Epizyme Inc. ( EPZM Quick Quote EPZM - Free Report) incurred a loss of 65 cents per share in fourth-quarter 2020, which was wider than the Zacks Consensus Estimate of a loss of 59 cents and the year-ago loss of 59 cents. However, shares of the company have plunged 51.9% in the past year against the industry’s growth of 9.8%.
Total revenues for the fourth quarter of 2020 were $8.4 million, which beat the Zacks Consensus Estimate of $6 million and increased from the year-ago quarter’s revenues of $4.3 million. Quarter in Detail Tazverik became commercially available to patients on Feb 1, 2020, following its accelerated approval in January for the treatment of metastatic or locally advanced Epithelioid Sarcoma (ES). Tazverik generated net product revenues in both ESand Follicular Lymphoma (FL) of $4.5 million in the fourth quarter. The company reported a month-over-month increase in new prescriptions for Tazverik throughout the fourth quarter. However, during the quarter, the COVID-19 pandemic continued to negatively impact ES and FL patient visits to physicians, new patient starts across all lines of treatmentand the ability of Epizyme’s field-based teams to fully access ES and FL prescribers. Research and development expenses decreased to $31.5 million from $35.8 million in the year-ago quarter. SG&A expenses increased to $30.5 million from $19.4 million. Epizyme had $373.6 million of cash, cash equivalents and marketable securities as of Dec 31, 2021, compared with $381.1 million as of Dec 31, 2019. The company expectsits current cash runway to extend to 2023. Full-Year 2020 Results The company incurred a loss of $2.29 per share in 2020, wider than the Zacks Consensus Estimate of a loss of $2.23 and the year-ago loss of $1.93. Revenues were $15.8 million in 2020, which beat the Zacks Consensus Estimate of $14.8 million but was down from the year-ago revenues of $23.8 million. Pipeline Update The safety run-in portions of both the ES and FL confirmatory studies with Tazverik are fully enrolled and the efficacy expansion portions of both studies remain on track for initiation in early 2021. The ES confirmatory study is evaluating Tazverik in combination with doxorubicin compared with doxorubicin plus placebo as a front-line treatment for ES. The FL confirmatory trial is evaluating Tazverik in combination with R 2, which is the combination of Bristol Myers Squibb’s ( BMY Quick Quote BMY - Free Report) Revlimid plus Roche’s ( RHHBY Quick Quote RHHBY - Free Report) Rituxan, compared with R 2 plus placebo in the second-line treatment setting in patients with FL. A Stock to Consider Epizyme currently, carries a Zacks Rank #3 (Hold) stock. A better-ranked stock in the healthcare sector includes Atea Pharmaceuticals Inc. ( AVIR Quick Quote AVIR - Free Report) carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . Atea’s earnings per share estimates have increased from $3.53 to $3.70 for 2021 over the past 60 days. Shares of the company have increased 151.2% in the past year.
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