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Esperion Therapeutics, is a publicly traded US pharmaceutical company focused on the development of bempedoic acid, an orally available small molecule to reduce elevated LDL-C levels. The first Esperion was developed in 1998 by Dr. Roger Newton focusing on the introduction and development of HDL cholesterol (HDL-c) modulators. Pfizer acquired the original Esperion for his $1.3 billion in February 200. This is believed to be a defensive move by Pfizer to prevent ETC-216 (Esperion's lead drug candidate, apoA-1 Milano) from falling into the hands of competitors. ETC-216 increased his levels of ApoA-1, the major protein in HDL cholesterol (HDL-c), the so-called "good cholesterol." Raising his ApoA-1 (or HDL-c) levels in the body was thought to reduce the risk of cardiovascular disease. At the time, Pfizer was leading in the development projects of a new class of drugs which are known as CETP inhibitors (CETPi). These drugs also increased his HDL-c. But almost three years later, in late 2006, Pfizer's CETPi drug (torcetrapib) failed in the final stages of clinical development. Pfizer has ended its torcetrapib development program and reportedly ended all other cardiovascular drug development programs, including ETC-216 and other programs acquired from Esperion. In May 2008, a patent portfolio was acquired of two drug candidates (including ETC-1002/bempedoic acid/Nexretol) discovered by the original Esperion team, and acquired four patents to create the "new" Esperion. Roger Newton and Pfizer tried raising money from venture capital firms. This led the company to develop his ETC-1002, a drug that lowers levels of LDL cholesterol (LDL-c), which is regarded as the 'bad cholestrol', and then leading to the formation as a second independent company almost entirely dedicated to treating patients. It led to a phase that In June 2013, Esperion became a public company again through his IPO. As of April 201, Esperion trades on his NASDAQ under the symbol 'ESPR'. Financial Report: Total revenues for the third quarter that ended on September 30, 2022 were $19.0 million and $56.7 million for the nine months ended September 30, 2022, compared to $1 million and $63.0 million for the same period in 2021. 32% increase and 10% decrease respectively compared to $10,000. The increase in the third quarter ended September 30, 2022 is related to increased U.S. net product revenue, royalty income and product sales to collaborators under supply agreements. The decrease for the nine months ended September 30, 2022 was due to a one-time payment of his $28 million milestone from collaborators in the second quarter of 2021. under our supply contract. Research and development expenses were $29.1 million and $85.9 million for the third quarter ended September 30, 2022, compared with $25.3 million and $78 million for the same period in 2021. The increase was primarily related to higher CVOT costs as MACE reached 100% accumulation and continued closeout activity. Selling, general and administrative expenses for the third quarter ended September 30, 2022 were $25 million and $8.9 million for the nine months ended September 30, 2022. % and 2% respectively. Esperion posted a net loss of $55.1 million for the third quarter of 2022 and $178.2 million for the nine months ended September 30, 2022, compared with a net loss of $178.2 million for the same period in 2021. Loss per share of $0.81 for the third quarter of 2022, $2.78 for the nine months ended September 30, 2022, and underlying and diluted net loss per share of $2.62 and $7.78. for the same period in 2021. Esperion ended the quarter with approximately 71.7 million shares of common stock outstanding, excluding 2 million shares of treasury stock purchased in prepaid forward transactions as part of convertible bond financing. Visit :- https://nutritionfit.org/apob-may-better-predict-mortality-risk-in-statin-treated-patients-nutrition-fit/ |