Shares of Esperion Therapeutics, Inc. (NASDQ: ESPR) below -3.84% and ended at $66.43. The stock’s market capitalization arrived at $1.76B and total traded volume was 525,595 shares. The stock has a 52-week highest price of $82.68 and its 52-week lowest price was called at $30.95. During last trade, its maximum trading price was registered $68.96 and it’s the minimum trading price was noted $65.53.
Esperion (ESPR), the Lipid Management Company focused on developing and commercializing complementary, convenient, cost-effective, once-daily, oral therapies for the treatment of patients with elevated low density lipoprotein cholesterol (LDL-C), recently provided bempedoic acid franchise development program updates and financial results for the fourth quarter and full year ended December 31, 2017.
“The past year was important and reflective of the meaningful progress made by our Lipid Management Team through the achievement of positive regulatory interactions, clinical trial execution resulting in rapid patient enrollment in the global pivotal Phase 3 program for bempedoic acid and the bempedoic acid / ezetimibe combination pill, and completion of a follow-on public offering funding our programs through the predictable authorization s for an LDL-C lowering indication,” stated Tim Mayleben, president and chief executive officer of Esperion. “With the first of our Phase 3 studies predictable to report top-line results in March, we are confident 2018 will be the most transformational and defining year in our company’s history. We look forward to reporting top-line results from all five pivotal Phase 3 studies of the bempedoic acid franchise throughout this very exciting year.”
ESPR price volatility for a month noted as 6.00% however its price volatility for a week documented as 6.45%. The corporation holds 27.56 million outstanding shares and its 24.55 million shares were floated in the market. The stock established a negative trend of -8.16% in last week and indicated fall of -12.92% in previous month.
2017 Fourth Quarter and Full-Year Financial Results
As of December 31, 2017, cash and cash equivalents and investment securities available-for-sale totaled $273.6M contrast with $242.5M at December 31, 2016.
Research and development expenses were $33.4M for the fourth quarter of 2017 and $147.6M for the year ended December 31, 2017, contrast to $24.9M and $57.9M for the comparable periods in 2016. The raise in research and development expenses was primarily related to the further clinical development of the bempedoic acid / ezetimibe combination pill and bempedoic acid, including costs to support the global pivotal Phase 3 studies, the CVOT, and further raises in our headcount and stock-based compensation expense.
General and administrative expenses were $5.3M for the fourth quarter of 2017 and $21.4M for the year ended December 31, 2017, contrast to $4.4M and $18.3M for the comparable periods in 2016. The raise in general and administrative expenses was primarily attributable to costs to support public company operations, raises in our headcount and stock-based compensation expense, and other costs to support our growth.
Esperion had a net loss of $37.9M for the fourth quarter of 2017 and $167.0M for the year ended December 31, 2017, contrast to $29.0M and $75.0M, respectively, for the comparable periods in 2016.
Esperion had about 26.3M shares of ordinary stock outstanding, with another 4.4M issuable upon exercise of stock options and warrants and vesting of restricted stock units, and $1.0M of debt outstanding as of December 31, 2017.
Esperion Therapeutics, Inc., a lipid management company, focuses on developing and commercializing oral therapies for the treatment of patients with elevated low density lipoprotein cholesterol (LDL-C).