Type of information: Private placement
Company: Epizyme (USA - MA)
Amount: $86.25 million
Funding type: private placement
- Epizyme anticipates using the net proceeds from this offering, together with its existing cash, cash equivalents and marketable securities to fund global development and commercialization costs of tazemetostat outside of Japan, including the costs of Epizyme’s ongoing and planned clinical trials of tazemetostat, the costs of regulatory activities related to tazemetostat, including associated milestone payments, and the costs associated with the commercial launch of tazemetostat for epithelioid sarcoma, if approved; to fund research and development costs to develop other product candidates, including EZM8266 for sickle cell disease; and for working capital and other general corporate purposes.
- • On October 2, 2018, Epizyme announced the closing of its underwritten public offering of 9,583,334 shares of its common stock at a public offering price of $9.00 per share, which includes 1,250,000 shares issued upon the exercise in full by the underwriter of its option to purchase additional shares at the public offering price less the underwriting discount. The aggregate gross proceeds to Epizyme from the offering, before deducting underwriting discounts and offering expenses, are $86.25 million.
- • On October 2, 2018, Epizyme announced the pricing of an underwritten public offering of 8,333,334 shares of its common stock at a price of $9.00 per share, before underwriting discounts. In addition, Epizyme has granted the underwriter a 30-day option to purchase up to an additional 1,250,000 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 $75.0 million, excluding any potential exercise of the underwriter’s option to purchase additional shares.
- Jefferies is acting as sole book-running manager for the offering. The offering is expected to close on or about October 5, 2018, subject to customary closing conditions.
Therapeutic area: Cancer - Oncology - Rare diseases