Epizyme Under Pressure After Pricing Public Stock Offering

(RTTNews) - After coming under pressure early in the session, shares of Epizyme (EPZM) continue to see significant weakness in afternoon trading on Wednesday. Epizyme is currently down by 3.3 percent after hitting its lowest intraday level in two months.

The early sell-off by Epizyme came after the clinical stage biopharmaceutical company announced the pricing of an underwritten public offering of 8.3 million shares of its common stock at a price of $9.00 per share.

Epizyme said it has granted the underwriter a 30-day option to purchase up to an additional 1.25 million shares of common stock at the public offering price, less the underwriting discount.