Esperion (ESPR) Reports Wider-Than-Expected Loss In Q3
Zacks Investment Research | Nov 06, 2019 11:04PM ET
Esperion Therapeutics, Inc. (NASDAQ:ESPR) incurred a loss of $2.52 per share in the third quarter of 2019, wider than the Zacks Consensus Estimate of $2.01. The company had incurred loss of $1.86 per share in the year-ago period.
The company generated revenues of $1.01 million, almost in line with the Zacks Consensus Estimate. Revenues were mainly attributable to initial recognition of the upfront payment related to the commercial agreement with Daiichi Sankyo Europe which Esperion signed in January. The agreement grants exclusive rights to Daiichi Sankyo to commercialize Esperion’s bempedoic acid and the bempedoic acid/ Merck’s (NYSE:MRK) Zetia combination pill in Europe and Switzerland, following their potential approval.
Esperion is seeking approval for bempedoic acid pill and bempedoic acid/Zetia combination pill as a treatment for elevated LDL-C (bad cholesterol) in hypercholesterolemia patients.
Esperion’s shares have declined 18.9% so far this year against the announced top-line data from the phase II study evaluating a combination of bempedoic acid and Zetia. Data showed that the combination regimen met the study’s primary endpoint of LDL-C (bad cholesterol) reduction. The combination regimen lowered LDL-C levels by 40% compared to placebo over the 12-week treatment period.
In September, the company completed enrollment in the CLEAR cardiovascular outcomes study. The study is evaluating bempedoic acid for occurrence of major cardiovascular events in statin averse patients with or at high-risk of cardiovascular disease.
Earlier this year, Esperion had submitted regulatory applications seeking approval for bempedoic acid monotherapy and bempedoic acid/Zetia combination pill for treating hypercholesterolemia in the United States and Europe. A decision from the FDA is expected in February 2020 and a decision in Europe is expected in the second quarter of 2020.
Esperion Therapeutics, Inc. Price, Consensus and EPS Surprise
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