Epizyme Inc. (NASDAQ: EPZM) stock declined by 1.82% at the last close whereas the EPZM stock price declines by 13.45% in the pre-market trading session. Epizyme is a completely integrated, advertising biopharmaceutical business dedicated to rewriting cancer and other critical illness therapy by developing new epigenetic therapies.
What’s happening in EPZM stock?
Epizyme and HUTCHMED (China) Limited have formed a partnership to develop, manufacture, and market TAZVERIK in Greater China, which includes mainland China, Hong Kong, Macau, and Taiwan. TAZVERIK is an EZH2 methyltransferase inhibitor produced by Epizyme and authorized by the US Food and Drug Administration. The drug has been approved by the Food and Drug Administration for the treatment of epithelioid sarcoma and follicular lymphoma in select individuals.
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HUTCHMED will be in charge of the design and marketing of TAZVERIK in Greater China following the terms of the deal. Epizyme will get a US$25 million upfront payment and will be entitled for up to an additional US$110 million in development and regulation milestone payments, as well as up to an additional US$175 million in sales milestone payments, spanning up to eight possible indications. Based on yearly net sales of TAZVERIK in Greater China, Epizyme is also entitled for tiered royalties ranging from the mid-teens to the low-twenties percent.
HUTCHMED also obtains a four-year right to purchase up to US$65 million in Epizyme shares at a price of US$11.50 per share. HUTCHMED will cover the upfront payment with existing financial resources, and possible milestone payments and royalties will be paid with future cash resources, including funds from TAZVERIK sales.
Furthermore,
TAZVERIK will be developed and approved by HUTCHMED in its Territory for a variety of hematological and solid malignancies, including ES, FL, and diffuse large b-cell lymphoma. HUTCHMED will also take part in Epizyme’s EZH-302 trial which is a worldwide registrational study of TAZVERIK in combination with R2 in second-line FL, and will head the research in Greater China. The parties also want to collaborate on further worldwide research. HUTCHMED will be responsible for sponsoring all TAZVERIK clinical studies in its territory, including the fraction of worldwide trials that take place there. HUTCHMED will be in charge of marketing in its assigned territory following any approvals. TAZVERIK will be researched and manufactured in the Territory by HUTCHMED.
