Esperion Therapeutics Inc (NASDAQ:ESPR) just announced completion of the Phase 3 LDL-C Lowering Development Program of bempedoic acid and positive cumulative results. The stock gapped up and then traded off in what was another very difficult trading tape in terms of rewards for companies releasing strong data. The best longside investors can do is take note of the data at this point.
According to the release, “The program consisted of four, pivotal, Phase 3, randomized, double-blind, placebo controlled studies to evaluate the LDL-C lowering efficacy and safety and tolerability of bempedoic acid 180 mg compared to placebo in high cardiovascular risk patients including atherosclerotic cardiovascular disease (ASCVD) and/or heterozygous familial hypercholesterolemia (HeFH) patients. The Phase 3 program included 3,621 high cardiovascular risk patients taking maximally tolerated statin (which could include no statin) who required additional LDL-C lowering. The Program achieved its efficacy endpoints and other key measures at 12 weeks for bempedoic acid.”
Esperion Therapeutics Inc (NASDAQ:ESPR) promulgates itself as a lipid management company that focuses on developing and commercializing oral therapies for the treatment of patients with elevated low density lipoprotein cholesterol (LDL-C).
The company’s lead product candidate is bempedoic acid/ezetimibe combination pill, a non-statin, orally available, LDL-C lowering therapy for patients with hypercholesterolemia and with atherosclerotic cardiovascular disease, and/or heterozygous familial hypercholesterolemia that is in Phase III long-term safety and tolerability study.
Esperion Therapeutics, Inc. was founded in 2008 and is headquartered in Ann Arbor, Michigan.
According to company materials, “Esperion is the Lipid Management Company passionately committed to developing and commercializing convenient, complementary, cost-effective, once-daily, oral therapies for the treatment of patients with elevated LDL-C. Through scientific and clinical excellence, and a deep understanding of cholesterol biology, the experienced Lipid Management Team at Esperion is committed to developing new LDL-C lowering therapies that will make a substantial impact on reducing global cardiovascular disease; the leading cause of death around the world. Bempedoic acid and the company’s lead product candidate, the bempedoic acid / ezetimibe combination pill, are targeted therapies that have been shown to significantly lower elevated LDL-C levels in patients with hypercholesterolemia, including patients inadequately treated with current lipid-modifying therapies.”
As we discussed earlier, ESPR just announced completion of the Phase 3 LDL-C Lowering Development Program of bempedoic acid and positive cumulative results.
The announcement helped to spark a relief rally in a context of recent action that hasn’t been particularly fun for ESPR shareholders. Over the past week, shares of the stock have suffered from clear selling pressure, dropping by roughly -14% even with the push higher on the news.
Esperion initiated its global, pivotal, Phase 3 clinical development program in January 2016 to evaluate the safety, tolerability and consistent, complementary LDL-C-lowering efficacy of bempedoic acid and the bempedoic acid / ezetimibe combination pill in patients with atherosclerotic cardiovascular disease (ASCVD), or who are at a high risk for ASCVD, with hypercholesterolemia who continue to have elevated levels of LDL-C despite the use of maximally-tolerated statins and ezetimibe, leaving them at high risk for cardiovascular events. The program includes five studies in approximately 4,000 patients, four for bempedoic acid and one for the bempedoic acid / ezetimibe combination pill.
Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -11%.
Esperion Therapeutics Inc (NASDAQ:ESPR) had no reported sales in its last quarterly financial data. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($180.2M against $35M).