Published on 29 Jun 2022 on Zacks via Yahoo Finance

Biotech Stock Roundup: EPZM Soars on IPSEY Offer, KZR Up on Study Data & More

The biotech sector has been in the spotlight in the past week with important pipeline and regulatory updates. Deals and collaborations have also taken center stage in this space.

Recap of the Week’s Most Important Stories:

Epizyme Surges on Acquisition News:  Shares of Epizyme, Inc. EPZM surged following the news of its acquisition by European company Ipsen IPSEY. Per the terms, Ipsen will acquire all the outstanding shares of Epizyme for an estimated aggregate consideration of $247 million. Ipsen will pay cash of $1.45 per share to current Epizyme shareholders and one contingent value right (CVR) per share. A CVR of 30 cents per share will be paid by Ipsen if, by Dec 31, 2026, the aggregate sales of EPZM’s lead drug Tazverik (excluding sales in Japan and Greater China) in any four consecutive quarters cross $250 million. In addition, the shareholders will get 70 cents per share if the combination of Tazverik and R2 (rituximab and Revlimid) gets FDA approval to treat second-line follicular lymphoma by Jan 1, 2028.