Esperion Therapeutics and Corstasis Therapeutics Announce Esperion’s Definitive Agreement to Acquire Corstasis, Expanding Its Cardiovascular Franchise with Enbumyst™ (bumetanide nasal spray)

Rhea-AI Summary

Esperion (NASDAQ: ESPR) agreed to acquire Corstasis to add Enbumyst™ (bumetanide nasal spray), the first FDA‑approved intranasal loop diuretic (approved Sept 2025), for edema associated with CHF, hepatic and renal disease. The deal includes a $75 million upfront cash payment, up to $180 million in milestones, low double‑digit royalties, and expected close in Q2 2026.

Esperion will finance the transaction via existing credit facilities and royalty monetization and expects the product to leverage its cardiovascular commercial infrastructure to drive double‑digit revenue growth and expand its portfolio.

Positive

• FDA approval (Sept 2025) for Enbumyst for CHF, hepatic and renal edema
• $75 million upfront acquisition payment
• Up to $180 million in milestone payments tied to regulatory and commercial goals
• Low double‑digit royalties provide ongoing Corstasis upside
• Addressable U.S. market potential exceeding $4 billion
• Expected close in Q2 2026 to accelerate commercial rollout

Negative

• Esperion will use credit facilities and royalty monetization to finance the deal, adding leverage risk
• Future $180 million in contingent payments could increase cash obligations
• Royalties on Enbumyst sales may pressure gross margins versus full ownership

Key Figures

Upfront acquisition payment: $75 million Milestone payments: Up to $180 million U.S. CHF market: $4 billion +5 more

8 metrics

Upfront acquisition payment $75 million Cash consideration for Corstasis acquisition

Milestone payments Up to $180 million Contingent on regulatory and commercial achievements

U.S. CHF market $4 billion Potential U.S. market opportunity targeted by Enbumyst

CHF patients 6.7 million Estimated American adults living with congestive heart failure

FDA approval date September 2025 Enbumyst nasal spray approval for edema in adults

Transaction close target Q2 2026 Expected closing timeframe for Corstasis acquisition

Conference call time 8:00 a.m. ET Esperion call to discuss acquisition on March 3, 2026

Current share price $3.27 Pre-news price, 2.39% below prior close

Market Reality Check

Price: $3.27 Vol: Volume 2,181,666 is below...

low vol

$3.27 Last Close

Volume Volume 2,181,666 is below the 20-day average of 3,176,259, suggesting no pre-news volume spike. low

Technical Shares at 3.27 trade above the 200-day MA 2.5, but remain 21.68% below the 52-week high and 372.2% above the 52-week low.

Peers on Argus

ESPR was down 2.39% while key peers were mixed: AQST +9.46%, SIGA +2.34%, EOLS +...

1 Down

ESPR was down 2.39% while key peers were mixed: AQST +9.46%, SIGA +2.34%, EOLS +0.94%, AKBA -0.79%, ORGO -3.23%. Momentum scans only flagged PCRX at -10.24% with no news, pointing to a stock-specific setup for ESPR rather than a sector-wide move.

Historical Context

5 past events · Latest: Feb 24 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 24	Earnings date set	Neutral	-1.2%	Announced timing of Q4 and full-year 2025 financial results webcast.
Feb 18	Conference participation	Neutral	+0.6%	Planned presentation at 2026 Citizens Life Sciences Conference with webcast access.
Feb 17	Patent settlement	Positive	+3.5%	Settlement limiting a generic filer from marketing NEXLETOL/NEXLIZET before Apr 19, 2040.
Feb 11	Inducement grants	Neutral	-1.7%	Granted 40,200 RSUs to 11 new hires under inducement equity plan.
Jan 11	Business update	Positive	-8.5%	Preliminary 2025 revenue growth, cash of ≈<b>$168M</b>, and Vision 2040 strategy at JP Morgan.

Pattern Detected

Recent ESPR news often saw muted or negative reactions, even to seemingly positive strategic or growth updates.

Recent Company History

Over the past six weeks, Esperion has focused on growth, legal, and capital markets positioning. A Jan 11, 2026 business update outlined strong 2025 revenue growth and a long‑term Vision 2040 strategy, yet the stock fell 8.51%. Subsequent items—inducement grants, a patent settlement extending exclusivity into 2040, a conference appearance, and an earnings date notice—produced modest single‑digit moves. Today’s acquisition of Corstasis fits the pattern of strategic expansion within cardiovascular and adjacent metabolic, hepatic, and renal markets.

