Athyrium Capital and Esperion Enter $50M Financing Agreement
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 02 2026
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Should l Buy ESPR?
Athyrium Capital and Esperion announced the entry into a $50M royalty financing agreement under which certain funds managed by Athyrium Capital Management will acquire 100% of Esperion's royalty interest, held by Esperion pursuant to that certain license and collaboration agreement, dated as of April 17, 2020, as amended, by and among Esperion and Otsuka Pharmaceutical, of Otsuka's net sales of bempedoic acid products in Japan from and after January 1, together with related regulatory and commercial milestone payments, subject to a cap. Under the terms of the financing agreement, the Athyrium Funds will receive tiered royalties on net sales of Otsuka's bempedoic acid products in Japan from and after January 1, ranging from 12% to 33%, as well as associated regulatory and commercial milestone payments, until they have received aggregate payments equal to 2.0x their investment. Thereafter, all future royalties on Japan net sales of Otsuka's bempedoic acid products and related milestone payments will revert to Esperion. The transaction provides Esperion with non-dilutive capital to support its recent acquisition of Corstasis Therapeutics, a privately-held, commercial-stage cardiovascular company whose lead asset, Enbumyst, is the first and only FDA-approved intranasal loop diuretic for treatment of edema associated with cardiovascular and hepatic and renal disease. This transaction represents the Athyrium Funds' second financing with Esperion in the past 16 months, following investment in the $150M senior secured loan facility that closed in December 2024, and underscores the Athyrium Funds' continued support of Esperion.
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Analyst Views on ESPR
Wall Street analysts forecast ESPR stock price to rise
5 Analyst Rating
4 Buy
0 Hold
1 Sell
Moderate Buy
Current: 2.170
Low
1.72
Averages
7.94
High
16.00
Current: 2.170
Low
1.72
Averages
7.94
High
16.00
About ESPR
Esperion Therapeutics, Inc. is a commercial-stage biopharmaceutical company focused on developing and delivering cardiometabolic and rare/orphan disease therapies. It markets two oral, once-daily, non-statin therapies for patients struggling to maintain their low-density lipoprotein cholesterol (LDL-C) levels who are at risk of cardiovascular disease and nasal spray, loop diuretic for the treatment of edema associated with congestive heart failure, and hepatic and renal disease. Its products include NEXLETOL, NEXLIZET, NILEMDO and NUSTENDI. NEXLETOL is a first-in-class ACLY inhibitor that lowers LDL-C and cardiovascular risk by reducing cholesterol biosynthesis and up-regulating LDL receptors. NEXLIZET contains bempedoic acid and ezetimibe and lowers elevated LDL-C through complementary mechanisms of action by inhibiting cholesterol synthesis in the liver and cholesterol absorption in the intestine. Its Enbumyst is the FDA-approved nasal spray loop diuretic.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Esperion Reports 38% Revenue Growth and Enbumyst Launch Plans at Needham Conference
- Significant Revenue Growth: Esperion reported a 38% year-over-year revenue increase, indicating strong performance in the cardiovascular drug market, which is expected to further solidify its market position in lipid-lowering therapies.
- New Product Launch Plans: The company plans to deploy 155 sales representatives by May 1, aiming for a full commercial launch of Enbumyst by September 2025, targeting fluid management for heart failure patients to reduce hospital readmission rates.
- Acquisition Strategy: Esperion acquired Corstasis for an upfront payment of $75 million, with up to $180 million in sales milestones and a 15% royalty on worldwide net sales, providing financial support for expanding its product portfolio.
- Guideline Update Impact: The recent treatment guidelines provide multiple Class 1A recommendations for Esperion's NEXLETOL and NEXLIZET, which is expected to drive further penetration in the lipid-lowering market, particularly among primary prevention and statin-intolerant patients.
See More
Esperion Outlines Future Growth Plans and Acquisition Strategy
- Market Penetration Plans: Esperion aims to enhance its U.S. market penetration through strengthened collaborations with global partners, which is expected to increase its market share in the cardiovascular sector, thereby bolstering its position in the competitive pharmaceutical landscape.
- Financial Performance Analysis: Despite reporting an EPS of $0.22 in Q4, below Wall Street's expectation of $0.28, and revenue of $168.5 million, CEO emphasized that 2025 will be a defining year for growth, reflecting confidence in future prospects.
