Why Esperion Therapeutics Stock Is Falling Today

On Wednesday morning, Biotech company Esperion Therapeutics (NASDAQ: ESPR) released unaudited preliminary results for the fourth quarter of its fiscal year 2020. However, investors don't seem too impressed with these results and they are selling off shares of the drugmaker as a result. As of 1:13 p.m. EST, Esperion Therapeutics' stock is down by 11.4%, after dropping by as much as 12.5% earlier in the day.

Esperion Therapeutics thinks its revenue for the fourth quarter will be between $8 million and $8.5 million. The biotech only reported $982,000 in revenue during the comparable period of the previous fiscal year, which it generated thanks to collaboration agreements. Esperion Therapeutics had no products on the market in 2019, but it earned a couple of approvals from the U.S. Food and Drug Administration (FDA) in 2020.

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Source Fool.com