Market Pulse Summary

This announcement adds Enbumyst, an FDA‑approved intranasal loop diuretic, to Esperion’s cardiovascu...

Analysis

This announcement adds Enbumyst, an FDA‑approved intranasal loop diuretic, to Esperion’s cardiovascular portfolio through a $75 million upfront acquisition plus up to $180 million in milestones. It targets an estimated 6.7 million U.S. CHF patients and a stated U.S. market opportunity above $4 billion, tying directly into the company’s Vision 2040 growth strategy. Investors may track closing in Q2 2026, financing impacts from credit and royalty monetization, and subsequent revenue contributions from Enbumyst.

Key Terms

loop diuretic, congestive heart failure, intranasal, sub-cutaneous, +3 more

7 terms

loop diuretic medical

"the First and Only FDA-Approved Nasal Spray Loop Diuretic for Edema"

A loop diuretic is a prescription drug that helps the kidneys remove excess salt and water from the body by targeting a key part of the kidney’s filtering system; think of it as opening a bigger drain to clear a flooded basement. It matters to investors because these drugs are widely used to treat conditions like heart failure and fluid overload, so changes in prescribing guidelines, clinical trial results, safety concerns, or pricing can directly affect sales, hospital use, and healthcare costs.

congestive heart failure medical

"edema associated with congestive heart failure (CHF)"

A chronic condition in which the heart cannot pump blood efficiently enough to meet the body's needs, causing fluid buildup in the lungs and tissues; think of the heart as a weakened pump that lets pressure and fluid back up into pipes. It matters to investors because it drives demand for medications, medical devices, hospital services and long‑term care, influences healthcare spending and clinical trial activity, and can materially affect the revenue and regulatory risk for companies developing treatments.

intranasal medical

"Enbumyst’s novel intranasal delivery, established regulatory approval"

Administration or delivery of a drug or vaccine through the nose, typically via a spray or drops that are absorbed by the nasal tissues. For investors, intranasal products can matter because they often offer easier, needle-free use, faster onset of effect, and potential cost or compliance advantages that can widen a product’s market and affect regulatory review, manufacturing complexity, and commercial prospects — similar to how a convenient app can outsell a clunky desktop program.

sub-cutaneous medical

"Corstasis is advancing a sub-cutaneous pipeline, including a multidose pen injector"

Sub-cutaneous means located just under the skin; in medicine it commonly describes injections or drug delivery into the thin layer of fat and tissue beneath the skin rather than into a vein or muscle. For investors, the route matters because sub-cutaneous medicines can change how easy a drug is to give, how often patients need treatment, and the cost and complexity of manufacturing and regulation—factors that affect market size, adoption, and revenue.

royalties financial

"Royalties on Worldwide Enbumyst Sales and Up to $180 Million"

Payments made to the owner of an asset or intellectual property each time that asset is used or a product is sold, often calculated as a percentage of sales or a set amount per unit. Royalties matter to investors because they create predictable, ongoing income streams and affect a company’s cash flow and valuation—like a landlord collecting rent or an author getting a steady cut whenever a book is sold.

royalty monetization financial

"royalty monetization of its Japanese royalties with funds managed by Athyrium"

Royalty monetization is when a company or rights holder sells the right to receive future royalty payments—money tied to sales, licenses or usage of an asset—in exchange for a single upfront cash payment. For investors, it matters because the seller gets immediate funds that can pay down debt or invest in growth, while buyers take a predictable income stream; think of it like selling a long-term subscription for a one-time payday, trading ongoing future income for present cash.

credit facilities financial

"Esperion will finance the acquisition through its existing credit facilities"

Credit facilities are arrangements with banks or lenders that let a company borrow money up to an agreed limit when it needs cash, similar to a business credit card or a home line of credit. They matter to investors because they show how a company manages short‑ and medium‑term financing needs, affect liquidity and debt levels, and can influence costs and risks if borrowing terms change or covenants are breached.

AI-generated analysis. Not financial advice.

