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 successful completion of the landmark CLEAR Outcomes trial, achieving significant primary and key secondary endpoints in cardiovascular risk reduction for patients treated with NEXLETOL. In Q4 2022, the company reported U.S. net sales of $15 million, a 23% increase year-over-year, contributing to full-year net sales of $56 million, representing 40% growth. Selling, general, and administrative expenses were reduced by 41%, while research and development costs rose due to increased CVOT expenses. Despite these gains, Esperion reported a net loss of $55.5 million for Q4 2022, marking a smaller loss than the previous year. Cash reserves stood at $166.9 million.
Esperion (NASDAQ: ESPR) announced that NEXLETOL® (bempedoic acid) has successfully met its primary endpoint of reducing major adverse cardiovascular events (MACE-4) in the CLEAR Outcomes trial. This trial will be showcased as a late-breaking clinical trial at the American College of Cardiology’s Annual Scientific Session on March 4, 2022. The study involved patients with statin intolerance at high cardiovascular risk, highlighting the innovative oral non-statin therapy's potential. NEXLETOL is indicated to lower LDL-C levels and is particularly significant for patients requiring additional therapy beyond statins. Key safety information includes risks of hyperuricemia and tendon rupture.
Esperion (NASDAQ: ESPR) announced the grant of 16,500 restricted stock units (RSUs) to six new employees on February 13, 2023. This grant falls under the 2017 Inducement Equity Incentive Plan, aimed at attracting individuals not previously employed by the company. The RSUs will vest 25% on the one-year anniversary of their commencement date, with the remaining 75% vesting in equal quarterly installments, contingent on continued employment. Esperion focuses on cholesterol management, developing convenient oral medications to lower LDL-cholesterol for patients unserved by existing treatments.
Esperion (NASDAQ: ESPR) will announce its fourth quarter and full year 2022 financial results on February 21, 2023, before U.S. market open. Following the announcement, management will host a webcast and conference call at 8:00 a.m. ET to discuss the results and upcoming milestones. Investors can pre-register for the call and access a live webcast on the company’s investor section. The replay will be available shortly after the call and archived for 90 days. Esperion focuses on developing innovative cholesterol-lowering therapies, aiming to provide solutions for patients with unmet needs.
Esperion Therapeutics has secured a multi-year partnership with RFK Racing, which will see its cholesterol-lowering treatments, NEXLIZET and NEXLETOL, showcased in the upcoming NASCAR season.
NEXLIZET will debut on Brad Keselowski's No. 6 Ford during the Daytona 500 on February 19, while NEXLETOL will be featured on Chris Buescher's No. 17 Ford throughout the season.
Esperion aims to raise brand awareness and educate consumers on cardiovascular health through this collaboration.
Esperion (NASDAQ: ESPR) reported preliminary Q4 2022 U.S. net product revenue between $14.4 million and $15.1 million, reflecting a 38%-40% year-over-year growth. The company anticipates global regulatory submissions based on robust CLEAR Outcomes data in 1H 2023, potentially leading to milestone payments upon approvals. Esperion has also partnered with RFK Racing to boost brand awareness and engage with a wider audience. The firm aims to enhance cardiovascular outcomes through its bempedoic acid franchise, targeting patients struggling with LDL cholesterol management.
Esperion (NASDAQ: ESPR) announced that their CLEAR Outcomes trial will present positive results at the ACC.23/WCC conference on March 4, 2023. Bempedoic acid, an oral non-statin drug, is the first ATP citrate lyase inhibitor to meet the MACE-4 primary endpoint, showcasing its potential to reduce LDL-C and cardiovascular risks for patients intolerant to statins. The trial involved over 14,000 patients across 32 countries, highlighting significant clinical impact amidst recent unsuccessful studies. Esperion anticipates strong interest from healthcare providers.
Esperion announced on December 9, 2022, the granting of 5,600 restricted stock units (RSUs) to two new employees under its 2017 Inducement Equity Incentive Plan. This plan is designed for individuals who are new hires and was established in accordance with NASDAQ Listing Rules. The RSUs will vest over a four-year period, with 25% vesting on the one-year anniversary of the grant and the remaining 75% vesting quarterly thereafter, contingent on continued employment. Esperion focuses on developing innovative cholesterol-lowering therapies.
Esperion (NASDAQ: ESPR) will present at two significant healthcare events: the J.P. Morgan 41st Annual Healthcare Conference and the LifeSci Partners 12th Annual Corporate Access Event, from January 9-11, 2023, in San Francisco, California.
At the J.P. Morgan Conference, CEO Sheldon Koenig will present and engage in 1x1 investor meetings on January 11 at 1:30 PM PT. The LifeSci event will also feature Koenig along with CFO Ben Halladay and CMO JoAnne Foody hosting investor meetings on January 9-10.
Esperion announced that its CLEAR Outcomes trial for bempedoic acid successfully met its primary endpoint. The trial demonstrated a statistically significant reduction in major adverse cardiovascular events (MACE-4) among patients treated with 180 mg/day of NEXLETOL compared to placebo. This makes bempedoic acid the first ATP citrate lyase inhibitor to achieve such results. The study involved over 14,000 patients across 32 countries, addressing the need for effective treatments in patients unable to tolerate statins. Comprehensive data will be presented at a key medical conference in early 2023.
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