may make various material assumptions, including but not limited to (i) the accuracy of ESSA's financial projections; (ii) obtaining necessary regulatory approvals; (iii) ESSA's ability to efficiently wind down its clinical trial activities (iv) that one or more strategic options may be available to ESSA at reasonably acceptable terms; and (v) general business, market and economic conditions. Forward-looking statements are developed based on assumptions about such risks, uncertainties and other factors set out herein and in ESSA's Annual Report on Form 10-K dated December 17, 2024, under the heading 'Risk Factors', a copy of which is available on ESSA's profile on EDGAR at and on SEDAR+ at and as otherwise disclosed from time to time on ESSA's EDGAR and SEDAR+ profiles. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and ESSA 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. Contacts ESSA Pharma Inc. David Wood, Chief Financial Officer 778.331.0962 [email protected] Investors and Media Argot Partners 212.600.1902 [email protected] ESSA PHARMA INC. CONSOLIDATED BALANCE SHEETS Unaudited Amounts in thousands of United States dollars ESSA PHARMA INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS Unaudited Amounts in thousands of United States dollars, except share and per share data View original content: SOURCE ESSA Pharma Inc
Cision Canada
08-05-2025
- Business
- Cision Canada
ESSA Pharma Reports Financial Results for Fiscal Second Quarter Ended March 31, 2025
Company continues to explore and review strategic options focused on maximizing shareholder value SOUTH SAN FRANCISCO, Calif. and VANCOUVER, BC, May 8, 2025 /CNW/ - ESSA Pharma Inc. ("ESSA," or the "Company") (NASDAQ: EPIX), a pharmaceutical company that, prior to the discontinuation of its clinical trials and development programs, had been focused on developing novel therapies for the treatment of prostate cancer, today reported financial results for the fiscal second quarter ended March 31, 2025. "We continue to rigorously evaluate strategic options with a focus on maximizing shareholder value," said David Parkinson, MD, President and CEO of ESSA. "We have taken productive steps towards a decision and hope to share an update in the near future." Second Quarter 2025 and Recent Updates ESSA continues to evaluate a range of strategic options focused on maximizing shareholder value. These options may include, but are not limited to, a merger, amalgamation, take-over, business combination, asset sale or acquisition, shareholder distribution, wind-up, liquidation and dissolution, or other strategic direction. The process is expected to involve continuing headcount and other cost reductions. Summary of Financial Results (Amounts expressed in U.S. dollars) Net Loss. ESSA recorded a net loss of $6.4 million for the second quarter ended March 31, 2025, compared to $9.0 million for the second quarter ended March 31, 2024. Investment and other income was $1.0 million for the second quarter ended March 31, 2025, compared to $1.5 million for the second quarter ended March 31, 2024. Research and Development ("R&D") expenditures. R&D expenditures for the second quarter ended March 31, 2025 were $3.5 million compared to $6.2 million for the second quarter ended March 31, 2024, and include non-cash costs related to share-based payments of $551,433 for the second quarter ended 2025 compared to $455,903 for the second quarter ended 2024. The increase in the second quarter was primarily attributed to the wind-down of clinical trials and cessation of preclinical work. General and Administration ("G&A") expenditures. G&A expenditures for the second quarter ended March 31, 2025 were $3.9 million compared to $4.3 million for the second quarter ended March 31, 2024 and include non-cash costs related to share-based payments of $620,676 for the second quarter ended 2025 compared to $671,710 for the second quarter ended 2024. Liquidity and Outstanding Share Capital As of March 31, 2025, the Company had available cash reserves and short-term investments of $113.9 million and net working capital of $113.5 million. The company has no long-term debt facilities. As of March 31, 2025, the Company had 44,388,550 common shares issued and outstanding, and there were 2,920,000 common shares issuable upon the exercise of prefunded warrants at an exercise price of $0.0001. About ESSA Pharma Inc. ESSA is a pharmaceutical company that was previously focused on developing novel and proprietary therapies for the treatment of patients with prostate cancer. For more information, please visit Forward-Looking Statement Disclaimer This release 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 termination of the Company's clinical studies of masofaniten, the Company's evaluation of its strategic alternatives and future announcements in connection therewith and the Company's expected headcount and cost reductions. Forward-looking statements are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of ESSA to control or predict, and which may cause ESSA's actual results, performance or achievements to be materially different from those expressed or implied thereby. Such statements reflect ESSA'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 ESSA as of the date of such statements, are inherently subject to significant medical, scientific, business, economic, competitive, political and social uncertainties and contingencies. In making forward looking statements, ESSA may make various material assumptions, including but not limited to (i) the accuracy of ESSA's financial projections; (ii) obtaining necessary regulatory approvals; (iii) ESSA's ability to efficiently wind down its clinical trial activities (iv) that one or more strategic options may be available to ESSA at reasonably acceptable terms; and (v) general business, market and economic conditions. Forward-looking statements are developed based on assumptions about such risks, uncertainties and other factors set out herein and in ESSA's Annual Report on Form 10-K dated December 17, 2024, under the heading "Risk Factors", a copy of which is available on ESSA's profile on EDGAR at and on SEDAR+ at and as otherwise disclosed from time to time on ESSA's EDGAR and SEDAR+ profiles. