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 8.44%.
Currently, Epizyme has a Zacks Rank # 2 (Buy), 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 second quarter of 2018. While our consensus called for a loss of 53 cents per share, the company reported a loss of 42 cents.
Revenues: In the second quarter of 2018, collaboration revenues were $12 million which surpassed the Zacks Consensus Estimate of $2 million.
Pipeline Update: The company reported positive interim data from the follicular lymphoma (FL) cohorts in Epizyme’s ongoing phase II study of tazemetostat in non-Hodgkin lymphoma. The data as of May 1, 2018 showed that tazemetostat continued to demonstrate meaningful clinical activity as a monotherapy and was generally well tolerated in adult patients with relapsed and/or refractory FL.
After resolving the partial clinical hold, Epizyme plans to re-engage with the FDA to refine the company’s registration plans for tazemetostat in relapsed and/or refractory FL.
Share Price Impact: The shares were inactive in pre-market trading.
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