Epizyme Prices Stock Offering

(RTTNews) - Epizyme, Inc. (EPZM) said Wednesday that it has priced its underwritten public offering of about 4.5 million shares of its common stock at a price of $29.25 per share before underwriting discounts.

Epizyme is selling 3 million shares of its common stock in this offering, and certain existing stockholders are selling about 1.5 million shares of common stock in the offering.

In addition, Epizyme has granted to the underwriters a 30-day option to purchase up to 673,901 additional shares of common stock, if any, at the public offering price, less the underwriting discount.

Epizyme said it plans to use proceeds from the offering, together with its existing cash and cash equivalents, to fund its share of the global development costs of clinical development of EPZ-5676, including the costs of the expansion stage of its ongoing Phase 1 clinical trial of EPZ-5676 in MLL-r adult patients and MLL-PTD adult patients and its planned Phase 1b clinical trial of EPZ-5676 in MLL-r pediatric patients; if the company exercises its opt-in right to co-develop, co-commercialize and share profits in the United States for EPZ-6438, to fund a portion of its share of U.S. development costs for EPZ-6438, including the costs of its planned Phase 2 clinical trial of EPZ-6438 in non-Hodgkin lymphoma patients with EZH2 point mutations as part of its ongoing Phase 1/2 clinical trial of EPZ-6438 and its planned Phase 2 clinical trial of EPZ-6438 in synovial sarcoma patients; to fund research and development to build the company's product platform and advance its pipeline of preclinical product candidates; and for working capital and general corporate purposes.

The offering is expected to close on or about February 10.