Esperion Therapeutics (NASDAQ: ESPR) reported Q2 EPS of $4.32, $2.61 better than the analyst estimate of $1.71. Revenue for the quarter came in at $212.2 million versus the consensus estimate of $147.97 million.

“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 NEXLIZET™ 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 we’ve 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.”

GUIDANCE:

Esperion’s 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 and/or milestone payment(s) 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

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