November 15, 2013 (Shareholders Foundation) - An investigation on behalf of investors of Epizyme Inc (NASDAQ:EPZM) shares over potential securities laws violations by Epizyme and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Epizyme Inc (NASDAQ:EPZM) concerning whether a series of statements by Epizyme Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Epizyme Inc reported that its annual Total Revenue rose from $6.94 million in 2011 to $45.22 million in 2012 and that its Net Loss declined from $20.96 million in 2011 to $0.7 million in 2012.
Shares of Epizyme Inc (NASDAQ:EPZM) reached $43.60 per share in July 2013 and traded during October 2013 as high as $41.32 per share.
Then on November 14, 2013, Epizyme Inc announced initial findings from an ongoing Phase 1 study of EPZ-5676, a potent and selective inhibitor of the DOT1L histone methyltransferase (HMT) being developed for the treatment of acute leukemia with alterations in the MLL gene.
Shares of Epizyme Inc declined from $32.71 per share on November 13, 2013, to $18.42 per share on November 14, 2013.
On November 15, 2013, NASDAQ:EPZM shares closed at $19.00 per share.