ESPRMEDIUM SIGNALOPPORTUNITY10-K

ESPR achieved significant operational progress with Japanese regulatory approval for NEXLETOL and strong revenue growth of 21.3%, while also pursuing the pending Corstasis acquisition.

The company has successfully expanded its global footprint with Otsuka receiving Japanese approval and NHI pricing for NEXLETOL in 2025, representing a major milestone that was ahead of previous guidance. The substantial increase in shares outstanding (30% growth) suggests recent equity financing, while the pending Corstasis acquisition indicates strategic expansion efforts that could drive future growth.

Comparing 2026-03-10 vs 2025-03-07View on EDGAR →
FINANCIAL ANALYSIS

ESPR demonstrated strong operational momentum with revenue growing 21.3% to $403.1M and losses narrowing significantly from -$51.7M to -$22.7M, representing a 56% improvement in profitability. The balance sheet strengthened considerably with current assets expanding 36.9% driven by higher accounts receivable (+74.9%) reflecting increased sales, while stockholders' equity improved 22.3% despite remaining negative. Operating cash flow losses also narrowed by 45%, indicating the business is moving toward profitability as revenue growth accelerates.

FINANCIAL STATEMENT CHANGES
Accounts Receivable
Balance Sheet
+74.9%
$80.1M→$140.2M

Receivables surged 74.9% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Net Income
P&L
+56.2%
-$51.7M→-$22.7M

Net income grew 56.2% — bottom-line growth signals improving overall business health.

Operating Cash Flow
Cash Flow
+44.6%
-$23.7M→-$13.1M

Operating cash flow surged 44.6% — exceptional cash generation, highest quality earnings signal.

Current Assets
Balance Sheet
+36.9%
$338.0M→$462.6M

Current assets grew 36.9% — improving short-term liquidity or inventory/receivables build.

Total Assets
Balance Sheet
+35.5%
$343.8M→$465.9M

Asset base grew 35.5% — expansion through organic growth, acquisitions, or capital deployment.

Stockholders Equity
Balance Sheet
+22.3%
-$388.7M→-$302.0M

Equity base grew 22.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Current Liabilities
Balance Sheet
+22.2%
$246.2M→$300.8M

Current liabilities rose 22.2% — increased short-term obligations, watch current ratio.

Revenue
P&L
+21.3%
$332.3M→$403.1M

Revenue growing 21.3% — solid top-line momentum, watch margins for quality of growth.

Cash & Equivalents
Balance Sheet
+16%
$144.8M→$167.9M

Cash grew 16% — improving liquidity position supports investment and shareholder returns.

Inventory
Balance Sheet
+11.3%
$94.5M→$105.1M

Inventory built 11.3% — monitor whether demand supports this build or if write-downs may follow.

LANGUAGE CHANGES
NEW — 2026-03-10
PRIOR — 2025-03-07
ADDED
As of March 1, 2026, there were 256,810,482 shares of the registrant s common stock, $0.001 par value per share, outstanding.
Food and Drug Administration, or FDA, the European Commission (which, with respect to the United Kingdom, or UK, has been converted to a UK marketing authorization), and the Swiss Agency for Therapeutic Products, or Swissmedic, for both of our leading products based on positive CLEAR Outcomes data that include indications for cardiovascular risk reduction and expanded LDL-C lowering in both primary and secondary prevention patients.
We cannot be certain whether or when we will consummate our pending acquisition with Corstasis Therapeutics Inc., or if such acquisition does close, when or if, or the extent to which, we will recognize the anticipated benefits of that acquisition.
It is possible that we may have difficulty integrating the operations of Corstasis or any other business we may acquire in the future, We may be at an increased risk of securities class action litigation.
Our products were approved by the FDA, European Commission, or EC (which, with respect to the UK, has been converted to a UK marketing authorization), and Swiss Agency for Therapeutic Products, or Swissmedic in 2020.
Otsuka Pharmaceutical Co., Ltd., or Otsuka, our Japanese collaborator, received approval from the Japanese Ministry of Health, Labour and Welfare to market NEXLETOL as a treatment for hypercholesterolemia and familial hypercholesterolemia in September 2025, with National Health Insurance, or NHI, pricing received in the fourth quarter of 2025.
We filed supplemental NDAs for product approvals in Canada in November 2024, with NEXLETOL receiving approval in the fourth quarter of 2025 and NEXLIZET approval expected in the first half of 2026.
Our collaboration partners filed in Israel in March 2025, with expected approval in the first half of 2026, and in Australia in July 2025, with expected approval in the fourth quarter of 2026.
Our Strategy We are focused on execution of our Vision 2040 roadmap by discovering, developing, and commercializing innovative medicines to help improve outcomes for patients.
The completed Phase 3 Cholesterol Lowering via Bempedoic acid, an ACL-Inhibiting Regimen (CLEAR) Outcomes trial in patients unwilling or unable to take statins and who had, or were at high risk for, CVD demonstrated on average a 20% placebo-corrected LDL-C reduction, and a resulting 13% lower risk of major cardiovascular events versus placebo.
REMOVED
As of February 28, 2025, there were 197,848,886 shares of the registrant s common stock, $0.001 par value per share, outstanding.
Food and Drug Administration, or FDA, the European Medicines Agency, or EMA (which, with respect to the United Kingdom, or UK, converted to a Great Britain marketing authorization on January 1, 2021), and the Swiss Agency for Therapeutic Products, or Swissmedic, for both of our leading products based on positive CLEAR Outcomes data that include indications for cardiovascular risk reduction and expanded LDL-C lowering in both primary and secondary prevention patients.
We may be at an increased risk of securities class action litigation.
Our products were approved by the FDA, European Commission, or EC, and Swiss Agency for Therapeutic Products, or Swissmedic in 2020.
In addition, Otsuka Pharmaceutical Co., Ltd., or Otsuka, our Japanese collaborator, announced that the primary endpoint of LDL-C reduction from baseline at Week 12 was achieved with statistical significance in the Phase 3 clinical trial in Japan for bempedoic acid as a treatment for hypercholesterolemia.
Otsuka filed a New Drug Application, or NDA, in Japan in November 2024, with expected approval and National Health Insurance, or NHI, pricing in the second half of 2025.
We filed supplemental NDAs for product approvals in Canada in November 2024 and our collaboration partners plan to file in Australia and Israel in the first half of 2025.
We completed a global cardiovascular outcomes trial, or CVOT, known as C holesterol L owering via B E mpedoic Acid, an A CL-inhibiting R egimen (CLEAR) Outcomes.
The trial was designed to evaluate whether treatment with bempedoic acid reduced the risk of cardiovascular events in adult patients who are statin averse and who have CVD or are at high risk for CVD.
We initiated the CLEAR Outcomes CVOT in December 2016 and fully enrolled the study with nearly 14,000 patients in August 2019.
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