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and ESSA 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. Contacts ESSA Pharma Inc. David Wood, Chief Financial Officer 778.331.0962 [email protected] Investors and Media Argot Partners 212.600.1902 [email protected] ESSA PHARMA INC. CONSOLIDATED BALANCE SHEETS Unaudited Amounts in thousands of United States dollars March 31, 2025 September 30, 2024 Cash $ 86,308 $ 103,710 Prepaids and other assets 29,107 24,402 Total assets $ 115,415 $ 128,112 Current liabilities 1,714 3,301 Long-term debt 154 205 Shareholders' equity 113,547 124,606 Total liabilities and shareholders' equity $ 115,415 $ 128,112 ESSA PHARMA INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS Unaudited Amounts in thousands of United States dollars, except share and per share data Three months ended March 31, 2025 Three months ended March 31, 2024 Six months ended March 31, 2025 Six months ended March 31, 2024 OPERATING EXPENSES Research and development $ 3,484 $ 6,178 $ 8,959 $ 11,555 General and administration 3,897 4,316 8,108 6,533 Total operating expenses (7,381) (10,494) (17,067) (18,088) Interest and other items 1,007 1,504 2,160 3,134 Net loss for the period (6,374) (8,990) (14,907) (14,954) OTHER COMPREHENSIVE LOSS Unrealized gain (loss) on short-term investments (18) (1) (27) 19 Net loss and comprehensive loss for the period $ (6,392) $ (8,991) $ (14,934) $ (14,935) Basic and diluted loss per common share $ (0.14) $ (0.20) $ (0.34) $ (0.34) Weighted average number of common shares outstanding 44,388,550 44,237,124 44,388,550 44,183,013
Yahoo
14-04-2025
- Business
- Yahoo
Discovery Education Honored As Education Company of the Year by EdTech Chronicle
CHARLOTTE, NC / / April 14, 2025 / Discovery Education has been named the Education Company of the Year by the Best in Education Awards 2024 from EdTech Chronicle. The Best in Education Awards recognize the top companies, leaders, and services in the education technology industry in 2024. Discovery Education is the creator of essential K-12 learning solutions used in classrooms around the world. Serving approximately 4.5 million educators and 45 million students worldwide, Discovery Education helps educators deliver powerful learning experiences that engage all students and support higher academic achievement on a global scale. A few highlights from 2024 include: Stronger Career Connections: Career Connect launched in January to facilitate virtual classroom visits from industry professionals based on job types, industries, language preferences, and location. Educators can request that a professional from one of Discovery Education's strategic partners visit their classroom to discuss their career paths and professions. Partners include organizations such as DuPont, Genentech, Norton, Nucor, Prologis, Trane Technologies, US Bank, and more. Career Connect is available to all users of Discovery Education Experience, the essential companion for engaged K-12 classrooms that inspires teachers and motivates students. Immersive Learning: In March, Sandbox AR surpassed the 1 million download milestone in the Apple iTunes store and is now available on Google Play. This free augmented reality "maker" app brings immersive technology and content into the classroom. Within Sandbox AR, users can create virtual worlds and populate them with hundreds of unique objects from history, the built world, science, nature, and more. ESSA Certifications: In June, DreamBox Math was certified as meeting the rigorous, evidence-based standards set forth by the Every Student Succeeds Act (ESSA) for Tier I, II, III, and IV. Learn more about all of Discovery Education's ESSA certifications and supporting research here. Mystery Writing Introduced to Educators: Also in June, Discovery Education launched Mystery Writing. Mystery Writing engages students in grades K-5 with "wow!" content that captivates young learners and builds their confidence in writing. Featuring no prep, open-and-go lessons, Mystery Writing helps multi-subject elementary educators quickly and easily provide students with differentiated lessons that explicitly teach the writing process. Mystery Writing's innovative approach combines subjects of high interest to students with step-by-step written, visual, and auditory directions to ensure no young writer experiences the dreaded "fear of the blank page." Research Insights: In October, the Education Insights Report by Discovery Education was released, revealing key areas of opportunity for addressing the most pressing issue facing educators today: student engagement. The report-which was based on survey data collected by The Harris