ARTICLE | Financial News

Epizyme sets share number for follow-on

February 4, 2014 1:02 AM UTC

Cancer company Epizyme Inc. (NASDAQ:EPZM) said it now plans to sell 3 million shares in a follow-on underwritten by Citigroup; Cowen; Leerink; JMP Securities; Wedbush PacGrow; and BTIG. If sold at Epizyme's close of $30.40 on Friday, before the company set the share figure for the offering, Epizyme would raise $91.2 million. The company first proposed to raise up to $140 million in the offering on Jan. 24, when its share price was $34.94. Epizyme said shareholders also plan to sell 1.2 million shares in a concurrent secondary offering.

Epizyme's EPZ-5676 is in Phase I testing for advanced hematologic malignancies, including acute leukemia with rearrangements of the myeloid-lymphoid or mixed-lineage leukemia (MLL; HRX) gene. On Jan. 7, Epizyme jumped $15.49 (76%) to $35.99 after receiving a $25 million proof-of-concept milestone from partner Celgene Corp. (NASDAQ:CELG) for the histone methyltransferase DOT1L (DOT1L) inhibitor (see BioCentury, Jan. 13). ...