EPZM - Why Epizyme Is Getting Crushed Today
On Monday, Epizyme (NASDAQ: EPZM) shares were hit with the one-two punch of an earnings miss and a major change in leadership. In late afternoon trading, the stock of the cancer drug specialist was down by nearly 10%.
Epizyme released its second-quarter results on Monday morning, showing that it earned $13 million in revenue for the period. Nearly $8 million of that amount came from sales of its only commercialized drug, Tazverik. The remainder was derived from collaboration and other revenue. That total compared very favorably to the Q2 2020 tally of $2.2 million and is also well above the roughly $6.4 million average analyst estimate.
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Why Epizyme Is Getting Crushed Today