Redding had worked his way through from the fourth row to sixth as Espargaro battled with Tom Luthi for second and looked to have it in the bag but a late charge from the French rider saw Redding put back to seventh by 0.050s after he made an error on the brakes into the last corner.
The MarcVDS man, who move into MotoGP next season, now only has a nine-point lead with three races left to run. The race was won by Espargaro's team mate Esteve Rabat while Brits Danny Kent and Gino Rea finished in 12th and 18th respectively.
The race was run over a shortened 12-lap duration following a huge pile-up at the beginning of the race which necessitated a red flag. Alex Pons lobbed it halfway through lap one and his bike ended up in the middle of the track, causing a multiple pile-up but all riders escaped serious injury.
Redding had made his way through to fourth off the original start but in the re-run, he was forced to sit up when Alex De Angelis crashed in front of him, he was dropped back to 12th and lost the tow from the front men.