ESPR price has been a roller coaster the past 4 years. Not entirely the fault of ESPR, but a lot of influence by status of competitor PCSK9 drugs and the pathway to approval by FDA for LDL-C lowering and not just cardiovascular event lowering. However, the price action this week is mostly the fault of ESPRs trial. This correction to ~$1B market cap may be a reality check on ESPR. The $2B market cap prior to yesterday was perhaps investors feeling super confident that it would be smooth sailing through FDA/EMA approval for LDL-C lowering in 2019. Now, there is some question about safety and uncertainty about timely FDA/EMA approval. No risk, no reward? The bright side is that for new buyers there is more upside. The downside is a lot more uncertainty/risk going forward.

The more the play is de-risked, the more likely the share price will bounce back. The converse is also true. I think Resverlogix has a lot of de-risking to prove. Starting with the SSRA.