Esperion stock halved after Daiichi discord over $440M heart pill milestones
Esperion’s CLEAR Outcomes trial does not have a clear outcome regarding partner Daiichi Sankyo ponying up the big biobucks.
Esperion’s heart pill, which has struggled to gain traction, was due for up to $440 million in milestones from Daiichi following a data readout earlier this month aiming to expand the EU and US labels.
But the Michigan biotech’s partner appears to disagree on which data would trigger the payments. Esperion outlined the mismatched views in an SEC filing Wednesday afternoon, and investors sent the company’s stock $ESPR on a rapid 54% decline in after-hours trading.
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