– Enbumyst™ Is the First and Only FDA-Approved Nasal Spray Loop Diuretic for Edema Associated with Congestive Heart Failure, Expected to Leverage Esperion’s Established Cardiovascular Commercial Infrastructure, Synergistically Expand Product Portfolio and Accelerate Double-Digit Revenue Growth –

– Upfront Cash Payment of $75 Million, Royalties on Worldwide Enbumyst Sales and Up to $180 Million in Potential Milestone Payments Tied to Certain Commercial and Regulatory Achievements –

– Esperion to Host Conference Call on Tuesday, March 3, 2026 at 8:00 am ET –

ANN ARBOR, Mich. and HENDERSON, Nev., March 03, 2026 (GLOBE NEWSWIRE) -- Esperion (NASDAQ: ESPR) and Corstasis Therapeutics Inc., a privately-held, commercial-stage biopharmaceutical company advancing innovative outpatient therapies for the treatment of edema associated with cardiovascular, and hepatic and renal disease, today announced they have entered into a definitive agreement for Esperion to acquire Corstasis.

Under the terms of the agreement, Esperion will acquire Corstasis, which developed and is commercializing Enbumyst^™ (bumetanide nasal spray), the first and only nasal spray diuretic approved by the U.S. Food and Drug Administration (FDA) in September 2025 as a treatment for edema associated with congestive heart failure (CHF), and hepatic and renal disease in adults.

Enbumyst offers a differentiated, self-administered outpatient diuretic therapy that may help bridge the gap between oral and IV diuretic therapies for treating patients living with edema associated with CHF, liver disease and kidney disease.

The transaction is expected to close in the second quarter of 2026.

“This acquisition represents a compelling and strategically aligned opportunity that accelerates Esperion’s momentum and advances our long-term Vision 2040. Enbumyst brings meaningful innovation to millions of patients who continue to struggle with the daily burden of diuretic therapy. Enbumyst’s novel intranasal delivery, established regulatory approval, and expanding clinical footprint make it a natural fit for our cardiovascular franchise,” stated Sheldon Koenig, President and Chief Executive Officer of Esperion. “We expect that by integrating Enbumyst into our proven commercial platform, we will drive sustained double-digit growth, strengthen our leadership in cardiovascular care, and create durable value for all of our stakeholders - from patients and providers to employees and shareholders.”

“Enbumyst was purpose-built in partnership with the cardiology community to address a clear unmet need. Today's acquisition validates our team's vision and approach,” said Ben Esque, Chief Executive Officer of Corstasis Therapeutics. “We are excited about the future of Enbumyst in Esperion’s hands and its ability to intervene in the patient setting to treat worsening heart failure at home.”

Strategic Rationale and Commercial Plans 

There are an estimated 6.7 million American adults living with CHF and edema is one of the most common and defining clinical features of CHF, particularly as disease severity increases. Enbumyst addresses a large and growing population whose medical needs align directly with Esperion’s commercial and pipeline focus. The product allows Esperion to target a U.S. market with a potential opportunity exceeding $4 billion, and the ability to expand across hepatic and renal indications including nephrotic syndrome. 

The acquisition strengthens Esperion’s commercial portfolio, enhances potential long-term revenue growth, and is aligned with the company’s recently introduced Vision 2040, which outlines a pathway for delivering differentiated, accessible cardiovascular innovations for high need patient populations. Enbumyst complements Esperion’s established cardiovascular commercial infrastructure and builds on the company’s expanding presence in metabolic, hepatic, and renal disease, including its recently announced initiative in Primary Sclerosing Cholangitis (PSC).   

In addition, Corstasis is advancing a sub-cutaneous pipeline, including a multidose pen injector, which has the potential to unlock additional market opportunities.

“Edema and congestion remain the most burdensome and persistent symptoms for patients living with heart failure, often driving hospitalizations, impairing quality of life, and complicating day-to-day disease management. As a clinician who cares for these patients, it is challenging when they call in with worsening symptoms, as current oral diuretic options can be limited by delayed onset or absorption challenges. The availability of an FDA-approved intranasal diuretic like Enbumyst represents an important therapeutic advance. Its novel intranasal delivery route offers the potential for more flexible, rapid, and patient-friendly fluid management that can be done at home - precisely the kind of innovation we need to better support patients across the spectrum of cardiovascular and renal disease, and hopefully avoid the need for hospitalization.” noted James Udelson, MD, Chief of Cardiology, Tufts Medical Center.

