Es­pe­ri­on tanks on warn­ing that the road to an FDA de­ci­sion could be much, much longer than they thought

Last sum­mer Es­pe­ri­on ($ES­PR) trig­gered a big ral­ly for its shares when CEO Tim Mayleben told in­vestors and an­a­lysts that the FDA wouldn’t re­quire a longterm car­dio out­comes study be­fore is­su­ing a mar­ket­ing de­ci­sion on its cho­les­terol-low­er­ing drug.

To­day, that one-time cer­tain­ty be­came dis­tinct­ly cloudy as Mayleben says the FDA may in fact do what some in­vestors had feared — put any mar­ket­ing de­ci­sion well down the road.

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