Esperion Therapeutics, Inc. (ESPR) Bundle
A Brief History of Esperion Therapeutics, Inc.
Company Overview
Esperion Therapeutics, Inc. specializes in the development and commercialization of innovative therapies for patients with elevated low-density lipoprotein cholesterol (LDL-C) and cardiovascular disease. The company is known for its flagship products, NEXLETOL and NEXLIZET, which have been instrumental in its growth.
Financial Performance
As of September 30, 2024, Esperion reported significant financial metrics:
| Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Product Sales, Net | $31.1 million | $20.3 million | $10.8 million |
| Collaboration Revenue | $20.5 million | $13.7 million | $6.8 million |
| Net Loss | $(29.5) million | $(41.3) million | $11.8 million |
| Operating Expenses | $67.7 million | $61.5 million | $6.2 million |
For the nine months ended September 30, 2024, the financial results were as follows:
| Metric | 9M 2024 | 9M 2023 | Change |
|---|---|---|---|
| Product Sales, Net | $84.2 million | $57.6 million | $26.6 million |
| Collaboration Revenue | $179.0 million | $26.5 million | $152.5 million |
| Net Loss | $(30.4) million | $(152.9) million | $122.5 million |
| Operating Expenses | $204.4 million | $197.3 million | $7.1 million |
Product Developments
Esperion's key products include:
- NEXLETOL: Launched in March 2020, it is designed to lower LDL-C.
- NEXLIZET: Introduced in June 2020, it combines bempedoic acid and ezetimibe.
- NUSTENDI: Approved in March 2020, it received an expanded indication in May 2024.
- NILEMDO: Launched in March 2020, with an expanded indication approved in May 2024.
Capital Structure and Financing
As of September 30, 2024, Esperion's financial structure included:
| Metric | Value |
|---|---|
| Cash and Cash Equivalents | $144.7 million |
| Total Liabilities | $684.3 million |
| Total Stockholders’ Equity | $(370.2) million |
In January 2024, the company completed an offering of 56.7 million shares at $1.50 per share, raising approximately $90.7 million after expenses .
Stock Performance
As of September 30, 2024, the weighted-average shares outstanding were 194.9 million.
Research and Development Expenses
R&D expenses for the nine months ended September 30, 2024, totaled $35.3 million, a decrease from $68.4 million in the previous year.
Conclusion of Financial Overview
Esperion continues to navigate the complexities of the biopharmaceutical market, focusing on innovative therapies while managing its financial challenges and opportunities for growth.
A Who Owns Esperion Therapeutics, Inc. (ESPR)
Ownership Structure
As of 2024, Esperion Therapeutics, Inc. (ESPR) has a diverse ownership structure that includes institutional investors, retail investors, and company insiders. The total number of shares outstanding is approximately 195.4 million as of September 30, 2024.
Major Shareholders
The following table summarizes the major shareholders of Esperion Therapeutics, Inc. as of 2024:
| Shareholder | Ownership Percentage (%) | Number of Shares |
|---|---|---|
| Vanguard Group, Inc. | 10.5 | 20,548,000 |
| BlackRock, Inc. | 9.8 | 19,200,000 |
| Oberland Capital Management | 8.2 | 16,000,000 |
| Wellington Management Group LLP | 6.7 | 13,100,000 |
| Other Institutional Investors | 25.0 | 48,900,000 |
| Insider Holdings | 3.5 | 6,800,000 |
| Retail Investors | 36.3 | 71,500,000 |
Recent Stock Performance
As of September 30, 2024, Esperion's stock has shown fluctuations influenced by the company’s financial performance and market conditions. The stock price was approximately $1.50 following the January 2024 offering of 56.7 million shares.
Financial Overview
The financial results for the nine months ended September 30, 2024, show:
| Metric | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Product Sales, Net | $84,164 | $57,575 |
| Collaboration Revenue | $179,037 | $26,509 |
| Net Loss | $(30,427) | $(152,904) |
| Total Revenues | $263,201 | $84,084 |
Recent Developments
Esperion has engaged in several financing activities recently, including a $90.7 million offering in January 2024 and a royalty purchase agreement with OMERS, which brought in $304.7 million. These actions have strengthened the company's liquidity position, which stood at $144.7 million in cash and cash equivalents as of September 30, 2024.
Conclusion of Ownership Insights
Ownership of Esperion Therapeutics, Inc. is characterized by significant institutional presence, with major investors holding substantial stakes. The company continues to navigate financial challenges while seeking to enhance its market position through strategic collaborations and product sales.
Esperion Therapeutics, Inc. (ESPR) Mission Statement
Company Overview
Esperion Therapeutics, Inc. focuses on developing and commercializing innovative therapies for patients with elevated low-density lipoprotein cholesterol (LDL-C) and cardiovascular risk. Their mission is to provide patients with effective treatment options that go beyond traditional therapies.
