EPZM - Here's Why Epizyme Is Tumbling Today
Shares of Epizyme (NASDAQ: EPZM) fell as much as 17.4% today after the company released fourth-quarter and full-year 2019 operating results. There wasn't much for investors to pick apart. The company is in the early stages of transitioning to commercial operations, which means it doesn't have much revenue. That also makes it difficult for Wall Street analysts to project quarterly revenue and earnings and makes misses or beats relatively meaningless.
That said, investors might be a little nervous about full-year 2020 guidance. Epizyme expects to report operating expenses in the range of $300 million to $330 million. That marks a steep increase from 2019, when the business reported operating expenses of $200 million and an operating loss of $177 million.
As of 11:36 a.m. EST, the pharma stock had settled to a 15% loss.