EPZM - Epizyme plummets 23% after Q3 top-line down 38%

Epizyme ([[EPZM]] -23.2%) Q3 results:Revenue of $3.57M (-37.6% Y/Y) vs consensus of $5.9MNet loss: ($56.1M) (+4.1%); loss/share: ($0.55) (+5.2%); Quick Assets: $279.9M.Financial Guidance: Epizyme expects that its existing cash and equivalents will fund the company’s operations into at least 2023.FY2020 guidance: Non-GAAP adjusted cash operating expenses of $215M-235M, from the previous $235M-255M, primarily due to a reduction in travel and other expenses and a change in how the company’s manufacturing expenses are recorded with a commercial product, partially offset by an increase in commercial-related expenses to address COVID-19 related challenges.Upcoming milestones: Expansion of loan facility with Pharmakon Advisors; $150M drawn down to fund important growth initiatives and extend operating runway into at least 2023.The company is on-track to initiate efficacy portions of confirmatory trials in ES and FL and Phase 2 Castration-resistant prostate cancer trial in early 2021.Epizyme completed enrollment in the safety run-in portion of its combination study in Metastatic Castration-Resistant

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Epizyme plummets 23% after Q3 top-line down 38%