Esperion Therapeutics, Inc. (NASDAQ:ESPR) Q4 2014 Earnings Conference Call - Final Transcript

Mar 04, 2015 • 12:30 pm ET


Esperion Therapeutics, Inc. (NASDAQ:ESPR) Q4 2014 Earnings Conference Call - Final Transcript


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Good day ladies and gentlemen and welcome to the Esperion Therapeutics fourth quarter 2014 earnings conference call and webcast. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at that time.

I would now like to introduce your host for today's conference, Ms. Mindy Lowe with Esperion. Please begin.

Mindy Lowe

Thank you, Jonathan. Hello everyone and welcome to the Esperion Therapeutics ETC-1002 program update, fourth quarter and 2014 year-end financial results call. I am Mindy Lowe from Esperion and with me today are Tim Mayleben, our President and CEO, Marianne Andreach, Senior Vice President of Strategic Marketing & Product Planning and Rick Bartram, our Vice President of Finance. As a reminder, this conference call and webcast is being recorded. To access the playback, please go to Investors section of the Esperion's website at

(Forward-Looking Cautionary Statements). The content of this conference call contains time sensitive information that is accurate only as of the date of this live broadcast, March 5, 2015.

Esperion undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this conference call. We issued a press release earlier today detailing the content of today's call. A copy can be found at within the Investors section.

We will begin with prepared comments from our team and then we will open the call for your questions. Following today's call, the management team will be available for any follow-up question. Please e-mail me directly at so that I can schedule 15 minutes for you to speak with the team.

Now I would like to turn the call over to Esperion's President and CEO, Tim Mayleben. Tim?

Tim Mayleben

Thank you, Mindy. Good afternoon everyone. I would also like to welcome you to our call and thank you for joining us today as we provide you with an update on the ETC-1002 clinical development program and our fourth quarter and full-year 2014 financial results.

I am going to start with a few initial comments. Marianne will then discuss the unmet need in statin tolerance. Rick will review a summary of our financial results from the fourth quarter and full year ended December 31, 2014 and I will wrap up with a summary of the key upcoming milestones for 2015. And then, of course, we will open the call to your questions.

Now 2014 has been or was the most successful year in our history and the Esperion team performed at a very high level. In particular I want to highlight three milestones. First, on October 1, ahead of plan, we reported positive topline results from the Phase 2b 008 clinical study in 349 patients with hypercholesterolemia with or without statin intolerance and the results that exceeded even our own high expectations. As a reminder, 1002 treated patients achieved LDL cholesterol lowering of up to 30% with monotherapy and almost 50% when 1002 was added to Ezetimibe.

Second, two weeks later we