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Fly News Breaks for October 13, 2016
ESPR
Oct 13, 2016 | 13:46 EDT
Needham analyst Chad Messer notes that Esperion reported positive high dose statin combo data, with Phase 2 trial showing a placebo adjusted additional low-density lipoprotein, or LDL, reduction of 22% when bempedoic acid was added to 80mg of Lipitor. Additionally, the company was more upbeat about the U.S. regulatory process and released details of its Phase 3 program that will now include patients on any statin at any dose, which could be a driver of commercial adoption, he adds. Messer believes an earlier LDL based approval would represent "significant upside," which may become the likely outcome if PCSK9 cardiovascular outcome trials read out positive in the first half of 2017. The analyst reiterates a Buy rating and $25 price target on the shares.
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