Poll-found that curiosity is important to everyone, students want to learn more life skills, teachers see promise in adaptive learning resources, and much more. Read the full report here. Milestone Reached in STEM Education: Also in October, the STEM Careers Coalition surpassed its goal of reaching 10 million students by the end of 2025, a year ahead of schedule. Since 2019, the STEM Careers Coalition has reached over 11 million students, including 2.97 million in the 2023-2024 school year alone, 65% of which are from Title I schools. The Coalition works to prepare all students for future jobs in STEM, developing the skills and knowledge needed to succeed in college and a career through high-quality classroom resources, career exploration tools, after school activities, digital content, and more. The STEM Careers Coalition features a range of industry partners including LyondellBassell, Nucor, Prologis, United Airlines, and many more. Otus Partnership: Discovery Education's new strategic partnership with Otus, the leading K-12 assessment, data, and insights solution, was announced in November and is aimed at maximizing student achievement nationwide through the powerful combination of engaging content and state-of-the-art data analytics. Through this collaboration, Otus is now Discovery Education's preferred platform for assessment, data, and learning insights. "We are deeply honored to be named the Education Company of the Year by EdTech Chronicle. This recognition reflects the incredible work of our team and our unwavering commitment to supporting educators and students around the world," said Brian Shaw, Chief Executive Officer of Discovery Education. "At Discovery Education, we believe in the power of technology to accelerate student growth, scale teacher impact, and motivate learning, and we are proud to be at the forefront of the mission to prepare all learners for success beyond graduation. Thank you to the EdTech Chronicle for this meaningful acknowledgment." Learn more about the Best in Education Awards 2024 here. For more information about Discovery Education's award-winning digital resources and professional learning solutions, visit and stay connected with Discovery Education on social media through X, LinkedIn, Instagram, TikTok, and Facebook. ### About Discovery EducationDiscovery Education is the worldwide edtech leader whose state-of-the-art, K-12, digital solutions support learning wherever it takes place. Through award-winning multimedia content, instructional supports, innovative classroom tools, and strategic alliances, Discovery Education helps educators deliver powerful learning experiences that engage all students and support higher academic achievement on a global scale. Discovery Education serves approximately 4.5 million educators and 45 million students worldwide, and its resources are accessed in over 100 countries and territories. Through partnerships with districts, states, and trusted organizations, Discovery Education empowers teachers with essential edtech solutions that inspire curiosity, build confidence, and accelerate learning. Explore the future of education at ContactsGrace MaliskaDiscovery EducationEmail: gmaliska@ View additional multimedia and more ESG storytelling from Discovery Education on Contact Info:Spokesperson: Discovery EducationWebsite: info@ SOURCE: Discovery Education View the original press release on ACCESS Newswire
Yahoo
14-04-2025
- Politics
- Yahoo
The Every Student Succeeds Act Turns 10 This Year. Why I Won't Be Celebrating
This year marks the 10-year anniversary of the Every Student Succeeds Act. I predict there won't be any grand celebrations. That's because ESSA is proving to be a weak law. Although it was hailed at the time for its bipartisan nature and called 'the largest devolution of federal control to the states in a quarter-century,' student achievement has fallen dramatically, especially for the lowest-performing youngsters. Part of the problem is that ESSA doesn't have the same muscular elements as its predecessor, the No Child Left Behind Act. It's a pretty damning comparison: NCLB required states to hold districts accountable for their results; it paid close attention to low-performing student subgroups; and it included other improvement efforts like school choice, tutoring and a $1 billion reading program. ESSA has none of those things. This lack of ambition probably helped it win widespread bipartisan support when it passed, and also why it has led to student achievement declines. Related Admittedly, this is an awkward point to be making at the current moment. At the national level, the Trump administration is doing everything in its power to kill the U.S. Department of Education and hand full control of education back to the states. Meanwhile, Democrats like Sen. Elizabeth Warren are responding by defending the status quo with chants like 'Save our Schools.' But history suggests neither deregulation nor blind support for the current federal-state relationship is the right approach. And with state leaders seeking waivers for even less oversight over their use of federal funds, now is the time to start thinking about what a better accountability framework might look like. Here are five places to start: The Trump administration wants to send even more control back to the states with 'no-strings-attached formula block grants.' But that seems unwise, given the achievement declines most states have experienced