ARTICLE | Financial News

Esperion haircut after $85M follow-on

October 17, 2014 2:45 AM UTC

Esperion Therapeutics Inc. (NASDAQ:ESPR) lost $2.56 (11%) to $20.69 after it raised $85 million through the sale of 4.3 million shares at $20 in a follow-on underwritten by J.P. Morgan; BofA Merrill Lynch; JMP Securities; Stifel; and Needham.

Esperion proposed the offering after-market on Oct. 14, when its shares closed at $25.92. The stock remains up from its Sept. 23 close of $16.17, a week before it announced positive Phase IIb data for ECT-1002 to treat hypercholesterolemia (see BioCentury Extra, Oct. 1). ...