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) has successfully completed a registered direct offering of 33,170,747 shares of common stock and associated short-term warrants, generating approximately $56.7 million in gross proceeds. Each share was priced at $1.675, alongside a warrant with an exercise price of $1.55 per share, valid for three and a half years. The funds will be utilized for general corporate purposes. H.C. Wainwright & Co. served as the exclusive placement agent. Additionally, existing warrants from December 2021 have been amended to lower the exercise price to $1.55, expiring three and a half years post-offering.
Esperion has entered a definitive agreement to issue 33,170,747 shares of common stock and short-term warrants in a registered direct offering, priced at $1.675 per share. The total expected gross proceeds are approximately $56.7 million, intended for general corporate purposes. The warrants will be exercisable at $1.55, expiring in three and a half years. H.C. Wainwright & Co. is the exclusive placement agent. Additionally, the company will amend existing warrants from December 2021, lowering their exercise price from $9.00 to $1.55, to enhance attractiveness. The offering is expected to close on March 22, pending customary conditions.
The International Lipid Expert Group (ILEP) has published new recommendations advancing the use of bempedoic acid in managing atherosclerotic cardiovascular disease (ASCVD) and statin intolerance. The guidance suggests utilizing bempedoic acid before injectable therapies for patients with elevated LDL-C levels. Esperion, the company behind the drug NEXLETOL, anticipates these recommendations will drive its adoption in treatment protocols. The ILEP recommends a combination treatment approach for patients at high cardiovascular risk, prioritizing bempedoic acid in specific lipid management scenarios.
Esperion Therapeutics announced significant findings from the CLEAR Outcomes trial, showing that NEXLETOL reduced major adverse cardiovascular events by 13% (P=0.004) and myocardial infarction by 23% (P=0.002) in patients unable to maximize statin therapy. These results position NEXLETOL as a leading therapy for primary and secondary prevention of cardiovascular disease. The company anticipates regulatory submissions in 1H 2023, potentially earning up to $440 million in milestone payments. This study highlights the therapy's benefits, with detailed results published in the New England Journal of Medicine.
Esperion Therapeutics has launched esperionscience.com, a new website aimed at the scientific and medical community. The site provides detailed information about Esperion's CLEAR Outcomes Study, clinical trials, and the company’s pipeline for cardiometabolic diseases. Chief Medical Officer, JoAnne Foody, emphasized the commitment to advance lipid-lowering science for diverse populations. The website also features clinical trial data, educational videos, and resources for healthcare providers, reinforcing Esperion's dedication to improving patient outcomes in cardiovascular health.
Esperion (NASDAQ: ESPR) announced that Sheldon Koenig, its CEO, will present at Cowen’s 43rd Annual Health Care Conference on March 8, 2023, at 9:10 AM ET. Interested parties can register for the live webcast via the provided link. The webcast replay will be accessible two hours after the event and archived for 90 days. Esperion is committed to developing innovative treatments for cardiovascular and cardiometabolic diseases.
Esperion (NASDAQ: ESPR) will host a conference call on March 6, 2023, at 8:00 a.m. EST to discuss the results from the CLEAR Outcomes study, being presented at the ACC.23/WCC on March 4, 2023. Dr. JoAnne Foody, Chief Medical Officer, and Dr. Steven Nissen, Principal Investigator, will lead the discussion. Participants can pre-register for the call and obtain dial-in information through the provided link. The call will also be available as a replay on the company's investor relations website for 90 days following the event. Esperion focuses on developing innovative treatments for cardiovascular diseases, particularly high cholesterol management.
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.
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