Stifel analyst Thomas Shrader noted that the FDA did not provide a clear regulatory pathway for an LDL-C lowering indication in statin intolerant patients for Esperion's (ESPR) ETC-1002, but he sees little risk that the upcoming PCSK9 CVOT trials will be negative, noting that both Regeneron (REGN) and Amgen's (AMGN) Repatha and Sanofi's (SNY) Praluent have already reported positive mini-CVOT trials. The chances of success for a positive CVOT for ETC-1002 are "still significant" even if the PCSK9 CVOTs fail, added Shrader, who sees modest risk and "large potential upside" for Esperion. The analyst keeps a Buy rating and $64 price target on Esperion shares, which are down nearly 35% to $10.59 in early trading.

Reports business EPS of EUR 1.78, down 17.6% reported and 7.4% at CER. Reports Q1 IRFS net sales EUR 10.464B, up 2.4%. Paul Hudson, Chief Executive Officer, commented: "We are off to an excellent start in 2024, delivering on our strategic priorities and a transformation of our portfolio of medicines and vaccines to become a development-driven, tech-powered biopharma company committed to serving patients and accelerating growth. Continued strong performance by Dupixent and our new launches drove sales growth of seven percent. In parallel, we are delivering on our promise of increased investments in our late-stage pipeline to fully realize its value for patients and Sanofi. We are awaiting regulatory decisions for Dupixent in COPD, a progressive disease with limited effective treatment options. If approved, Dupixent will be the first biologic treatment in COPD. With the robust progress in our portfolio transformation, we reaffirm our financial guidance for 2024."