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Epizyme, Inc. Provides Third Quarter 2013 Financial Results and Corporate Update
Date:10/22/2013

6. This is the first composition of matter patent for EPZ-5676 and, once issued, this patent will expire in 2032. Also in September 2013, the USPTO issued U.S. Patent No. 8,524,467 titled "Diagnostic and Therapeutic Targets for Leukemia," with claims directed to methods of identifying DOT1L inhibitor compounds for the treatment of leukemia. This patent expires in 2030.

Third Quarter 2013 Financial Results & Financial Guidance

  • Cash Position: Cash and cash equivalents as of September 30, 2013, were $139.6 million, compared to $98.0 million as of December 31, 2012. The cash increase was driven by net proceeds of $82.5 million from Epizyme's initial public offering in June 2013 and a $6 million milestone achieved in June 2013 from the Eisai collaboration for the initiation of the EPZ-6438 Phase 1/2 study.
  • Revenue: Collaboration revenue was $8.4 million for the third quarter of 2013 and $32.2 million for the nine months ended September 30, 2013, compared to $15.3 million and $36.3 million for the comparable periods in 2012. Collaboration revenue includes deferred revenue from payments received in previous periods as well as payments received and recognized during the respective periods.
  • R&D Expenses: Research and development expenses were $14.6 million for the third quarter of 2013 and $41.9 million for the nine months ended September 30, 2013, compared to $9.3 million and $27.4 million for the comparable periods in 2012. The increase was largely driven by the expansion of Epizyme's product platform and costs for the clinical studies of EPZ-5676 and EPZ-6438.
  • G&A Expenses: General and administrative expenses were $3.6 million for the third quarter of 2013 and $9.7 million for the nine months ended September 30, 2013, compared to $1.6 million and $5.2 million for the comparable periods in 2012. The increase was largely driven by incremental expenses to support public company operations as well as increased st
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