Core Insights - Esperion reported preliminary full-year 2025 U.S. net product sales of $156 to $160 million, reflecting a 35% to 38% increase compared to 2024 [1] - The company anticipates total preliminary revenue of $400 to $408 million for 2025, marking a 20% to 23% increase from the previous year, and a 55% to 59% increase when excluding one-time milestones [1] - Esperion introduced its Vision 2040 growth strategy, aiming to evolve into a multi-product, sustainable, innovation-driven global pharmaceutical company [2][4] Financial Performance - Cash and cash equivalents at year-end 2025 are approximately $168 million [1] - Q4 retail prescription equivalents grew by 34% year-over-year and 11.3% quarter-over-quarter [1] - The company expects operating expenses for full-year 2026 to be between $210 million and $245 million [1][14] Vision 2040 Strategy - Vision 2040 aims to establish Esperion as a leader in cardiometabolic indications and expand its pipeline into rare hepatic and renal diseases [4][6] - The strategy includes plans to develop at least five marketed products and a robust pipeline addressing unmet medical needs [4] - Esperion intends to leverage its commercial infrastructure for partnerships, acquisitions, and co-promotion opportunities [5] U.S. Commercial Strategy - NEXLETOL® and NEXLIZET® are FDA-approved for cardiovascular disease prevention, targeting over 70 million patients in the U.S. [7] - The company is focusing on the statin intolerant or resistant market, which constitutes approximately 30% of the overall market [8] - Esperion has strengthened access and reimbursement support for its products, achieving over 90% coverage among commercial lives and Medicare beneficiaries [11] Global Expansion - Esperion has made significant progress in expanding its bempedoic acid products internationally, treating over 600,000 patients across 30 EU countries [12] - The company secured regulatory approval for NILEMDO in France and is advancing oral triple combination lipid-lowering tablets [12] R&D Pipeline - Esperion is advancing its ACLY-focused pipeline, targeting multiple life-threatening diseases with next-generation inhibitors [13][17] - The company nominated ESP-2001 for preclinical development, which addresses primary sclerosing cholangitis and represents a potential market opportunity exceeding $1 billion annually [17] Financial Flexibility - Esperion completed a $75 million capital raise in 2025 to support commercial expansion and pipeline development [14]

Core Insights - Esperion reported preliminary full-year 2025 U.S. net product sales of $156 to $160 million, reflecting a 35% to 38% increase compared to 2024 [1] - Total preliminary revenue is expected to be between $400 million and $408 million, marking a 20% to 23% increase from 2024, and a 55% to 59% increase when excluding one-time milestones [1] - The company introduced its Vision 2040 growth strategy, aiming to evolve into a multi-product, sustainable, innovation-driven global pharmaceutical company [2][4] Financial Performance - Esperion's cash and cash equivalents at year-end 2025 are approximately $168 million [1] - The company expects operating expenses for full-year 2026 to be between $210 million and $245 million [1][14] - A capital raise of $75 million was completed in 2025 to enhance financial flexibility [14] Product and Market Strategy - The U.S. commercial strategy focuses on NEXLETOL and NEXLIZET, which are approved for cardiovascular disease prevention [7] - Esperion's commercialization efforts are targeting the statin intolerant or resistant market, which constitutes about 30% of the overall market [8] - The company plans to introduce two triple combination products that could lower LDL-C by over 60%, potentially rivaling existing therapies [11] Global Expansion - Esperion has expanded its bempedoic acid products to over 30 countries in the EU, treating more than 600,000 patients [12] - The company has secured regulatory approvals in key markets, including France and Japan, enhancing its global footprint [12][16] R&D Pipeline - Esperion is advancing its ACLY-focused pipeline, targeting multiple life-threatening diseases with next-generation inhibitors [13] - The company nominated ESP-2001 for preclinical development, which addresses primary sclerosing cholangitis and represents a potential market opportunity exceeding $1 billion annually [17] Strategic Initiatives - Esperion has reached settlement agreements with four key ANDA filers to restrict generic entry until April 2040, strengthening its market position [11] - The company has enhanced access and reimbursement support for its products, achieving over 90% coverage among commercial lives and Medicare beneficiaries [11]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $69.1 million, an increase of 114% compared to $32.3 million in Q4 2023 [28] - U.S. net product revenue was $31.6 million, up approximately 52% from $20.8 million in the same period last year [28] - Collaboration revenue increased approximately 227% to $37.6 million compared to $11.5 million in Q4 2023 [29] - Research and development expenses decreased by 38% to $11 million from $17.7 million in Q4 2023 [30] - Selling, general and administrative expenses decreased by 19% to $36.9 million from $45.4 million in Q4 2023 [30] - Cash and cash equivalents stood at $144.8 million as of December 31, 2024 [31] Business Line Data and Key Metrics Changes - The company achieved 12% sequential quarterly growth in total retail prescription equivalents (TRPEs) in Q4 2024 compared to Q3 2024 [10] - The prescriber base increased by 10% from the previous quarter, reaching over 25,000 healthcare providers [10] - Royalty revenue from DSE increased 9% sequentially to $9.7 million in Q4 2024, with a full-year increase of 116% to $32.6 million [15] Market Data and Key Metrics Changes - The company expanded payer access to over 173 million lives covered in the U.S. [10] - Approximately 453,000 patients have been treated with the company's therapies in Europe, representing 19% sequential growth over the past three months [16] Company Strategy and Development Direction - The company focuses on three strategic pillars: continued revenue growth, operating profitability, and portfolio expansion [9] - Plans to introduce triple combination products in the U.S. to address statin intolerance and expand market presence [12] - The company is actively exploring new therapeutic opportunities and developing next-generation inhibitors for serious diseases [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued revenue growth and operational flexibility due to a strengthened financial structure [8] - Anticipated Medicare reforms are expected to improve revenue growth alignment with TRPE growth [29] - The company is optimistic about the impact of expanded product access and ongoing clinical data presentations on future sales [20][21] Other Important Information - The company entered into a licensing agreement with Neopharm Israel for exclusive rights to commercialize NEXLETOL and NEXLIZET in Israel [19] - A partnership with CSL Seqirus was established to commercialize NEXLETOL and NEXLIZET in Australia and New Zealand [17] Q&A Session Summary Question: What is the regulatory path for the triple combo in the U.S.? - Management indicated that no additional details would be provided at this time, but a CVOT is not necessary [42] Question: Can U.S. bempedoic acid revenue in 2025 see accelerated growth? - Management expects a more consistent translation of RPE growth to revenue growth due to improved access and reduced gross to net pressure [46] Question: How are efforts to build efficiencies into COGS progressing? - COGS has remained consistent, with ongoing evaluations to drive costs down [50] Question: What feedback is being received from prescribers? - Positive feedback is noted regarding the efficacy of the products, with ongoing education efforts to improve coverage awareness [55] Question: What is the status of potential in-licensing discussions? - The company is conducting a landscape analysis for potential products and is excited about leveraging its existing infrastructure [60] Question: How does the company view the opportunity to help sell other products? - The company sees significant potential in commercializing or acquiring assets due to its established commercial infrastructure [66] Question: What are the expectations for the triple combination products? - The triple combination is viewed as complementary to the existing portfolio, with a focus on lowering LDL and improving patient outcomes [75] Question: How familiar are prescribers with bempedoic acid? - Awareness among healthcare providers is improving, with high aided awareness reported [86] Question: Will the Medicare contract impact linger into 2025? - Management does not expect lingering impacts from the Medicare contract changes [93] Question: What is the development timeline for the triple products? - More information on development timelines will be shared in the fall [81]