Esperion Therapeutics plans initial public offering of common stock

Proceeds will be used for clinical development, corporate purposes

By Angela McDaniels

Tacoma, Wash., May 14 - Esperion Therapeutics, Inc. announced plans for an initial public offering of its common stock.

The company has applied to list the stock on the Nasdaq Global Market under the symbol "ESPR," according to an S-1 filing with the Securities and Exchange Commission.

Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., JMP Securities LLC and Stifel, Nicolaus & Co., Inc. are the underwriters.

The company said it plans to use substantially all of the proceeds to fund the clinical development of ETC-1002, its lead product candidate, through the completion of its currently anticipated phase 2b clinical trials and end of phase 2 meeting with the Food and Drug Administration. The product is designed to lower cholesterol.

Remaining proceeds will be used for the further advancement of the company's early-stage development programs and for general corporate purposes.

Esperion Therapeutics is a biopharmaceutical company based in Plymouth, Mich.

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