Sept 11 (Reuters) - Essa Pharma Inc EPI.TO
* Essa Pharma announces results from the phase 1 clinical trial of epi-506 for treatment of MCRPC and updates clinical and strategic plans
* Confirmed EPI-506 is well-tolerated with a favorable safety profile
* Essa initiates corporate restructuring to refocus research and development efforts
* Makes strategic decision to prioritize Aniten program for MCRPC over further clinical development of epi-506
* Corporate restructuring associated with updated clinical plan expected to lower capex in fiscal 2018 by about $7 million versus fiscal 2017
* Anticipates that its current resources are sufficient to support planned operations into fourth calendar quarter of 2017
* Essa will discontinue further clinical development of EPI-506
* Will implement a corporate restructuring plan to focus research and development resources on its next-generation Anitens targeting AR-NTD