) were up 8.3% after the company announced the achievement of the
third of three histone methyltransferase (HMT) targets, which
were included in the company's collaboration agreement with
). The achievement led to Epizyme earning a milestone payment of
We note that Epizyme entered into an agreement with Glaxo in
Jan 2011 to discover, develop and commercialize novel small
molecule HMT inhibitors. As per the deal, Glaxo has the option to
obtain global exclusive rights to HMT inhibitors directed to
three targets. As per the terms of the deal, Epizyme is
responsible for research of the selected targets in the
collaboration until the selection of the development candidate.
For the subsequent development and commercialization, Glaxo is
Epizyme earned a milestone payment of $4 million from Glaxo in
Jan 2014 for achieving the first Glaxo collaboration target.
Thereafter, in Feb 2014, Epizyme earned a $2 million milestone
payment from Glaxo for achieving lead candidate selection with
respect to the second of these HMT targets.
Epizyme has thereby achieved all the lead candidate selection
milestone payments from Glaxo. All the three potential
therapeutic candidates are now identified for the Glaxo
Epizyme carries a Zacks Rank #4 (Sell) while Glaxo carries a
Zacks Rank #3 (Hold). Investors looking for better-ranked stocks
in the biopharma sector may consider companies like
Sucampo Pharmaceuticals, Inc.
). Sucampo carries a Zacks Rank #1 (Strong Buy) while Amgen holds
a Zacks Rank #2 (Buy).
AMGEN INC (AMGN): Free Stock Analysis Report
EPIZYME INC (EPZM): Free Stock Analysis
GLAXOSMITHKLINE (GSK): Free Stock Analysis
SUCAMPO PHARMAC (SCMP): Free Stock Analysis
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