Epizyme Announces Closing of Public Offering of Common Stock
September 19 2017 - 6:30AM
Epizyme, Inc. (NASDAQ:EPZM), a clinical-stage biopharmaceutical
company creating novel epigenetic therapies, today announced the
closing of its public offering of 10,557,000 shares of its common
stock at a price of $15.25 per share, before underwriting
discounts. The shares of common stock issued and sold in the
offering at the closing include 1,377,000 shares issued upon the
exercise in full by the underwriters of their option to purchase
additional shares at the public offering price less the
underwriting discount.
The aggregate net proceeds before expenses to Epizyme from the
offering are approximately $151.3 million, after deducting
underwriting discounts and commissions.
Epizyme anticipates using the net proceeds from this offering,
together with its existing cash, cash equivalents and marketable
securities to fund global development costs of tazemetostat outside
of Japan, including the costs of its ongoing and planned clinical
trials of and regulatory activities related to tazemetostat; to
initiate supply chain and market development activities and prepare
for the commercial launch of tazemetostat, if approved; to fund
research and development costs to identify and develop other
product candidates; and for working capital and other general
corporate purposes. Based on its current operating plan, Epizyme
expects that the net proceeds from the offering, together with its
existing cash, cash equivalents and marketable securities, will
enable it to fund its operating expenses and capital expenditure
requirements at least into the third quarter of 2019.
Morgan Stanley, Jefferies and Leerink Partners acted as joint
book-running managers for the proposed offering.
A shelf registration statement relating to the shares of common
stock offered in the public offering was filed with the Securities
and Exchange Commission (SEC) on April 15, 2016, and declared
effective by the SEC on April 29, 2016. The offering was made only
by means of a written prospectus and prospectus supplement that
form a part of the registration statement. A prospectus supplement
related to the offering has been filed with the SEC and may be
obtained for free by visiting EDGAR on the SEC website at
www.sec.gov. Copies of the final prospectus supplement and the
accompanying prospectus relating to the securities being offered
may also be obtained by contacting one of the following: Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, New York 10014; Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877)
821-7388, or by email at Prospectus_Department@Jefferies.com; or
Leerink Partners LLC at Attention: Syndicate Department, One
Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800)
808-7525 extension 6132 or by email at syndicate@leerink.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
the securities being offered in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such state or other jurisdiction.
About Epizyme, Inc. Epizyme, Inc. is a
clinical-stage biopharmaceutical company committed to rewriting
cancer treatment through novel epigenetic medicines. Epizyme is
broadly developing its lead product candidate, tazemetostat, a
first-in-class EZH2 inhibitor, with studies underway in both solid
tumors and hematological malignancies, as a monotherapy and
combination therapy and in relapsed and front-line disease. Using
the Company's proprietary platform, Epizyme has pioneered the
identification and development of small molecule inhibitors of
chromatin modifying proteins (CMPs), such as tazemetostat. CMPs are
part of the system of gene regulation, referred to as epigenetics,
that controls gene expression. Genetic alterations can result in
changes to the activity of CMPs, which can allow cancer cells to
grow and proliferate. By focusing on the genetic drivers of
cancers, Epizyme's science seeks to match targeted medicines with
the specific patients that need it.
Cautionary Note on Forward-Looking Statements
Any statements in this press release about future expectations,
plans and prospects for Epizyme, Inc., including statements about
the Company's anticipated use of proceeds from the offering, future
operations, clinical development of the Company's therapeutic
candidates, expectations regarding future clinical trials and
future expectations and plans and prospects for the Company and
other statements containing the words "anticipate," "believe,"
"estimate," "expect," "intend," "may," "plan," "predict,"
"project," "target," "potential," "will," "would," "could,"
"should," "continue," and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including: uncertainties
related to market conditions, uncertainties inherent in the
initiation of future clinical trials, and other factors discussed
in the "Risk Factors" section of the preliminary prospectus filed
with the SEC on September 13, 2017, the Company's most recent Form
10-Q filed with the SEC and in other filings the Company makes from
time to time with the SEC. In addition, the forward-looking
statements included in this press release represent the Company's
views as of the date hereof and should not be relied upon as
representing the Company's views as of any date subsequent to the
date hereof. The Company anticipates that subsequent events and
developments will cause the Company's views to change. However,
while the Company may elect to update these forward-looking
statements at some point in the future, the Company specifically
disclaims any obligation to do so, except as required by law.
Contact:Monique Allaire, THRUST
IRmonique@thrustir.com(617) 895-9511
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