ribit:
Re: "I remember you saying you had bought some ESPR. It might make ya some money if ya did"You jinxed it!! Down $6.59 today...
I'll survive. My purchase price was below $20.
February 21, 2020
Biotech Stock Crumbles Despite Esperion Nabbing A Key Drug Approval
by Allison Gatlin
Investors.com
Shares of Esperion Therapeutics (ESPR) crumbled Friday after the biotech company's cholesterol medicine gained Food and Drug Administration approval — with some caveats.
The cholesterol medicine formerly known as bempedoic acid will sell as Nexletol, a once-daily oral treatment for high LDL cholesterol. The drug is specifically approved for patients with a genetic form of high cholesterol or a type of cardiovascular disease.
Although the label is slightly more restrictive than expected, it's in line with how the FDA treated rival drugs from Regeneron Pharmaceuticals (REGN)/Sanofi (SNY) and Amgen (AMGN), Needham analyst Chad Messer said in an email.
"Overall, I don't think it's a bad label at all, but this stock has a history of overreacting to small issues," he told Investor's Business Daily. He noted the label in the U.S. is narrower than what their European counterparts have recommended.
On today's stock market, Esperion stock tumbled 9.6%, to 61.76, in above-average volume. Shares of the biotech company have a Relative Strength Rating of 95, putting Esperion stock's 12-month performance in the top 5% of all stocks.
Cholesterol Medicine Nabs Approval
Chief Executive Tim Mayleben praised the years of commitment that went into developing the cholesterol medicine. Nexletol aims to be a lower-cost treatment for "bad" cholesterol and could rival medicines from Regeneron/Sanofi and Amgen.
"Even with maximally tolerated statins, which may mean no statin at all, some of these patients can't achieve their LDL-cholesterol goals," he said in an emailed statement to Investor's Business Daily. "Today's approval provides them with a new medicine to go along with a healthy diet."
Needham's Messer noted the labels warns against the potential for tendon rupture and some dosing restrictions when used in conjunction with other drugs. But Esperion said in an email that the label is in line with expectations. The biotech company declined to comment on the stock movement.
http://www.investors.com/news/technology/cholesterol-medicine-biotech-company-esperion-nabs-key-approval/?src=A00220&yptr=yahoo
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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