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Epizyme, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2022 10-Q, filed Aug 9, 2022. Its latest SEC filing is a SC 13G/A from Feb 14, 2023.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Sells TAZVERIK, a cancer medicine, and develops other targeted cancer drugs for patients and healthcare providers.

How Did They Make Money?

Patients’ prescriptions generate product sales through specialty pharmacies and distributors; Epizyme gets paid for TAZVERIK when those customers receive the product. Collaborators pay license fees, research costs, milestones and royalties under licensing and development agreements.

FY2021 revenue

Who Were Their Customers?

Epizyme sells TAZVERIK to specialty pharmacies, which dispense it directly to patients, and specialty distributors, which supply hospital and community practice pharmacies. It also works with pharmaceutical collaborators under licensing and research agreements.

Did Revenues Turn Into Profits?

No. It lost $251.1M in FY2021.

Operating income, FY2021
−636% of revenue
▲ +6% (Loss) vs FY2020 (−$225.4M, −1430%)
Net income, FY2021
−671% of revenue
▲ +8% (Loss) vs FY2020 (−$231.7M, −1470%)
Free cash flow, FY2021
−607% of revenue
▲ +10% (Loss) vs FY2020 (−$207.2M, −1315%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q2 FY2022, the three months to Jun 30, 2022
Revenue
▲ +112%
vs $13M in Q2 FY2021
Net income
▼ −44% (Loss)
vs −$64.4M in Q2 FY2021

Grew. Revenue grew 3.7x in 4 years, from $10M in FY2017 to $37.4M in FY2021, about 39% a year.

From candidate to approved product The older report described tazemetostat as a lead product candidate and planned applications for accelerated approval. The latest report says TAZVERIK had FDA approval for epithelioid sarcoma and follicular lymphoma and was being sold in the United States.

Broader pipeline focus The older report included a program aimed at sickle cell disease alongside its cancer work. The latest report describes pipeline development around cancer medicines, including a candidate being tested for blood cancers.

Who Did They Compete With?

Competes with GSK, Johnson & Johnson, Pfizer, Daiichi Sankyo, MorphoSys, Constellation Pharmaceuticals, Novartis, Celgene, Merck &, Secura Bio, Spectrum Pharmaceuticals, Otsuka Pharmaceuticals, Foghorn Therapeutics, Forma Therapeutics, CellCentric, Kite Pharma, Gilead Sciences, and Roche

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