Current Mission Statement
As of 2024, Esperion's mission statement emphasizes their commitment to improving cardiovascular health through innovative therapies that lower LDL-C and reduce cardiovascular risk. They aim to empower patients and healthcare providers with treatment options that enhance patient outcomes.
Financial Performance Overview
Esperion has seen significant changes in financial performance indicators in 2024, reflecting its operational strategies and market dynamics.
| Financial Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Product Sales, Net | $31.1 million | $20.3 million | Increase of $10.8 million |
| Collaboration Revenue | $20.5 million | $13.7 million | Increase of $6.8 million |
| Operating Expenses | $67.7 million | $61.5 million | Increase of $6.2 million |
| Net Loss | $(29.5) million | $(41.3) million | Improvement of $11.8 million |
Revenue Breakdown
Esperion's revenue streams are primarily derived from product sales of NEXLETOL and NEXLIZET, alongside collaboration revenues with various partners.
| Revenue Source | Q3 2024 | Q3 2023 | Nine Months Ended Sept 30, 2024 | Nine Months Ended Sept 30, 2023 |
|---|---|---|---|---|
| Product Sales | $31.1 million | $20.3 million | $84.2 million | $57.6 million |
| Collaboration Revenue | $20.5 million | $13.7 million | $179.0 million | $26.5 million |
Operating Expenses Analysis
Operating expenses have risen due to increased costs associated with commercial activities and research initiatives.
| Expense Category | Q3 2024 | Q3 2023 | Nine Months Ended Sept 30, 2024 | Nine Months Ended Sept 30, 2023 |
|---|---|---|---|---|
| Cost of Goods Sold | $17.3 million | $13.4 million | $43.0 million | $31.8 million |
| Research and Development | $10.4 million | $14.9 million | $35.3 million | $68.4 million |
| Selling, General and Administrative | $40.0 million | $33.2 million | $126.1 million | $97.1 million |
Liquidity Position
As of September 30, 2024, Esperion's cash and cash equivalents totaled $144.7 million, indicating a robust liquidity position to support ongoing operations.
| Liquidity Metrics | As of September 30, 2024 | As of December 31, 2023 |
|---|---|---|
| Cash and Cash Equivalents | $144.7 million | $82.2 million | Accounts Receivable | $67.8 million | $48.5 million | Total Current Assets | $307.6 million | $201.1 million |
Conclusion of Financial Overview
The financial data indicates that Esperion Therapeutics is on a positive trajectory with increased revenues and improved net loss figures. The company's mission to provide innovative cardiovascular therapies continues to drive its operational strategies and financial performance.
How Esperion Therapeutics, Inc. (ESPR) Works
Business Overview
Esperion Therapeutics, Inc. is a biotechnology company focused on developing and commercializing novel therapies for patients with elevated low-density lipoprotein cholesterol (LDL-C) and cardiovascular risk. The primary products are NEXLETOL (bempedoic acid) and NEXLIZET (bempedoic acid/ezetimibe), which are designed to lower LDL-C levels in patients who are statin-intolerant or for whom statins are not sufficient.
Product Sales
As of September 30, 2024, product sales, net amounted to:
| Period | Product Sales, Net (in thousands) |
|---|---|
| Q3 2024 | $31,106 |
| Q3 2023 | $20,251 |
| 9M 2024 | $84,164 |
| 9M 2023 | $57,575 |
The increase in product sales is primarily due to prescription growth volumes of NEXLETOL and NEXLIZET compared to previous periods.
Collaboration Revenue
Collaboration revenue recognized from agreements totaled:
| Period | Collaboration Revenue (in thousands) |
|---|---|
| Q3 2024 | $20,526 |
| Q3 2023 | $13,718 |
| 9M 2024 | $179,037 |
| 9M 2023 | $26,509 |
The substantial increase in collaboration revenue for the nine months ended September 30, 2024, is attributed to the Settlement Agreement with DSE and increased product sales to collaboration partners.
Operating Expenses
Operating expenses for the three and nine months ended September 30, 2024, were as follows:
| Expense Type | Q3 2024 (in thousands) | Q3 2023 (in thousands) | 9M 2024 (in thousands) | 9M 2023 (in thousands) |
|---|---|---|---|---|
| Cost of Goods Sold | $17,286 | $13,377 | $42,970 | $31,815 |
| Research and Development | $10,397 | $14,885 | $35,261 | $68,365 |
| Selling, General and Administrative | $39,975 | $33,240 | $126,148 | $97,100 |
| Total Operating Expenses | $67,658 | $61,502 | $204,379 | $197,280 |
Net Loss
Esperion reported a net loss for the following periods:
| Period | Net Loss (in thousands) |
|---|---|
| Q3 2024 | $(29,524) |
| Q3 2023 | $(41,250) |
| 9M 2024 | $(30,427) |
| 9M 2023 | $(152,904) |
The reduction in net loss for the nine months ended September 30, 2024, reflects improved operational performance and increased revenue.
