| Today | ||||
H.C. Wainwright analyst… Story temporarily locked. | ||||
| Yesterday | ||||
Stocks in the U.S. and in… | ||||
Stocks have been sharply… | ||||
Jefferies analysts… Jefferies analysts Michael Yee and Andrew Tsai noted that of the 66 standalone small-to-mid cap companies with an approved oncology drug in the last decade, 22 of those, or 61%, were ultimately acquired. Within that context, they noted that Epizyme (EPZM), Blueprint Medicines (BPMC), Deciphera (DCPH), Matrix Service (MRTX) and Immunomedics (IMMU) are some of the oncology companies that continue to fit the M&A criteria they examined. The analysts also noted that the M&A rate is over 55% for standalone oncology SMIDs with an approved oral, small molecule, adding that it is possible Epizyme, Blueprint, Karyopharm (KPTI) and Agios Pharmaceuticals (AGIO) could be attractive M&A candidates since they have maintained sole U.S. rights. Yee and Tsai additionally noted that with 22 cancer IPOs in 2019 that the M&A "pool is being replenished." | ||||
Based on its current… Based on its current operating plans, Epizyme expects its current cash runway to extend into at least 2022. Additionally, the company expects its GAAP operating expenses for 2020 to be between $300M-$330M inclusive of the milestones due to Eisai for the FDA approval of TAVERIK for epithelioid sarcoma and for follicular lymphoma, if approved. | ||||
Reports Q4 collaboration… Reports Q4 collaboration revenue $4.3M, consensus $3.08M. |
| Over a week ago | ||||
UP AFTER EARNINGS: Nvidia… UP AFTER EARNINGS: Nvidia (NVDA), up 6%... Canopy Growth (CGC), up 24%... American Axle (AXL), up 1%... Roku (ROKU), up 8%. ALSO HIGHER: Epizyme (EPZM), up 3% after announcing that the FDA has accepted for filing the company's new drug application for the accelerated approval of Tazverik for patients with relapsed or refractory follicular lymphoma who have received at least two prior lines of systemic therapy... eBay (EBAY), up 2% after completing the sale of StubHub to viagogo for $4.05B in cash and announcing plans to buy back more stock. DOWN AFTER EARNINGS: CarGurus (CARG), down 20%... Yelp (YELP), down 9%... Arista Networks (ANET), down 8%... Yandex (YNDX), down 3%. ALSO LOWER: Pinterest (PINS), down 2% after The Information reported just before yesterday's market close that an experimental group within Facebook (FB) has released a Pinterest-like app for saving and sharing photos. | ||||
Epizyme announced that… Epizyme announced that the U.S. FDA has accepted for filing the company's New Drug Application for the accelerated approval of TAZVERIK for patients with relapsed or refractory follicular lymphoma who have received at least two prior lines of systemic therapy. The FDA granted Priority Review and has designated the company's application as a supplemental NDA with a Prescription Drug User Fee Act target action date of June 18, 2020. Priority Review is granted to investigational therapies that, if approved, may offer significant improvements in the treatment, prevention or diagnosis of a serious condition. | ||||
Trading contacts tell The… Trading contacts tell The Fly that strength in shares of Epizyme is related to a recommendation related to the company's tazemetostat drug being issued by the National Comprehensive Cancer Network, or NCCN. Information about the NCCN's treatment guidelines is only available to users with a site login. Near midday, shares of Epizyme are up 99c, or 4.6%, to $22.34. Reference Link | ||||
| Over a month ago | ||||
HIGHER: Changyou.com… HIGHER: Changyou.com (CYOU), up 8% after entering into a merger agreement with Sohu Game, an indirectly wholly-owned subsidiary of Sohu.com (SOHU). The company will be acquired by the Sohu Group in an all-cash transaction implying an equity value of the company of approximately $579M... Broadcom (AVGO), up 3% after announcing that certain of its subsidiaries have entered into two separate multi-year statement of work agreements with Apple (AAPL). Both are for the supply of a range of specified high-performance wireless components and modules to Apple for use in its products. UP AFTER EARNINGS: American Express (AXP), up 2%... Intel (INTC), up 4%... Atlassian (TEAM), up 8%. DOWN AFTER EARNINGS: Synchrony (SYF), down 5%... Synovus (SNV), down 1%... Ericsson (ERIC), down 7%... Discover (DFS), down 7%. ALSO LOWER: Epizyme (EPZM), down 4% after SVB Leerink analyst Andrew Berens downgraded shares to Market Perform from Outperform with a price target of $18, up from $16, following the approval of Tazverik in epithelioid sarcoma. In a research note to investors, Berens says he believes the approval was widely anticipated by the market following the unanimous FDA advisory committee vote and that the tangible fundamental opportunities for the drug are fully baked-in. | ||||