NEWS
Esperion Reports Second Quarter 2024 Financial Results and Provides a Business Update
Positive
Total revenue increased 186% year-over-year to $73.8 million
U.S. net product revenue grew 39% to $28.3 million
Monetized European royalties for $304.7 million, enhancing financial flexibility
Expanded payer coverage, with over 80% updating utilization management criteria
Increased preferred commercial coverage to 92% and Medicare preferred coverage to over 50%
Received a five-year patent extension for bempedoic acid through December 3, 2030
Label expansion approval in Europe and positive Phase 3 results in Japan
Positive
Total revenue increased 186% year-over-year to $73.8 million
U.S. net product revenue grew 39% to $28.3 million
Monetized European royalties for $304.7 million, enhancing financial flexibility
Expanded payer coverage, with over 80% updating utilization management criteria
Increased preferred commercial coverage to 92% and Medicare preferred coverage to over 50%
Received a five-year patent extension for bempedoic acid through December 3, 2030
Label expansion approval in Europe and positive Phase 3 results in Japan
Negative
Net loss of $61.9 million for Q2 2024, compared to $49.9 million in Q2 2023
One-time loss of $53.2 million related to termination of Oberland revenue interest purchase agreement
Increase in SG&A expenses by 30% to $44.2 million in Q2 2024
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