Chardan analyst Gbola Amusa came out today with some commentary on Esperion Therapeutics Inc (NASDAQ:ESPR)’s top-line results from ETC-1002-014, a Phase 2 exploratory study evaluating the safety and efficacy of ETC-1002 in patients with both hypercholesterolemia and hypertension.
Amusa stated, “We do not consider Study 014 results “positive” due to: 4 SAEs after just 6 weeks, 2 of which involved musculoskeletal chest pain (apparently deemed not drug-related), and diminishing ETC-1002 efficacy relative to prior studies.” Furthermore, “Listening to the conference call, we grew concerned hearing that ETC-1002 was associated with 4 serious adverse events (SAEs) after only 6 weeks of treatment: one case of atrial flutter, one case of craniocerebral injury, and two cases of non-cardiac chest pain (musculoskeletal). That there were two cases of musculoskeletal chest pain, rather than just one, in a single trial, suggests the possibility of causation and to us raises a number of safety questions.”
“For now, we wish to emphasize that it is unclear why “musculoskeletal” chest pain is not considered a “muscle-related AE”. Second, we note that the LDL-lowering power for monotherapy of 180mg of ETC-1002 has gone from 30% in Study -008 to 24% in Study -014, which along with earlier studies, to us raises the question of a pattern of declining LDL-lowering capability for ETC-1002.”, the analyst added.
The analyst reiterated a Sell rating on ESPR with a price target of $40.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Gbola Amusa has a total average return of 18.3% and a 62.2% success rate. Amusa has a 21.5% average return when recommending ESPR, and is ranked #348 out of 3717 analysts.