930d090f1d646a472181407ad59ad387fd8e4b5921711bd169b69a35f19bfd19

Product Sales

Collaboration Revenue

Total Revenue

79384080c91f2dd8c4ccef71c49d7756f273f581e2d7cf13d2c87de01a9ef714

- NEXLETOL & NEXLIZET

- Collaboration Revenue

67e9422f4b82c9c46b56b236b843c72a161ffbc843731e2024d21128501f731e

c5ae48646eb13ae5d043faddcc356b3a8e42aa3acbd6553eb52986214a75a68e

Cash and cash equivalents (USD, thousands)

Total assets (USD, thousands)

Royalty sale liability (USD, thousands)

Convertible notes, net of issuance costs (USD, thousands)

Common stock (USD, thousands)

Accumulated deficit (USD, thousands)

Total stockholders’ deficit (USD, thousands)

346e897b5181108c7812282c76af4eac5e85c17b296a19a216b8dcadf3af1c35

The significant drop in cash during Q4 2023 was primarily driven by substantial net cash used in operating activities. **Operating costs**—including expenses related to the commercialization of NEXLETOL and NEXLIZET as well as ongoing research and development—resulted in net cash outflows totaling **$(135.5) million** in 2023, which was only partially offset by cash inflows from **investing activities** (**$42.5 million**) and **financing activities** (**$50.5 million**).  **[0001628280-24-007066_espr-20231231.htm:153]** **[0001628280-24-007066_espr-20231231.htm:183]**  This aggregate effect led to a reduction in cash and cash equivalents from **$124.8 million** at the end of 2022 to **$82.2 million** in Q4 2023.  **[0001628280-24-007035_q42023earningspressrelease.htm:5]** **[0001628280-24-007066_espr-20231231.htm:181]** **[0001628280-24-007066_espr-20231231.htm:159]** 

Why did cash drop so significantly in Q4 2023?

The surge in cash in Q1 2024 was primarily driven by **net cash provided by operating activities**, which included strong net product sales and a **$100 million litigation-related settlement** from Daiichi Sankyo Europe, along with **net cash provided by financing activities** through the issuance of common stock that raised over **$90 million**. Additionally, the company incurred only minimal cash outflow from investing activities, which further contributed to the overall increase in cash and cash equivalents.  **[0001628280-24-020841_q12024earningspressrelease.htm:2]** **[ESPR_3386772_1]** **[0001628280-24-020862_espr-20240331.htm:4]** 

What factors contributed to the surge in cash in Q1 2024?

The substantial increase in total assets in Q1 2024 was primarily driven by a **significant surge in cash and cash equivalents**. This surge resulted from a **$100 million litigation-related settlement** and **$90.7 million in net proceeds from an underwritten public offering**, which boosted cash from **$82,248 thousand** to **$226,609 thousand**. Additionally, **increases in accounts receivable** (from **$48,494 thousand** to **$54,612 thousand**) and **inventories** (from **$65,623 thousand** to **$73,095 thousand**) also contributed to the overall growth in total assets.  **[ESPR_3386772_1]** **[0001628280-24-020841_q12024earningspressrelease.htm:2]** **[0001628280-24-020862_espr-20240331.htm:2]** 

What drove the substantial increase in total assets in Q1 2024?

The total assets declined from **$373,060 thousand** in Q1 2024 to **$314,114 thousand** in Q3 2024.  **[0001628280-24-020862_espr-20240331.htm:2]** **[0001628280-24-046307_espr-20240930.htm:2]**  However, the documents do not provide any explicit details or reasons for this decline.

Why did total assets decline from Q1 2024 to Q3 2024?

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661eda1180fbcea46e36674b1df2a32a944edf9413a9bd36a304b67e1dd3ffef

Net loss [USD, thousands]

Non-cash loss on extinguishment of debt [USD, thousands]

Non-cash royalty revenue [USD, thousands]

Depreciation expense [USD, thousands]

Amortization of premiums and discounts on investments [USD, thousands]

Amortization of debt issuance costs [USD, thousands]

Non-cash interest expense related to the revenue interest liability [USD, thousands]

Stock-based compensation expense [USD, thousands]

Net cash provided by (used in) operating activities [USD, thousands]

Proceeds from sales/maturities of investments [USD, thousands]

Purchase of property and equipment [USD, thousands]

Net cash (used in) provided by investing activities [USD, thousands]

Payments on revenue interest liability [USD, thousands]

Repurchase of revenue interest liability [USD, thousands]

Payment of royalty sale liability issuance costs [USD, thousands]

Proceeds from royalty sale liability [USD, thousands]

Proceeds from issuance of common stock, warrants, and pre-funded warrants, net of issuance costs [USD, thousands]

Proceeds from issuance of common stock, net of issuance costs [USD, thousands]

Proceeds from issuance of common stock from ATM program, net of issuance costs [USD, thousands]

Proceeds from exercise of common stock options [USD, thousands]

Proceeds from exercise of warrants, net of issuance costs [USD, thousands]

Proceeds from exercise of pre-funded warrants [USD, thousands]

Net cash provided by financing activities [USD, thousands]

Net increase (decrease) in cash and cash equivalents [USD, thousands]

Accounts receivable [USD, thousands]

Prepaids and other assets [USD, thousands]

Deferred revenue [USD, thousands]

Inventories [USD, thousands]

Accounts payable [USD, thousands]

Other accrued liabilities [USD, thousands]

Cash and cash equivalents at beginning of period [USD, thousands]

Cash and cash equivalents at end of period [USD, thousands]

247c32141fb183ff28716d54610a82b6adbbf95e540e0862e7f0056383a547d6

Product sales, net (USD, thousands)

Collaboration revenue (USD, thousands)

Total Revenues (USD, thousands)

Cost of goods sold (USD, thousands)

Research and development (USD, thousands)

Selling, general and administrative (USD, thousands)

Total operating expenses (USD, thousands)

Income (loss) from operations (USD, thousands)

Interest expense (USD, thousands)

Loss on extinguishment of debt (USD, thousands)

Other income, net (USD, thousands)

Net loss (USD, thousands)

Net income (loss) (USD, thousands)

Net loss per common share - basic and diluted (USD)

Net income (loss) per common share - basic (USD)

Net income (loss) per common share - diluted (USD)

Weighted-average shares outstanding - basic and diluted (thousands)

Weighted-average shares outstanding - basic (thousands)

Weighted-average shares outstanding - diluted (thousands)

Unrealized gain on investments (USD, thousands)

Comprehensive loss (USD, thousands)

Comprehensive income (loss) (USD, thousands)

e25781481c777e1cca04078c2626eb95119df27340bf6ceffa041a1f46cb4b5c

Esperion Therapeutics Inc (ESPR)

Financials