over the last decade (many of which preceded COVID). More importantly, it wouldn't make sense to offer the same flexibilities to, say, Maine or Oregon, where scores have declined rapidly over the last decade, as to Mississippi, which has dramatically improved outcomes for kids. Different states deserve different levels of earned autonomy. Andy Smarick, Kelly Robson and I outlined this approach in a 2015 report we called 'Pacts Americana.' We envisioned a set of federal-state compacts where each state established ambitious student performance goals and developed a comprehensive plan for reaching them. In exchange, states would be freed from strict federal rules on how to identify low-performing schools and the specific steps for improvement those schools must take, and the government would monitor the results. The feds could then extend the length of compacts with states that make progress and ask those where performance has stalled to revisit their plans. Related ESSA has some elements of this framework. Nominally, states are in charge of writing their own plans and the feds are responsible for oversight. But the states would tell you the feds are too strict on what's allowable and what's not. More importantly, that process ignores student results, and performance can — and has — stalled without any impetus for change. Whereas NCLB had both school and district accountability components, ESSA focuses solely on schools. That turned out to be a huge mistake. The school-level emphasis was fundamentally flawed. After all, district leaders control the budget, adopt the school calendar, negotiate major contracts and determine pay schedules. In other words, district leaders should be blamed if a school doesn't have the resources it needs to succeed. The nation saw this play out during COVID. It wasn't teachers or principals who set COVID policies, yet the national education law ignored the district role and instead required states to focus on individual schools. That made no sense — and it was borne out in the data. The latest Education Recovery Scorecard report found achievement gaps within the same districts stayed about the same during the course of the pandemic. Meanwhile, achievement gaps between districts grew substantially. Why? Because the districts were making different decisions. As a research team led by Dan Goldhaber found, 'In districts that went remote, achievement growth was lower for all subgroups, but especially for students attending high-poverty schools. In areas that remained in person, there were still modest losses in achievement, but there was no widening of gaps between high and low-poverty schools.' That is, district decisions over how to handle COVID, not COVID itself, were what caused gaps to grow. Going forward, districts, not schools should be the primary unit of accountability. American society is becoming more diverse, and old categories of race and ethnicity are becoming harder to neatly measure and define. It's not that the U.S. has suddenly become colorblind or that race doesn't matter, but policies haven't caught up to the fact that people who identify as multiracial are the fastest-growing group in the country. Moreover, there's wide variation in which children are identified as having disabilities. Related These categories are also less salient in education than they once were. While there's been tremendous growth in the gap between the highest- and lowest-achieving students, who those students are has changed. Yes, the bottom has fallen out for children in traditionally low-performing subgroups, but it has fallen even faster for native English speakers, students without disabilities and those who do not live in poverty. As such, policymakers should follow the lead of states like Florida and Mississippi, which specifically look at how the bottom 25% of students are doing, regardless of their race, ethnicity or disability status. Those kids rely on public schools the most, they're struggling right now and it's where the policy focus should be going forward. ESSA requires states to share results with families 'as soon as is practicable' after standardized tests are administered. But reporting has actually gotten slower over time. Even with the shift to digital exams, states take longer to process the scores than they did two decades ago. That's inexcusable. States could speed this up on their own, or the feds could step in and define 'as soon as practicable' to be no more than, say, two weeks after the test. That's the standard in the private sector, and there's no reason it can't be met in public education. Did you know that all students in low-performing public schools once had access to free after-school tutoring? Or that all families in low-performing schools once had the right to transfer to another public school of their choice? Related Both these programs existed under NCLB. They had flaws, for sure, and school districts tended to hate them, but they pressured schools to improve, and thousands of families took advantage of them each year. Congress should consider bringing back these other forms of accountability too. This is far from a comprehensive list of all the things that need to improve with current accountability systems, but it's not enough to shout 'local control' or defend the status from both sides of the aisle need to reckon with the current state of public education and articulate a vision for the future that matches that reality.
