ANN ARBOR, Mich.--(BUSINESS WIRE)--Esperion Therapeutics, Inc. (NASDAQ: ESPR), an emerging pharmaceutical company focused on developing and commercializing first-in-class, oral low-density lipoprotein cholesterol (LDL-cholesterol) lowering therapies for the treatment of hypercholesterolemia and other cardiometabolic risk markers, today announced the closing of its follow-on public offering of 4,887,500 shares of common stock, offered at a price to the public of $20.00 per share, which includes the exercise in full by the underwriters of their option to purchase 637,500 additional shares of common stock. This exercise brings the net proceeds in the offering to $91.6 million, after deducting underwriting discounts and commissions and expenses payable by Esperion. Esperion intends to use the net proceeds from the offering, as well as its other existing capital resources, to fund the continued development of ETC-1002 through completion of the anticipated Phase 3 development program, which will include several clinical studies; chemistry, manufacturing and controls (CMC) scale up and supplies development; regulatory compliance and the remainder for working capital and general corporate and administrative expenses.
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