 Highest Quarterly and First Half Total Revenue in Company History with 214 million in Total YTD Revenue Strong Capital Position with over 300 Million in Cash Extraordinary High-Quality Managed Care Coverage with Over 80 Commercial and Over 50 Medicare Part D Formulary Coverage Consistently High Month-Over-Month Growth for New Medicines With Acceleration in Second Half Conference Call and Webcast on August 10 at 4:30 P.M. Eastern Time ANN ARBOR, Mich., Aug. 10, 2020 GLOBE NEWSWIRE -- Esperion NASDAQ:ESPR today reported financial results for the second quarter ended June 30, 2020, which included the highest quarterly and first half revenue in Company history and other updates, including the establishment of a strong commercial foundation to further accelerate the launch of NEXLETOL bempedoic acid tablets and NEXLIZETTM bempedoic acid and ezetimibe tablets in the second half of 2020.Esperion is in a stronger position today than ever before, fortified by the significant business achievements of our Lipid Management Team. We successfully navigated through the unprecedented environment created by the COVID-19 pandemic to launch our first two medicines, deliver on our partnerships in Japan and Europe, and strengthen our balance sheet, said Tim M. Mayleben, president and chief executive officer of Esperion. The early feedback from U.S. healthcare providers and payers on NEXLETOL and NEXLIZETTM has been extraordinary, reflecting strong positioning as affordable, complementary, convenient, oral, once-daily LDL-C lowering medicines and further confirmed by the broad, high-quality managed care coverage weve already secured so early in our commercial launch. While stay at home orders that were in effect across the U.S. for most of the quarter shifted the deployment of our field sales team, July prescription volumes demonstrate that all the pieces are now in place for healthcare providers and patients to access our medicines in volume.Recent HighlightsClinical and Regulatory: April 2020: European Commission Marketing Approvals of NILEMDOTM bempedoic acid and NUSTENDITM bempedoic acid and ezetimibe tablets for the treatment of hypercholesterolemia and mixed dyslipidemia. July 2020: Pooled LDL-C lowering efficacy analysis from the four Phase 3 clinical studies of NEXLETOL was published in the Journal of the American Medical Association Cardiology. July 2020: For the CLEAR Outcomes global cardiovascular outcomes trial CVOT, the study has now accumulated almost 50 of events in this event-driven cardiovascular outcomes study.Commercial: March 30, 2020: U.S. commercial availability of NEXLETOL tablets. June 4, 2020: U.S. commercial availability of NEXLIZET tablets. July 2020: Surpassed NEXLETOL and NEXLIZET one-year managed care coverage goals, with over 80 commercial coverage and over 50 Medicare Part D coverage with preferred brand formulary status less than four months after initial launch.Corporate and Business Development: April 2020: Entered into a development and commercial collaboration agreement with Otsuka Pharmaceuticals Co., Ltd. Otsuka to develop and commercialize NEXLETOL and NEXLIZET tablets in Japan. Payments to Esperion under the agreement include 60 million upfront received in April, up to an additional 450 million in development and sales milestones, approximately 100 million in development costs funded by Otsuka, and 15 to 30 tiered royalties on net product sales in Japan. June 2020: 150 million payment received from Daiichi Sankyo Europe DSE upon completion of the transfer of Marketing Authorization for NUSTENDI tablets to DSE.Upcoming MilestonesFourth Quarter 2020: DSE to initiate commercial rollout of NILEMDO and NUSTENDI tablets in Europe. Potential Rest-of-World ROW development and commercial collaboration agreement.2020 Second Quarter Financial ResultsAs of June 30, 2020, cash, cash equivalents, restricted cash and investment securities available-for-sale totaled 300.7 million compared with 201.7 million at December 31, 2019.Total revenue was 212.2 million for the second quarter of 2020 and 214.1 million for the six months ended June 30, 2020. This amount includes approximately 0.6 million of net product sales and 211.6 million in collaboration revenue for the second quarter of 2020 and 1.5 million and 212.6 million, respectively, for the six months ended June 30, 2020. This compares to total revenue of 1.0 million for the second quarter of 2019 and 146.4 million for the six months ended June 30, 2019. The increase in revenue was primarily related to the 60.0 million upfront payment from the collaboration with Otsuka, 150.0 million of collaboration revenue from DSE as well as net product sales of NEXLETOL and NEXLIZET.Research and development expenses were 35.0 million for the second quarter of 