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Epizyme jumps after buying back rights from Eisai

March 13, 2015 1:33 AM UTC

Wall Street reversed course on Epizyme Inc. (NASDAQ:EPZM) on Thursday, driving the stock up $3.27 (15%) to $25.45 after initially selling shares on news the biotech is paying $40 million up front to Eisai Co. Ltd. (Tokyo:4523) to regain worldwide rights, excluding Japan, to Phase I/II cancer candidate EP-6438.

In early trading, the stock fell to as low as $17.59. ...