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.
NILEMDO® (bempedoic acid) and NUSTENDI® (bempedoic acid and ezetimibe) have received Swissmedic approval, marking a significant addition to cholesterol-lowering therapies in Switzerland. These treatments, which represent the first oral, once-daily options in nearly two decades, aim to assist patients struggling to reach their LDL-C targets. Approximately two-thirds of patients with high cardiovascular risk in Switzerland fail to meet these targets, underscoring the demand for additional therapies. Both products were initially approved in the EU and the US earlier this year.
Esperion (NASDAQ: ESPR) announced the appointment of Sheldon Koenig as Chief Operating Officer, effective immediately. With over 25 years of experience in the cardiovascular market, Koenig previously served at Portola Pharmaceuticals, achieving over $130M in Andexxa sales in its first year. He also held leadership roles at Sanofi and Merck. Koenig will lead Esperion's commercial team, succeeding Mark Glickman, who has exited the company. This strategic change aims to enhance Esperion's potential in delivering innovative LDL-C lowering medicines, especially for statin-averse patients.
Esperion announced significant results from pooled analyses of its Phase 3 trials for NEXLETOL (bempedoic acid), presented at AHA 2020. The drug showed a mean LDL-C reduction of 26.5% against placebo in statin-intolerant patients after 12 weeks. In analyses by sex, females experienced a 27.7% lowering, while males saw 22.1%. Generally, bempedoic acid was well tolerated. NEXLETOL, the first oral, once-daily non-statin LDL-C-lowering medication in nearly 20 years, received FDA approval in February 2020.
Esperion (NASDAQ: ESPR) announced a pricing increase of its offering, totaling $250 million in 4.00% Convertible Senior Subordinated Notes due 2025, up from a previous $200 million. The notes offer a conversion rate of 30.2151 shares per $1,000, with an initial price of approximately $33.10 per share. Expected settlement is on November 16, 2020. Proceeds are estimated at $241.8 million, aimed at capped call transaction costs and general corporate purposes. The offering is exclusively for qualified institutional buyers under Rule 144A.
Esperion announced a private offering of $200 million in Convertible Senior Subordinated Notes due 2025 to qualified institutional buyers. The offering may include an additional $30 million. The notes will be unsecured and subordinated, with an interest rate to be determined. They can convert into cash or shares at Esperion’s discretion. The company plans to use proceeds for capped call transactions, a prepaid forward stock purchase, and general corporate purposes. The notes will not be registered under the Securities Act and are only available to qualified buyers.
Esperion (NASDAQ: ESPR) announced on November 4, 2020, the grant of 33,663 restricted stock units (RSUs) to 24 new colleagues under its 2017 Inducement Equity Incentive Plan. This plan aims to attract new employees, with RSUs vesting 25% on the first anniversary and the remaining 75% in quarterly installments. The company focuses on reducing LDL-C levels to combat cardiovascular diseases, addressing the needs of 96 million Americans with elevated LDL-C. Forward-looking statements caution potential risks including delays in clinical development and market performance.
ESPERION (NASDAQ:ESPR) reported a remarkable third quarter 2020, highlighting over 500% script growth for NEXLETOL® and NEXLIZET®. U.S. product revenue surged to $3.8 million, up from $1.0 million in Q3 2019. Despite COVID-19 challenges, the company noted significant medical community recognition, with its products included in updated lipid guidelines. Additionally, Daiichi Sankyo Europe launched NILEMDO™ and NUSTENDI™ in Germany, expanding their European reach. However, ESPERION recorded a net loss of $85.4 million for the quarter, an increase from $68.4 million year-over-year.
Esperion (NASDAQ: ESPR) announced participation in three virtual conferences in November 2020. Key events include the Credit Suisse 29th Annual Virtual Healthcare Conference on November 9 at 2:00 p.m. ET, the Stifel Virtual Healthcare Conference on November 17 at 8:40 a.m. ET, and the Jefferies Virtual London Healthcare Conference on November 18 at 9:40 a.m. ET. Each conference will feature a fireside chat and 1:1 investor meetings. Webcasts will be available on the company's investor relations site and archived for 90 days.
Esperion (NASDAQ: ESPR) is set to announce its third quarter 2020 financial results on November 2, 2020, after market close. Following the announcement, management will hold a conference call at 4:30 p.m. ET to discuss the outcomes and business developments. The call can be accessed by dialing the specified numbers, and a live audio webcast will be available on their investor website. Esperion is focused on developing oral LDL-C lowering medications to address cardiovascular disease, which affects a significant portion of the U.S. population.
Esperion (NASDAQ: ESPR) announced positive results from pooled data at the EAS 2020 Congress, showing NEXLETOL® (bempedoic acid) achieved a 22% mean reduction in LDL-C levels for patients with Heterozygous Familial Hypercholesterolemia (HeFH) after 12 weeks. The trials included over 3,000 patients and highlighted that many HeFH patients do not achieve adequate LDL-C lowering despite existing therapies. NEXLETOL, the first oral non-statin LDL-C lowering medication approved in nearly 20 years, was noted for its tolerability and lack of new safety signals.
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