- Acquisition Strategy: Esperion's acquisition of Corstasis Therapeutics for $75 million is anticipated to create long-term value and advance its Vision 2040 strategy, aiming to grow both franchises to multi-billion-dollar potential.
- Investor Sentiment: Although the stock fell over 6% post-report, retail sentiment on Stocktwits remained 'extremely bullish', indicating optimism about Esperion's upcoming growth catalysts.
See More
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- Strategic Acquisition Progress: The announced acquisition of Corstasis Therapeutics is expected to create powerful synergies for its global bempedoic acid portfolio and Enbumyst product line, targeting a $4 billion U.S. outpatient heart failure market, thereby further solidifying its market position.
- Accelerated International Expansion: Daiichi Sankyo Europe reported a 51% increase in royalty revenue in Q4, successfully entering 30 countries and launching in France, indicating the company's capability and growth potential in global markets.
- Optimistic Future Outlook: The company projects 2026 operating expenses to range between $225 million and $255 million, including $15 million in non-cash stock compensation expenses, with management expressing confidence in future market positioning and product launches, particularly in the upcoming U.S. dyslipidemia guidelines.
See More
ESPERION THERAPEUTICS STOCK RISES 2.5% FOLLOWING Q4 PROFIT TURNAROUND
- Company Performance: Esperion Therapeutics shares increased by 2.5% following the announcement of their Q4 profit.
- Market Reaction: The rise in shares indicates positive investor sentiment towards the company's financial results.
See More
Esperion Reports 21% Revenue Growth in FY25, Acquires Corstasis Therapeutics
- Strong Financial Performance: Esperion reported total revenue of $403.1 million for FY25, reflecting a 21% year-over-year increase, with U.S. net product revenue reaching $159.6 million, up 38%, indicating robust growth in its cardiovascular franchise.
- Strategic Acquisition: The company announced the acquisition of Corstasis Therapeutics to accelerate growth and expand its cardiovascular portfolio, particularly with Enbumyst™ nasal diuretic, which targets a market of over 6.7 million U.S. heart failure patients, enhancing market share.
- Prescription Growth: In Q4 2025, retail prescription equivalents grew by 34% year-over-year and 11.3% quarter-over-quarter, reflecting ongoing improvements in market penetration and brand recognition, thereby strengthening Esperion's position in the competitive cardiovascular drug market.
- Increased R&D Investment: R&D expenses rose by 26% to $47.9 million in 2025, primarily driven by clinical study costs, demonstrating the company's commitment to innovative drug development, which is expected to lay the groundwork for future product line expansions.
See More
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- Significant Revenue Growth: Esperion's Q4 revenue reached $168.45 million, reflecting a remarkable 143.7% year-over-year increase, surpassing expectations by $2.33 million, indicating strong market performance, particularly in new product sales.
- Net Product Sales Surge: U.S. net product sales grew approximately 38% year-over-year to $43.7 million, with full-year 2025 sales also increasing by 38% to $159.6 million, demonstrating significant progress in expanding market share.
- Strong Prescription Growth: Q4 retail prescription equivalents showed a 34% year-over-year increase and an 11.3% sequential growth, reflecting rising consumer demand for Esperion's products and further solidifying its market position.
- Transparent Expense Outlook: The company expects operating expenses for 2026 to range between $225 million and $255 million, including approximately $15 million in non-cash expenses related to stock compensation, indicating a cautious approach to cost management.
See More
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- Significant Revenue Growth: Esperion reported a 38% year-over-year revenue increase, indicating strong performance in the cardiovascular drug market, which is expected to further solidify its market position in lipid-lowering therapies.
- New Product Launch Plans: The company plans to deploy 155 sales representatives by May 1, aiming for a full commercial launch of Enbumyst by September 2025, targeting fluid management for heart failure patients to reduce hospital readmission rates.
- Acquisition Strategy: Esperion acquired Corstasis for an upfront payment of $75 million, with up to $180 million in sales milestones and a 15% royalty on worldwide net sales, providing financial support for expanding its product portfolio.
- Guideline Update Impact: The recent treatment guidelines provide multiple Class 1A recommendations for Esperion's NEXLETOL and NEXLIZET, which is expected to drive further penetration in the lipid-lowering market, particularly among primary prevention and statin-intolerant patients.
