Epizyme Prices 56.66 Mln Share Offering At $1.50/shr

(RTTNews) - Epizyme, Inc. (EPZM), a company focused on delivering novel epigenetic therapies, on Thursday announced the pricing of public offering of its 56.66 million shares at $1.50 per share.

The drug maker expects the gross proceeds from the offering, which is expected to close on January 31, to be around $85 million.

Epizyme has granted the underwriters a 30-day option to buy up to a further 8.5 million shares at the public offering price. The company intends to use the net proceeds of the offering to fund development and commercialization of drugs, clinical trials, working capital, and general corporate purpose.

All of the shares in the offering are to be sold by Epizyme.

Jefferies and Barclays are acting as joint book runners, whereas Wedbush PacGrow and H.C. Wainwright & Co. are serving as co-lead managers.