Transaction Terms

Under the terms of the agreement, Esperion, through a subsidiary, will acquire all outstanding stock of Corstasis in exchange for an upfront payment of $75 million in cash. Corstasis shareholders also will be eligible to receive a total of up to an additional $180 million upon the attainment of certain regulatory and commercial milestones, as well as low double-digit royalties on sales of Enbumyst and follow-on products.

Esperion will finance the acquisition through its existing credit facilities and royalty monetization of its Japanese royalties with funds managed by Athyrium Capital Management and HealthCare Royalty.  

The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions. Jefferies LLC served as the exclusive financial advisor to Esperion and PJT Partners served as the exclusive financial advisor to Corstasis Therapeutics. Gibson, Dunn & Crutcher LLP served as legal advisors to Esperion and Arnold & Porter Kaye Scholer LLP served as legal advisor to Corstasis.

Conference Call and Webcast Information            
Esperion will host a conference call and webcast today at 8:00 a.m. ET to discuss the acquisition.

A live audio webcast can be accessed on the investor relations section of the Esperion website. The webcast replay will be available approximately two hours after completion of the call and will be archived on the Esperion's website for approximately 90 days.

About ENBUMYST™ (bumetanide nasal spray)
ENBUMYST (bumetanide nasal spray) is a loop diuretic indicated for the treatment of edema associated with congestive heart failure, and hepatic and renal disease, including nephrotic syndrome in adults.

INDICATION AND IMPORTANT SAFETY INFORMATION FOR ENBUMYST™ (BUMETANIDE NASAL SPRAY)

INDICATION
ENBUMYST is indicated for the treatment of edema associated with congestive heart failure, and hepatic and renal disease, including nephrotic syndrome in adults.

IMPORTANT SAFETY INFORMATION
ENBUMYST is contraindicated in patients with anuria, who are in hepatic coma and have a history of hypersensitivity to bumetanide.

ENBUMYST is a diuretic that may cause fluid, electrolyte, and metabolic abnormalities. Excessive fluid loss can lead to dehydration, decreased blood volume, and increased risk of blood clots. Abnormalities may include changes in blood electrolytes, nitrogen, glucose, and uric acid. The chance of getting these abnormalities is higher in people who are elderly, use higher doses or who do not get enough electrolytes by mouth.

If increasing azotemia and oliguria occur during treatment of severe progressive renal disease, discontinue bumetanide.

Although unlikely at the recommended doses, the potential for ototoxicity must be considered a risk of intravenous therapy, at high doses, repeated frequently in the face of renal excretory function impairment.

Avoid use in patients with significant nasal mucosal or structural abnormalities, such as acute episodes of rhinitis or congestion due to any cause.

Advise lactating women treated with ENBUMYST to monitor their infants for excessive urine output, dehydration, and lethargy.

Most common adverse reactions are hypovolemia, headache, muscle cramps, dizziness, hypotension, nausea and encephalopathy (in patients with pre-existing liver disease).

These are not all of the possible side effects of ENBUMYST. To report suspected adverse reactions, contact Corstasis Therapeutics at 1-877-300-5339 or FDA at 1-800-FDA-1088 or www.fda.gov/medwatch.

Please see the full Prescribing Information for ENBUMYST.

About Corstasis Therapeutics
Corstasis Therapeutics Inc. is a commercial-stage biopharmaceutical company focused on transforming the management of fluid overload in patients with heart failure, liver disease, and kidney disease, including nephrotic syndrome, in adults. Its lead product, ENBUMYST™, was approved by the FDA on September 12, 2025. Visit www.corstasis.com for more information.

About Esperion Therapeutics
Esperion Therapeutics, Inc. is a commercial-stage biopharmaceutical company dedicated to developing and delivering innovative cardiometabolic and rare/orphan disease therapies. The Company leverages deep domain expertise in ACLY biology to develop and commercialize transformative medicines for patients worldwide. Esperion currently markets two oral, once-daily, non-statin therapies for patients struggling to maintain their low-density lipoprotein cholesterol (LDL-C) levels and are at risk of cardiovascular disease.

