On January 5, 2016 Epizyme, Inc. (NASDAQ: EPZM), a clinical stage biopharmaceutical company creating novel epigenetic therapeutics for cancer patients, reported that it intends to offer and sell up to $120,000,000 of shares of its common stock in an underwritten public offering (Press release, Epizyme, JAN 5, 2016, View Source [SID:1234508671]). Epizyme intends to grant the underwriters a 30-day option to purchase up to an additional $18,000,000 of shares of its common stock. All of the shares of common stock to be sold in the offering will be offered by Epizyme.
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Epizyme intends to use the net proceeds from the offering, together with its existing cash and cash equivalents, to:
Fund the global development costs of tazemetostat, Epizyme’s novel oral EZH2 inhibitor, outside of Japan, including the costs of the following clinical trials:
the ongoing five-arm phase 2 study in patients with non-Hodgkin lymphoma;
the recently initiated phase 2 study in adult patients with INI1-negative tumors, certain SMARCA4-negative tumors or synovial sarcoma;
the recently initiated phase 1 study in pediatric patients with INI1-negative tumors, certain SMARCA4-negative tumors or synovial sarcoma;
the planned clinical trial of tazemetostat in combination with R-CHOP in front-line elderly patients with diffuse large B-cell lymphoma;
the planned clinical trial of tazemetostat in combination with a B-cell signaling agent or immuno-oncology agent in patients with B-cell non-Hodgkin lymphoma; and
the planned phase 2 study of tazemetostat in BAP1-mutated mesothelioma;
Initiate market development activities, begin building regulatory and commercial strategies to prepare for the global launch of tazemetostat, if approved, and expand the company’s clinical and regulatory capabilities;
Fund research and development to advance the company’s pipeline of preclinical product candidates and its programs that are subject to the Celgene collaboration and to expand its drug development platform; and
For working capital and other general corporate purposes.
Citigroup, Leerink Partners LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. JMP Securities and Wedbush PacGrow are acting as co-lead managers for the offering with Mizuho Securities USA Inc. acting as co-manager. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
A shelf registration statement relating to the shares of common stock offered in the public offering described above was filed with the Securities and Exchange Commission (SEC) on May 4, 2015 and declared effective by the SEC on May 29, 2015. The offering will be made only by means of the written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement related to the offering is expected to be filed with the SEC and, if and when filed, copies of the preliminary prospectus supplement relating to the offering may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained by contacting Citigroup Global Markets Inc., c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [email protected] or by phone at 800-831-9146; Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by email at [email protected], or by phone at 1-800-808-7525 ext. 6142; or RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity Syndicate; Phone: 877-822-4089; Email: [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, 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.