2020 and 69.7 million for the six months ended June 30, 2020, compared to 42.8 million and 89.1 million for the comparable periods in 2019. The decrease was primarily attributable to a decline in costs related to the completion of enrollment of our CLEAR CVOT, which was fully enrolled during the third quarter of 2019, and a decline in costs related to our regulatory submission activities completed in 2019.Selling, general and administrative expenses were 47.7 million for the second quarter of 2020 and 89.2 million for the six months ended June 30, 2020, compared to 13.5 million and 25.7 million for the comparable periods in 2019. The increase was primarily attributable to costs to support the commercialization of NEXLETOL and NEXLIZET in the U.S., increases in our headcount resulting from the buildout of our approximately 300-member customer-facing team, stock-based compensation expense, and other costs to support our growth.Esperion had net income of 124.6 million for the second quarter of 2020 and 46.4 million for the six months ended June 30, 2020, compared to net loss of 54.2 million and net income of 33.2 million for the comparable periods in 2019. Esperion had a basic and diluted net income per share of 4.50 and 4.32, respectively, for the second quarter of 2020 and 1.68 and 1.60, respectively, for the six months ended June 30, 2020, compared to a basic and diluted net loss per share of 2.01 and a basic and diluted net income per share of 1.23 and 1.16, respectively, for the comparable periods in 2019.Esperion had approximately 27.8 million shares of common stock outstanding, with another 5.1 million issuable upon exercise of stock options and vesting of restricted stock units, and 166.3 million of the revenue interest liability outstanding as of June 30, 2020.2020 Financial OutlookEsperions cash, cash equivalents, and investments held available-for-sale as of June 30, 2020 totaled 300.7 million and expects further cash to be provided from U.S. product sales, for which Esperion is not providing guidance for in 2020, EU royalties, and upfront andor milestone payments from a potential ROW agreement for the remainder of 2020.Research and development expenses for the full year 2020 are expected to be 135 million to 145 million. Selling, general and administrative expenses for the full year 2020 are expected to be 200 million to 210 million. These amounts do not include 30 million in non-cash stock-based compensation.Esperion expects that current cash resources, coupled with revenue from NEXLETOL and NEXLIZET commercial net product sales are sufficient to fund continued operations through profitability. Any additional cash proceeds as a result from a ROW collaboration and the additional 50 million available to Esperion, at its option, under the Oberland Capital revenue-based funding agreement, are incremental to our path to profitably and further secures Esperions sustainable cash runway.Conference Call and Webcast InformationEsperions Lipid Management Team will host a conference call and webcast on August 10, 2020 at 4:30 P.M. Eastern Time to provide a second quarter 2020 financial results and company update. The call can be accessed by dialing 877 312-7508 domestic or 253 237-1184 international five minutes prior to the start of the call and providing the access code 7393523. A live audio webcast can be accessed on the investors and media section of the Esperion website at investor.esperion.com. Access to the webcast replay will be available approximately two hours after completion of the call and will be archived on the Companys website for approximately 90 days.CLEAR Cardiovascular Outcomes TrialThe effect of bempedoic acid on cardiovascular morbidity and mortality has not been determined. Esperion initiated a global cardiovascular outcomes trial CVOT to assess the effects of bempedoic acid on the occurrence of major cardiovascular events in patients with, or at high risk for, cardiovascular disease CVD who are only able to tolerate less than the lowest approved daily starting dose of a statin and are considered statin averse. The CVOT known as CLEAR Cardiovascular Outcomes Trial is an event-driven, global, randomized, double-blind, placebo-controlled study that completed enrollment in August 2019 of over 14,000 patients with hypercholesterolemia and high CVD risk at over 1,400 sites in 32 countries.Esperion TherapeuticsThrough scientific and clinical excellence, and a deep understanding of cholesterol biology, the experienced Lipid Management Team at Esperion is committed to developing new LDL-C lowering medicines that will make a substantial impact on reducing global cardiovascular disease, the leading cause of death around the world. For more information, please visit and follow us on Twitter at 