With a broad U.S. commercial infrastructure and global approvals across more than 40 countries, Esperion is well positioned to serve as a partner-of-choice for global innovators seeking U.S. market access through acquisition, in-license, co-promotion and revenue share opportunities. In tandem, the Company is advancing its leadership in ACLY biology to build a diversified pipeline of novel product candidates, including treatments for Primary Sclerosing Cholangitis and renal diseases. For more information, visit esperion.com and follow Esperion on LinkedIn and X.

About Athyrium Capital Management
Athyrium is a specialized asset management company formed in 2008 to focus on investment opportunities in the global healthcare sector. Athyrium advises funds with over $4.6 billion in committed capital. The Athyrium team has substantial investment experience across a wide range of asset classes including public equity, private equity, fixed income, royalties, and other structured securities. Athyrium invests across all healthcare verticals including biopharma, medical devices and products, healthcare focused services, and healthcare information technology. For more information, please visit www.athyrium.com.

About HealthCare Royalty
HealthCare Royalty (“HCRx”) is a leading royalty acquisition company founded in 2006 that is majority owned by KKR & Co. Inc. (NYSE: KKR).  Over two decades, the HCRx team has developed a strong track record of investing in commercial-stage and near-commercial-stage biopharmaceutical assets, committing $7+ billion in over 110 biopharmaceutical products.  With offices in New York, Stamford, San Francisco, Boston, London and Miami, HCRx continues to advance biopharmaceutical innovation by providing innovative capital solutions to counterparties. For more information, visit https://www.hcrx.com. HEALTHCARE ROYALTY^®, HEALTHCARE ROYALTY PARTNERS^® and HCRx^® are registered trademarks of HealthCare Royalty Management, LLC.

Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements regarding marketing strategy and commercialization and business development plans, current and planned operational expenses, expected profitability, future operations, commercial products, clinical development, plans for potential future product candidates, financial condition and outlook, including expected cash runway and profitability, expectations regarding the acquisition of Corstasis and the prospects associated with Enbumyst, including the potential size of the CHF market opportunity, plans to submit a Supplemental New Drug Application, and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “suggest,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are not guarantees of future performance and involve numerous evolving risks and uncertainties that Esperion may not be able to accurately predict or assess, and that could cause Esperion’s actual results to differ materially from those projected, including, without limitation, the failure to consummate the Corstasis transaction or to achieve anticipated sales of Enbumyst, the net sales, profitability, and growth of Esperion’s commercial products, clinical activities and results, supply chain, commercial development and launch plans, business development, the outcomes and anticipated benefits of legal proceedings and settlements, and the risks detailed in Esperion’s filings with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Esperion disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by law.

Esperion Contact Information:
Investors and Media:
Tiffany Aldrich
corporateteam@esperion.com
(616) 443-8438

Corstasis Contact Information:
Sasha Damouni Ellis
sasha@damounigroup.com

FAQ

What did Esperion (ESPR) announce on March 3, 2026 about acquiring Corstasis?

Esperion announced a definitive agreement to acquire Corstasis for an upfront $75 million. According to the company, the deal adds Enbumyst, an FDA‑approved intranasal diuretic, plus up to $180 million in milestones and low double‑digit royalties.

How will Esperion (ESPR) finance the Corstasis acquisition announced March 3, 2026?

Esperion will finance the acquisition using existing credit facilities and royalty monetization. According to the company, funds come from its credit lines and monetizing Japanese royalties via Athyrium and HealthCare Royalty funds.

When is the Esperion (ESPR) acquisition of Corstasis expected to close and what are the key dates?

The transaction is expected to close in Q2 2026, subject to customary conditions. According to the company, a conference call and webcast were held March 3, 2026 to discuss the acquisition and plans.

What commercial impact does Enbumyst bring to Esperion (ESPR)?

Enbumyst expands Esperion’s cardiovascular franchise with an outpatient intranasal diuretic targeting edema. According to the company, the product targets a U.S. market opportunity exceeding $4 billion and aims to drive double‑digit revenue growth.

What are the financial terms of Esperion’s (ESPR) deal to acquire Corstasis?

Esperion will pay $75 million upfront, up to $180 million in milestones, and low double‑digit royalties on sales. According to the company, milestone payments are tied to certain regulatory and commercial achievements.