Policy & Regulation
Epizyme Closes Concurrent Public Offerings and Full Exercise of Underwriter's Option to Purchase Additional Shares
13 March 2019 - - US-based epigenetic therapies developer Epizyme, Inc. (NASDAQ: EPZM) has closed two concurrent underwritten public offerings of 11.5m shares of its common stock and 350,000 shares of its non-voting series A convertible preferred stock, which includes the full exercise by the underwriters of their separate options in each of the respective offerings to purchase additional shares at the public offering price, the company said.

The public offering price of each share of common stock was USD 11.50 and the public offering price of each share of series A stock was USD 115.00.

Aggregate gross proceeds to Epizyme from the offerings, before deducting underwriting discounts and offering expenses, are USD 172.50m.

Epizyme anticipates using the net proceeds from these offerings, together with its existing cash, cash equivalents and marketable securities, to fund global development and commercialization costs of tazemetostat outside of Japan, including the costs of Epizyme's ongoing and planned clinical trials of tazemetostat, the costs of regulatory activities related to tazemetostat, including associated milestone payments, and the costs associated with the commercial launch of tazemetostat for epithelioid sarcoma and follicular lymphoma, if approved; expansion of tazemetostat into additional treatment lines, combinations and indications; to fund research and development costs to identify and develop other product candidates, including EZM8266 for sickle cell disease; and for working capital and other general corporate purposes.

Jefferies, Citigroup and Cowen acted as joint book-running managers for the proposed offerings. Wedbush PacGrow acted as lead manager and H.C. Wainwright and Co. acted as co-manager.

Epizyme is a late-stage biopharmaceutical company committed to rewriting treatment for cancer and other serious diseases through novel epigenetic medicines. 

The company 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 in relapsed and front-line disease.

The company also is developing a novel G9a program with its next development candidate, EZM8266, which is targeting sickle cell disease. By focusing on the genetic drivers of disease, Epizyme's science seeks to match targeted medicines with the patients who need them.