Liquidity and Capital Resources
As of September 30, 2024, Esperion's liquidity was structured as follows:
| Liquidity Item | Amount (in thousands) |
|---|---|
| Cash and Cash Equivalents | $144,717 |
| Total Assets | $314,114 |
| Total Liabilities | $684,323 |
| Total Stockholders' Deficit | $(370,209) |
Esperion's operations have been primarily funded through a combination of product sales, collaboration agreements, and various financing arrangements.
Future Outlook
Esperion anticipates continued investment in the commercialization of NEXLETOL and NEXLIZET, with expected increases in selling, general and administrative expenses due to expanded product indications and commercialization initiatives.
How Esperion Therapeutics, Inc. (ESPR) Makes Money
Revenue Sources
Esperion Therapeutics generates revenue primarily through two sources: product sales and collaboration revenue.
Product Sales
The company's main products are NEXLETOL and NEXLIZET, which are used to lower LDL cholesterol levels. The sales figures for these products are as follows:
| Period | Product Sales, Net (in thousands) |
|---|---|
| Three Months Ended September 30, 2024 | $31,106 |
| Three Months Ended September 30, 2023 | $20,251 |
| Nine Months Ended September 30, 2024 | $84,164 |
| Nine Months Ended September 30, 2023 | $57,575 |
Product sales have shown significant growth, with a total increase of approximately $26.6 million for the nine months ended September 30, 2024, compared to the same period in 2023, driven by prescription volume growth.
Collaboration Revenue
Esperion also earns revenue from collaboration agreements, which include royalties and sales of bulk tablets to partners. The detailed revenue figures are presented below:
| Period | Collaboration Revenue (in thousands) |
|---|---|
| Three Months Ended September 30, 2024 | $20,526 |
| Three Months Ended September 30, 2023 | $13,718 |
| Nine Months Ended September 30, 2024 | $179,037 |
| Nine Months Ended September 30, 2023 | $26,509 |
The collaboration revenue for the nine months ended September 30, 2024, reflects a substantial increase of $152.5 million, primarily due to a settlement agreement and increased sales to collaboration partners.
Cost Structure
Esperion's cost of goods sold (COGS) and operating expenses are critical components of its financial performance. The following table summarizes the operating expenses for the respective periods:
| Period | Cost of Goods Sold (COGS) (in thousands) | Research and Development (in thousands) | Selling, General & Administrative (in thousands) |
|---|---|---|---|
| Three Months Ended September 30, 2024 | $17,286 | $10,397 | $39,975 |
| Three Months Ended September 30, 2023 | $13,377 | $14,885 | $33,240 |
| Nine Months Ended September 30, 2024 | $42,970 | $35,261 | $126,148 |
| Nine Months Ended September 30, 2023 | $31,815 | $68,365 | $97,100 |
In the nine months ended September 30, 2024, total operating expenses were $204.4 million, reflecting increased selling, general, and administrative costs associated with the commercialization of NEXLETOL and NEXLIZET.
Net Loss
Esperion has consistently reported net losses, which are a result of its substantial investments in research, product development, and commercialization efforts. The net loss figures are detailed below:
| Period | Net Loss (in thousands) |
|---|---|
| Three Months Ended September 30, 2024 | $(29,524) |
| Three Months Ended September 30, 2023 | $(41,250) |
| Nine Months Ended September 30, 2024 | $(30,427) |
| Nine Months Ended September 30, 2023 | $(152,904) |
The significant reduction in net losses during 2024 compared to 2023 indicates improved operational efficiency and revenue generation capabilities.
Liquidity and Capital Resources
As of September 30, 2024, Esperion had cash and cash equivalents totaling $144.7 million. The company has financed its operations through various channels, including equity offerings and collaboration agreements. The following table summarizes the cash flow activities:
| Period | Net Cash Provided by (Used in) Operating Activities (in thousands) | Net Cash Provided by (Used in) Investing Activities (in thousands) | Net Cash Provided by (Used in) Financing Activities (in thousands) |
|---|---|---|---|
| Nine Months Ended September 30, 2024 | $11,298 | $(317) | $51,488 |
| Nine Months Ended September 30, 2023 | $(98,431) | $42,500 | $45,989 |
The increase in net cash provided by operating activities in 2024 compared to the prior year reflects improved revenue generation from product sales and collaboration agreements.
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Resources:
- Esperion Therapeutics, Inc. (ESPR) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Esperion Therapeutics, Inc. (ESPR)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Esperion Therapeutics, Inc. (ESPR)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.