Epizyme (EPZM) Tops Q4 EPS by 5c

Note: EPS may not be comparable

Epizyme (NASDAQ: EPZM) reported Q4 EPS of ($0.52), $0.05 better than the analyst estimate of ($0.57).

Fourth Quarter and Full Year 2017 Financial Results

• Cash Position: Cash, cash equivalents and marketable securities were $276.4 million as of December 31, 2017, as compared to $242.2 million as of December 31, 2016. The increase is primarily the result of the company’s public offering of common stock that closed in September 2017, offset by operating expenditures for the year.
• Revenue: There was no collaboration revenue for the fourth quarter of 2017 and $10.0 million for the full year ended December 31, 2017, compared to $0.5 million for the fourth quarter of 2016 and $8.0 million for the full year ended December 31, 2016. The increase in annual collaboration revenue is primarily due to greater milestone contribution from the company’s agreement with GSK in 2017.
• R&D Expenses: Research and development (R&D) expenses were $28.9 million for the fourth quarter of 2017 and $109.7 million for the full year ended December 31, 2017, compared to $28.4 million for the fourth quarter of 2016 and $91.5 million for the full year ended December 31, 2016. The increase is primarily due to higher costs for tazemetostat manufacturing and clinical trial activities in 2017.
• G&A Expenses: General and administrative (G&A) expenses were $8.4 million for the fourth quarter of 2017 and $37.2 million for the full year ended December 31, 2017, compared to $7.6 million for the fourth quarter of 2016 and $28.4 million for the full year ended December 31, 2016. The increase is primarily due to increased consulting services and preparations for tazemetostat commercialization.
• Net Loss: Net loss was $36.2 million, or $0.52 per share, for the fourth quarter of 2017 and $134.3 million, or $2.18 per share, for the full year ended December 31, 2017, compared to $35.0 million, or $0.60 per share, for the fourth quarter of 2016 and $110.2 million, or $1.93 per share, for the full year ended December 31, 2016.

For earnings history and earnings-related data on Epizyme (EPZM) click here.

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