ESPR Esperion Therapeutics, Inc. Consolidation (NASDAQ:ESPR)
(NASDAQ:ESPR) Esperion Therapeutics Inc
(NASDAQ:ESPR) Esperion Therapeutics, Inc. peaked out and closed at $48.90, way up from about $10 where it sat last August, but way below its all-time high of $107.51 in spring 2015. Still, ESPR has been on a good run since about January, but especially since June, probably based on positive news coming out on various stages of ongoing clinical trials. ESPR is a pharmaceutical company based in Ann Arbor, MI and dedicated pretty much exclusively to developing non-statin LDL cholesterol drugs with safer profiles and fewer side effects than the statins currently on the market.
THE COMPANY
ESPR Esperion Therapeutics Inc. has an interesting history, having been acquired by Phizer in 2004 for $1.3Bn in order to get sole possession of an experimental statin called ETC-216 and prevent their competitors from obtaining it. Esperion was founded by Dr. Roger Newton, the man responsible for co-discovering the Lipitor molecule, a statin drug and the most prescribed medication in the history of pharmaceuticals. Phizer eventually killed off the research and ESPR was re-acquired by Dr. Newton after he raised the capital to buy the rights to the name and to their other experimental compound, ETC-1002, which is also a novel cholesterol treatment based on the biological properties of bempedoic acid, which is converted to ETC-1002-CoA in the human liver and, through a sequence of reactions, results in the liver’s removal of LDL-C from the blood.
ESPR has pushed bempedoic acid in 18 completed Phase 1 and Phase 2 clinical studies and it is currently being evaluated in four other Phase 3 LDL efficacy and safety studies, along with one cardiovascular outcomes trial. Their pipeline consists solely of Bempedoic Acid (once daily pill) and a combination of Bempedoic Acid and Ezetimibe (once daily pill) which itself just began Phase 3 trials.
ESPR stock price has fluctuated greatly in the past 52-week period with a range of $9.40 to $57.38 and earlier in August they announced an underwritten offering of 3,100,000 shares to the public at $49.00 per with the goal of continuing to finance the previously mentioned clinical trials for the two drugs in their pipeline. There’s lots of detailed technical information out there on these trials, but suffice it to say that if any one or a combination of them are unqualified successes, they could be looking at blockbuster status on par with or even bigger than Lipitor and of course a huge uptick in value. Results are somewhat far off, however, with expected announcements after the completion of the studies in Q2 and Q3 2018 and various bridging studies yet to begin. Of note, ESPR’s R&D budget for the first six months of 2017 was $74.1M compared to $19.5M for the same period in 2016.
We think this makes ESPR an intriguing investment. With the FDA having approved an abbreviated regulatory pathway to the bempedoic acid/ezetimibe combination, and a looming New Drug Application anticipated after the studies are concluded in 2018, this stock may take a slight dive in the next few weeks, but rally significantly toward its $107.51 all-time high by the end of 2018.
Esperion Therapeutics Inc. (NASDAQ:ESPR) is Attracting Smart Money
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Esperion Therapeutics Inc. (NASDAQ:ESPR) reported that Alta Partners Viii, L.p. has picked up 1,431,204 of common stock as of 2017-03-27.
The acquisition brings the aggregate amount owned by Alta Partners Viii, L.p. to a total of 1,431,204 representing a 6.3% stake in the company
For those not familiar with the company, Esperion Therapeutics, Inc. is a lipid management company. The Company is a late-stage pharmaceutical company focused on developing and commercializing once-daily, oral therapies for the treatment of patients with elevated low-density lipoprotein cholesterol (LDL-C). With a targeted mechanism of action, bempedoic acid, the Company’s lead product candidate, is an orally available, once-daily adenosine triphosphate (ATP)-citrate lyase (ACL) inhibitor that reduces cholesterol biosynthesis and lowers elevated levels of LDL-C by up-regulating the LDL receptor, but with reduced potential for muscle-related side effects. In addition to bempedoic acid as monotherapy, the Company is also developing bempedoic acid in a fixed dose combination with ezetimibe, an approved, non-statin, oral, LDL-C lowering therapy. As of December 31, 2016, the Company was engaged in conducting its global Phase III clinical development program for bempedoic acid.
A glance at Esperion Therapeutics Inc. (NASDAQ:ESPR)’s key stats reveals a current market capitalization of 832.02 Million based on 22.56 Million shares outstanding and a price at last close of $38.27 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-21, Omenn picked up 1,000 at a purchase price of $42.46. This brings their total holding to 1,000 as of the date of the filing.
On the sell side, the most recent transaction saw Janney unload 700 shares at a sale price of $48.19. This brings their total holding to 1,359,967.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Esperion Therapeutics Inc. (NASDAQ:ESPR) as things move forward to see if its progress aligns with these transactions.
Subscribe below and we’ll keep you on top of what’s happening before it moves markets.