EPZM - Where Will Epizyme Be in 1 Year?
Although shares of Epizyme (NASDAQ: EPZM) are trading at a fraction of the all-time high achieved shortly after the initial public offering in 2013, the company's current market valuation of $1.2 billion is close to a high-water mark. Investors can thank a surge in stock dilution (which keeps the market cap elevated) as well as signs of tangible progress (which have sent shares soaring recently).
The stock has more than doubled since the beginning of the year on the heels of growing optimism for the lead drug candidate, tazemetostat, which was placed on a clinical hold by the U.S. Food and Drug Administration (FDA) not long ago. The regulatory body has since accepted a new drug application (NDA) for the drug candidate, and could give it a stamp of approval as early as January 2020.
While that puts Epizyme on the path to commercial operations, it may not provide the financial boost the business needs to achieve sustainable operations. Here's what could be ahead for the business in the next year for investors considering buying the stock.