Esperion Therapeutics Inc (NASDAQ: ESPR)
Esperion Therapeutics is having an overwhelmingly strong day in the market today, and for good reason. Early this morning, an announcement was made that the US FDA has confirmed a pathway toward regulatory approval for a key product in the company's pipeline. Below, we'll talk about what we're seeing from the stock, why, and what we'll be watching for with regard to ESPR ahead.
What We're Seeing From ESPR
As mentioned above, Esperion Therapeutics is having an overwhelmingly strong start to the trading session today. The gains started in the pre-market hours, when the company released an update that confirmed a pathway toward regulatory approval. Since the opening bell, the stock has continued upward. Currently (9:53), ESPR is trading at $35.85 per share after a gain of $12.18 per share (51.46%) thus far today.
Why The Stock Is Headed Upward
Before we dive too deep into the details, we'd like to say thank you to Trade Ideas for being the first to alert us to the gains on ESPR. As soon as we received the alert, the CNA Finance team started digging to see why the stock was making a run for the top. It didn't take long to dig up the story. The gains are ultimately the result of a confirmed pathway toward regulatory approval.
In an announcement made early this morning, it was revealed that the FDA has confirmed the pathway for Esperion Therapeutics' LDL-C lowering program. In a statement, Tim M. Mayleben, President and CEO at ESPR, had the following to offer:
“We are very pleased to have achieved clarity from (the) FDA regarding Esperion's LDL-C lowering development program... Our experienced lipid management team has worked closely with regulatory authorities and our key advisors to achieve this encouraging outcome. We continue to believe that bempedoic acid has the potential to provide physicians with a complementary and convenient oral treatment option that's cost-effective for their patients with hypercholesterolemia who require additional LDL-C lowering. We remain focused on completing the global pivotal Phase 3 program for bempedoic acid and reporting top-line results from our long-term safety and tolerability study by Q2 2018 and top-line results from our ongoing Phase 3 LDL-C lowering efficacy studies by mid-2018.”
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ESPR. In particular, we're interested in following the company's ongoing work with regard to LDL-C. We'll continue to follow the story and be sure to bring you the news as it breaks!
Update 11:30: Looks like the gains on ESPR have leveled off and may have peaked for the day. Currently the stock is trading at $34.59 per share after a gain of $10.92 per share, or 46.13%. We'll continue to follow the story closely and bring you the news as it breaks!
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