Quantcast


Last updated: June 26. 2013 12:40PM - 486 Views
Associated Press



Story Tools:

Font Size:

Social Media:

(AP) Shares of Esperion Therapeutics Inc. jumped Wednesday in their first day of trading after the drug developer $70 million in an initial public offering.


In midday trading, the drug developer's shares rose $1.27, or 9 percent, to $15.27, after jumping as high as $17.40 earlier in the session. Earlier, Esperion sold 5 million shares for $14 each, resulting in $70 million in proceeds.


Esperion is developing a new kind of experimental drug that would lower LDL cholesterol, commonly known as "bad" cholesterol. Roger Newton, the company's founder, executive chairman and chief scientific officer, is a co-discoverer of the cholesterol drug Lipitor, the world's top-selling drug for more than a decade.


The shares are trading on the Nasdaq under the ticker symbol "ESPR." The company is based in Plymouth, Mich.


Associated Press
Comments
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com