See More
Esperion Outlines Future Growth Plans and Acquisition Strategy
- Market Penetration Plans: Esperion aims to enhance its U.S. market penetration through strengthened collaborations with global partners, which is expected to increase its market share in the cardiovascular sector, thereby bolstering its position in the competitive pharmaceutical landscape.
- Financial Performance Analysis: Despite reporting an EPS of $0.22 in Q4, below Wall Street's expectation of $0.28, and revenue of $168.5 million, CEO emphasized that 2025 will be a defining year for growth, reflecting confidence in future prospects.
- Acquisition Strategy: Esperion's acquisition of Corstasis Therapeutics for $75 million is anticipated to create long-term value and advance its Vision 2040 strategy, aiming to grow both franchises to multi-billion-dollar potential.
- Investor Sentiment: Although the stock fell over 6% post-report, retail sentiment on Stocktwits remained 'extremely bullish', indicating optimism about Esperion's upcoming growth catalysts.
See More
Esperion Reports Record Q4 2025 Earnings and Strategic Acquisition
- Strong Financial Performance: Esperion's Q4 total revenue reached $168.4 million, marking a 144% year-over-year increase, with U.S. net product revenue at $43.7 million, reflecting approximately a 38% growth compared to the same period in 2024, showcasing robust market execution and product demand.
- Strategic Acquisition Progress: The announced acquisition of Corstasis Therapeutics is expected to create powerful synergies for its global bempedoic acid portfolio and Enbumyst product line, targeting a $4 billion U.S. outpatient heart failure market, thereby further solidifying its market position.
- Accelerated International Expansion: Daiichi Sankyo Europe reported a 51% increase in royalty revenue in Q4, successfully entering 30 countries and launching in France, indicating the company's capability and growth potential in global markets.
- Optimistic Future Outlook: The company projects 2026 operating expenses to range between $225 million and $255 million, including $15 million in non-cash stock compensation expenses, with management expressing confidence in future market positioning and product launches, particularly in the upcoming U.S. dyslipidemia guidelines.
See More
ESPERION THERAPEUTICS STOCK RISES 2.5% FOLLOWING Q4 PROFIT TURNAROUND
- Company Performance: Esperion Therapeutics shares increased by 2.5% following the announcement of their Q4 profit.
- Market Reaction: The rise in shares indicates positive investor sentiment towards the company's financial results.
See More
Esperion Reports 21% Revenue Growth in FY25, Acquires Corstasis Therapeutics
- Strong Financial Performance: Esperion reported total revenue of $403.1 million for FY25, reflecting a 21% year-over-year increase, with U.S. net product revenue reaching $159.6 million, up 38%, indicating robust growth in its cardiovascular franchise.
- Strategic Acquisition: The company announced the acquisition of Corstasis Therapeutics to accelerate growth and expand its cardiovascular portfolio, particularly with Enbumyst™ nasal diuretic, which targets a market of over 6.7 million U.S. heart failure patients, enhancing market share.
- Prescription Growth: In Q4 2025, retail prescription equivalents grew by 34% year-over-year and 11.3% quarter-over-quarter, reflecting ongoing improvements in market penetration and brand recognition, thereby strengthening Esperion's position in the competitive cardiovascular drug market.
- Increased R&D Investment: R&D expenses rose by 26% to $47.9 million in 2025, primarily driven by clinical study costs, demonstrating the company's commitment to innovative drug development, which is expected to lay the groundwork for future product line expansions.
See More
Esperion Reports Q4 Earnings Beat with Strong Revenue Growth
- Significant Revenue Growth: Esperion's Q4 revenue reached $168.45 million, reflecting a remarkable 143.7% year-over-year increase, surpassing expectations by $2.33 million, indicating strong market performance, particularly in new product sales.
- Net Product Sales Surge: U.S. net product sales grew approximately 38% year-over-year to $43.7 million, with full-year 2025 sales also increasing by 38% to $159.6 million, demonstrating significant progress in expanding market share.
- Strong Prescription Growth: Q4 retail prescription equivalents showed a 34% year-over-year increase and an 11.3% sequential growth, reflecting rising consumer demand for Esperion's products and further solidifying its market position.
- Transparent Expense Outlook: The company expects operating expenses for 2026 to range between $225 million and $255 million, including approximately $15 million in non-cash expenses related to stock compensation, indicating a cautious approach to cost management.
See More
