Esperion Reports Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Esperion reported a significant increase in total revenue for FY24, growing 186% year-over-year to $332.3 million, with U.S. net product revenue increasing 48% to $115.7 million [1][19] - The company is focusing on three strategic pillars: continued revenue growth, achieving operating profitability, and expanding its portfolio and pipeline [3][4] - Esperion is developing triple combination products with bempedoic acid in the U.S. to enhance treatment options for patients [1][8] Financial Performance - Q4 total revenue reached $69.1 million, a 114% increase year-over-year, while U.S. net product revenue grew 52% to $31.6 million [1][19] - Collaboration revenue surged 227% in Q4 and 470% for the full year, driven by increased royalty sales and product sales to collaboration partners [19] - The company reported a net loss of $21.3 million for Q4 and $51.7 million for the full year, a significant reduction from losses of $56.3 million and $209.2 million in 2023 [14][15] Market Expansion and Strategy - Esperion's products are now approved in 39 countries, enhancing access for patients with high LDL-C levels at risk of cardiovascular disease [4] - The company has expanded payer access, covering over 173 million lives across various insurance plans, and has seen a 12% increase in total retail prescription equivalents in Q4 [5][19] - Esperion is advancing its clinical pipeline and has initiated the development of two triple combination products, which may offer LDL-C lowering in excess of 60% [8][19] Research and Development - The company is committed to R&D, with a focus on acquiring synergistic cardiometabolic assets while advancing its clinical pipeline [8] - Esperion's R&D expenses decreased significantly in 2024, reflecting the close-out of the CLEAR Outcomes study [19] - The company plans to announce a lead indication for its next-generation inhibitors at an R&D Day in April 2025 [12] Financial Outlook - Esperion expects full-year 2025 operating expenses to be between $215 million and $235 million, including approximately $15 million in non-cash stock compensation expenses [17] - The company ended 2024 with cash and cash equivalents of $144.8 million, up from $82.2 million in 2023, indicating improved financial stability [15][33]