Stock Alert: Epizyme Plunges Following Q3 Results

(RTTNews) - Shares of drug maker Epizyme, Inc. (EPZM) are falling more than 18% Friday morning at $11.02 after the company reported wider loss for the third quarter.

Net loss for the quarter widened to $56.07 million, or $0.55 per share from $36.09 million or $0.40 per share loss a year ago.

Revenue for the third quarter declined to $3.57 million from $5.72 million last year.

In a separate release, Epizyme announced expanded loan facility with Pharmakon Advisors, an affiliate of Royalty Pharma, for additional $150 Million to fund its growth initiatives.

Epizyme and Pharmakon Advisors originally executed their agreement in November last year and the company had drawn $70 million.

The stock has been trading in the range of $9.90- $27.82 in the last one year.