Epizyme, Inc. (EPZM - Free Report) is a Cambridge, MA-based development-stage biopharmaceutical company focused on bringing novel epigenetic oncology therapies to the market.
Being a development-stage company, Epizyme does not have any approved product in its portfolio yet. Hence, investor focus should remain on pipeline updates.
Epizyme’s lead candidate, tazemetostat (an EZH2 inhibitor) is being evaluated in phase II studies in non-Hodgkin lymphoma (NHL) and genetically defined solid tumors. The company is also exploring tazemetostat to increase the clinical activity of immuno-oncology therapies by combining with an anti-PD 1 or PDL-1 agent.
The company’s track record has been strong, with the company beating estimates in each of the last four quarters, with an average positive earnings surprise of 8.68%.
Currently, Epizyme has a Zacks Rank # 3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Epizyme posted narrower-than-expected loss in the fourth quarter of 2017. While our consensus called for a loss of 56 cents per share, the company reported a loss of 52 cents.
Revenues: In the fourth quarter of 2017, the company did not recognize any collaboration revenues. However, the Zacks Consensus Estimate for the metric stood at $1 million for the reported period.
Pipeline Update: The company completed enrollment in expansion cohort of a phase II study evaluating its lead candidate, tazemetostat, being developed for the treatment of patients with epithelioid sarcoma (ES). Epizyme has identified a path to submission for accelerated approval for the treatment of patients with ES and expects to file the first new drug application for tazemetostat in this indication in the fourth-quarter of 2018.
Share Price Impact: The shares were up almost 2% in pre-market trading.
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