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

ock-based compensation expense and other costs to support Epizyme's growth.
  • Net (Loss) Income: Net loss was $9.7 million for the third quarter of 2013 and $19.4 million for the nine months ended September 30, 2013, compared to net income of $4.4 million and $3.8 million for the comparable periods in 2012. The 2012 net income was largely driven by the revenue recognition of a portion of the $68.0 million upfront payment received from Celgene in April 2012.
  • Shares Outstanding: Shares outstanding as of September 30, 2013 were 28.4 million, following the sale of 5.9 million shares of common stock in the Company's initial public offering and the resulting automatic conversion of the Company's redeemable convertible preferred stock into 20.6 million shares of common stock. This compares to 1.7 million shares outstanding as of September 30, 2012, which did not include the Company's redeemable convertible preferred stock. Basic weighted average shares outstanding for the nine months ended September 30, 2013 were 13.2 million. Epizyme expects basic weighted average shares outstanding to be approximately 17 million shares for the full-year 2013.
  • End of Year Guidance: Epizyme expects full-year 2013 net cash used in operating activities of approximately $60 million, full-year 2013 GAAP revenue of approximately $40 million, and to end the year with more than $115 million in cash and cash equivalents.
  • Conference Call InformationEpizyme will host a conference call and live audio webcast today at 4:30 p.m. EDT to discuss the quarter and provide a corporate update. To participate in the conference call, please dial 1-877-303-9053 (domestic) or 1-970-315-0464 (international) and refer to conference ID 85846372. The live webcast can be accessed under "Events and Presentations" in the Investor Relations section of the Company's website at www.epizyme.com.

    The archived webcast will be available on t
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    SOURCE Epizyme, Inc.
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