CAMBRIDGE, Mass., Sept. 14, 2017 (GLOBE NEWSWIRE) — Epizyme, Inc. (NASDAQ:EPZM), a clinical-stage biopharmaceutical company creating novel epigenetic therapies, today announced the pricing of an underwritten public offering of 9,180,000 shares of its common stock at a price of $15.25 per share, before underwriting discounts. In addition, Epizyme has granted the underwriters a 30-day option to purchase up to an additional 1,377,000 shares of common stock at the public offering price, less the underwriting discount. All of the shares in the offering are to be sold by Epizyme.
Epizyme anticipates the total gross proceeds from the offering (before deducting underwriting discounts and offering expenses) will be approximately $140 million, excluding any exercise of the underwriters’ option to purchase additional shares.
Epizyme anticipates using the net proceeds from this offering, together with its existing cash, cash equivalents and marketable securities to fund global development costs of tazemetostat outside of Japan, including the costs of its ongoing and planned clinical trials of and regulatory activities related to tazemetostat; to initiate supply chain and market development activities and prepare for the commercial launch of tazemetostat, if approved; to fund research and development costs to identify and develop other product candidates; and for working capital and other general corporate purposes.
Morgan Stanley, Jefferies and Leerink Partners are acting as joint book-running managers for the proposed offering. The offering is expected to close on or about September 18, 2017, subject to customary closing conditions.
The shares are being offered by Epizyme pursuant to a shelf registration statement that was previously filed with the Securities and Exchange Commission (“SEC”) on April 15, 2016 and declared effective by the SEC on April 29, 2016. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. A final prospectus supplement relating to the offering will be filed with the SEC. When available, copies of the final prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained by contacting one of the following: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; or Leerink Partners LLC at Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525 extension 6132 or by email at email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Epizyme, Inc.
Epizyme, Inc. is a clinical-stage biopharmaceutical company committed to rewriting cancer treatment through novel epigenetic medicines. Epizyme is broadly developing its lead product candidate, tazemetostat, a first-in-class EZH2 inhibitor, with studies underway in both solid tumors and hematological malignancies, as a monotherapy and combination therapy and in relapsed and front-line disease. Using the Company’s proprietary platform, Epizyme has pioneered the identification and development of small molecule inhibitors of chromatin modifying proteins (CMPs), such as tazemetostat. CMPs are part of the system of gene regulation, referred to as epigenetics, that controls gene expression. Genetic alterations can result in changes to the activity of CMPs, which can allow cancer cells to grow and proliferate. By focusing on the genetic drivers of cancers, Epizyme’s science seeks to match targeted medicines with the specific patients that need it.
Cautionary Note on Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for Epizyme, Inc., including statements about the Company’s public offering, anticipated use of proceeds, future operations, clinical development of the Company’s therapeutic candidates, expectations regarding future clinical trials and future expectations and plans and prospects for the Company and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, uncertainties inherent in the initiation of future clinical trials, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC on September 13, 2017, the Company’s most recent Form 10-Q filed with the SEC and in other filings the Company makes from time to time with the SEC. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date hereof and should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law.
Monique Allaire, THRUST IR