Esperion shares leap on positive Phase IIb results of ETC-1002

Emerging pharma company Esperion Therapeutics (Nasdaq: ESPR) has reported positive top-line results from a Phase IIb study evaluating the safety and efficacy of ETC-1002 (bempedoic acid) in hypercholesterolemia on stable statin therapy.

Reacting to the news, Esperion's shares touched a new high of $100.50 on Tuesday before closing the day's trading at $99.60, a rise of 29.2%.

Top-line results showed the 12-week study met its primary endpoint of greater low-density lipoprotein (LDL)-cholesterol lowering from baseline with ETC-1002 compared with placebo. Patients given ETC-1002 achieved 17% incremental reductions in LDL-cholesterol in 120mg dose and 24% in 180mg dose, compared with patients on stable statin therapy alone. These reductions occurred within the first two weeks of initiating therapy and continued throughout the treatment period.