Boston, MA, 03/12/2014 – March 5 saw a conference call and webcast by Esperion Therapeutics for the program update on ETC-1002. The conference call also included the reports of the fourth quarter as well as the financial report for the fiscal year 2013. Esperion Therapeutics, Inc. (NASDAQ:ESPR), a leading biopharmaceutical company for cholesterol lowering therapies, organized the conference call for the above mentioned subjects as well as to discuss the anticipated financial results for the future and other ideas and programs for the future performance of the company. Certain arrangements were made for the live audio webcast of the conference call, so as to be assessable for everyone on the Esperion Website in the section “investor relations”.
The company also made available the replay call of the conference call which was provided just two hours after the completion of the call which is to be archived for the coming two weeks on the company’s website. Here are a few excerpts of the conference call.
Fourth quarter and 2013 financial results
The company revealed that its cash and investment securities which was calculated to be $6.5 million at the end of the year 2012 has climbed up to $77.6 million at December 31, 2013. This was seen as a big boost to the financial strength of the company. The fourth quarterly report for the year 2013 also revealed that the research and development expenses were $7.3 million, which adds the expenses to $16 million for the year 2013. A significant rise in this expense was seen as the development of the company, driven by the program ETC-1002.
Future financial outlook
Esperion Therapeutics, Inc. (NASDAQ:ESPR) expects about $35 to $40 million net cash to be used in operating activities and the cash equivalent was expected to rise up to $40 million at the end of the year 2014. The existing cash resources are expected to fund the company till the end of the year 2015.