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Biotech / Medical : Biotech Valuation

CRSP 56.68

-2.4%

3:59 PM EST

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To: Ian@SI who wrote (9417)	11/5/2003 5:35:51 PM
From: Biomaven	Read Replies (2) of 52153

Here's the epilogue to the past few days: Reuters Esperion shares recover as data seen positive Wednesday November 5, 4:48 pm ET NEW YORK, Nov 5 (Reuters) - Shares of Esperion Therapeutics Inc. (NasdaqNM:ESPR - News) rose 35 percent on Wednesday, recovering almost all of the previous days' losses, as investors obtained more information about the company's experimental drug designed to reverse clogging of the arteries. ADVERTISEMENT Shares of the company fell 26 percent on Monday and slipped again on Tuesday on concern that data released in the Journal of the American Medical Association (News - Websites) indicated the drug might be less effective than some had hoped. But on Wednesday the stock closed up $6.10 to $23.60 on the Nasdaq after company officials assured analysts that the 4.2 percent reduction of damaging plaque in coronary arteries that its drug produced was in fact promising. "We believe that the data provide significant evidence for the first time that HDL therapy can rapidly reverse atherosclerosis," or hardening of the arteries, said Mark Monane, an analyst at Needham & Co. HDL is the good cholesterol that sweeps away bad LDL cholesterol from tissues, preventing clogging of the arteries that can lead to heart attacks and stroke. Shares of Esperion had closed at $23.87 on Friday, before data from the study sent the stock on its three-day rollercoaster ride. FWIW, I sold my trading shares today that I had bought over the last two days. Too bad I didn't have the guts to trade in size.

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