GSK - Smart Money Is Clamoring to Own This Cancer-Fighting Biotech
Institutional investors rushed to acquire shares of cancer drug developer Epizyme (NASDAQ: EPZM) in advance of a catalyst-rich 2020. Those who acted were not disappointed. In January, the Food and Drug Administration (FDA) granted accelerated approval for the company's targeted cancer drug, Tazverik, as a treatment for a rare form of cancer called epithelioid sarcoma.
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Epizyme's next major catalyst should come by June 18, the Prescription Drug User Fee Act (PDUFA) date given to the company by the FDA for its next approval decision. This is the FDA's deadline to approve Epizyme's Tazverik for a second form of cancer called follicular lymphoma, specifically for patients who have already received at least two treatments. The drug garnered a Priority Review, meaning the FDA will expedite a decision within six months instead of the normal 10 months.