Welcome to our dedicated page for Esperion Therapeutics news (Ticker: ESPR), a resource for investors and traders seeking the latest updates and insights on Esperion Therapeutics stock.
Esperion Therapeutics, Inc. (NASDAQ: ESPR) is a leading pharmaceutical company specializing in the development and commercialization of innovative, first-in-class, oral therapies aimed at lowering low-density lipoprotein cholesterol (LDL-C). The company's flagship product, ETC-1002, is a potent inhibitor of ATP citrate lyase, an enzyme integral to the cholesterol biosynthesis pathway. This pathway also includes HMG-CoA reductase, the enzyme targeted by statins.
Esperion has made significant progress with ETC-1002, completing Phase 1 and Phase 2 clinical trials, and is set to initiate Phase 3 trials. The company's product lineup includes NEXLETOL and NEXLIZET, both of which are oral, once-daily, non-statin medications designed to tackle elevated LDL-C levels. These drugs have recently received expanded FDA approval for cardiovascular risk reduction and are indicated for both primary and secondary prevention patients.
In recent news, Esperion announced that both NEXLETOL and NEXLIZET have received broad new label expansions. These labels now cover cardiovascular risk reduction and expanded LDL-C lowering, either alone or in combination with statins. This approval allows over 70 million patients to access these life-saving drugs, positioning them as the non-statin drugs of choice for cardiovascular risk management.
Esperion is also ramping up its marketing and promotional efforts, enhancing patient support programs, and working with payers to improve patient access. The company is committed to breaking barriers in cardiovascular care and continues to focus on underserved populations, including women and Hispanic/Latinx patients, as demonstrated by their recent CLEAR Outcomes trial.
The company's forward-looking strategy includes ongoing clinical development, financial management, and expansion into new markets. Esperion's dedication to transforming cardiovascular care is evident in its robust pipeline and strategic initiatives aimed at addressing critical unmet medical needs.
Esperion (NASDAQ: ESPR) announced a privately negotiated exchange agreement with two holders of its 4.00% Convertible Senior Subordinated Notes due 2025, exchanging $15 million of notes for common stock. The exchange will close on November 3, 2021, subject to conditions, with share issuance based on a volume-weighted average price floor of $5.62. This move aims to reduce cash interest expenses and improve the company’s balance sheet as it anticipates upcoming study results.
Esperion (NASDAQ: ESPR) announced a significant restructuring, reducing its workforce by 40% to enhance operational efficiency in response to challenges posed by the COVID-19 pandemic. This move aims to better support the company's growth strategy for its cholesterol medications, NEXLETOL and NEXLIZET, while focusing on a digital marketing approach. Esperion projects annualized cash savings of at least $80 million and has revised its operating expenses for FY 2021, estimating a reduction of $20 million from previous guidance, alongside a preliminary net product revenue of $10.5 to $11 million for Q3 2021.
Esperion (NASDAQ: ESPR) will report its third-quarter 2021 financial results on November 2, 2021, prior to the U.S. market opening. Following the earnings release, a webcast and conference call will be held at 8:00 a.m. ET to discuss the results and business developments. Investors can join the call by dialing (877) 831-3840 for domestic calls or (253) 237-1184 for international participants. The call will also be available via a live audio webcast on the company's investor section of their website.
Esperion (NASDAQ: ESPR) has announced an investor webinar scheduled for September 13, 2021, at 1:30 PM ET, focusing on elevated cholesterol treatment during National Cholesterol Awareness Month. The event will feature Dr. Steven Nissen, a leading cardiologist from the Cleveland Clinic, discussing current treatment paradigms, guidelines, and the importance of cardiovascular outcomes trials. The format includes an educational dialogue with Esperion's new Chief Medical Officer, Dr. JoAnne Foody, followed by a Q&A session. Registration is limited to investors.
Esperion (NASDAQ: ESPR) will participate in the Morgan Stanley 19th Annual Global Healthcare Conference on September 9, 2021, at 2:00 p.m. ET. The event will feature a Fireside Chat and 1:1 Meetings. Live audio webcasts will be available on the investor relations section of the Esperion website, with replays archived for 90 days. Esperion is dedicated to lipid management and aims to provide innovative medicines to lower cholesterol for patients with unmet medical needs.
ESPERION reported a 67% sequential increase in U.S. net product revenue to $10.6 million for Q2 2021, driven by higher demand for NEXLETOL® and NEXLIZET®. Prescriptions grew 28%, with over 47,800 patients filling prescriptions. Despite these gains, total revenue decreased to $40.7 million primarily due to reduced collaboration revenue. The company reported a net loss of $43.7 million for the quarter, a significant decline from a net income of $124.6 million in 2020. Research and development expenses were $25.1 million, while total operating expenses are projected at $320 million to $340 million for 2021.
Esperion (NASDAQ: ESPR) announced that CEO Sheldon Koenig will participate in the BTIG Virtual Biotechnology Conference on August 9, 2021. The event will feature a Fireside Chat format scheduled for 11:30 a.m. ET. Live audio webcasts can be accessed via the investor relations section on Esperion's website, with replays available for 90 days post-event. Esperion focuses on lipid management, developing innovative cholesterol-lowering therapies to meet unmet patient needs.
Esperion (NASDAQ: ESPR) announced that it will release its second quarter 2021 financial results on August 3, 2021, before U.S. market opening. Following the announcement, a conference call and webcast will be held at 8:00 a.m. ET to discuss the financial outcomes and business developments. Participants can join by calling specific numbers or accessing the live audio webcast on Esperion's investor site. Esperion focuses on innovative cholesterol-lowering medications, commercializing NEXLETOL and NEXLIZET.
Esperion (NASDAQ: ESPR) announced the granting of stock options and restricted stock units (RSUs) to 31 new employees on June 28, 2021. The total options granted amounted to 88,692 shares, awarded primarily to the new Chief Medical Officer, JoAnne Foody. Additionally, 99,313 RSUs were allocated, with 62,528 going to Ms. Foody. The options have an exercise price of $22.52 per share, equal to the stock's closing price on the grant date. These equity awards are part of the 2017 Inducement Equity Incentive Plan aimed at attracting new talent.
ESPERION has announced the appointment of JoAnne Micale Foody, MD, as its new Chief Medical Officer. This strategic hire aims to enhance the company's leadership in cardiovascular care, particularly in advancing the CLEAR Outcomes trial and its PCSK9 inhibitor program. Dr. Foody brings over 20 years of experience in cardiology and has held significant positions at Johnson & Johnson. Her expertise is expected to bolster ESPERION's capabilities in clinical development and medical affairs, which is critical as the company works to improve cholesterol management therapies.
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