Epizyme Inc (NASDAQ:EPZM) shares are trading higher Monday after the company announced it entered into a definitive agreement to be acquired by Ipsen.
"We expect that this acquisition and Ipsen's commitment to invest in the oncology space will ensure our epigenetic pipeline continues to advance in a way we could not have done on our own to bring transformative cancer therapies to patients in need," said Grant Bogle, president and CEO of Epizyme.
The transaction was unanimously approved by both companies' boards and is expected to close by the end of the third quarter.
Epizyme is a fully integrated, commercial-stage biopharmaceutical company developing and delivering transformative therapies against novel epigenetic targets for cancer patients.
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EPZM Price Action: Epizyme has traded between $9.86 and 41 cents per share over a 52-week period.
The stock was up 59.9% at $1.53 at press time, according to data from Benzinga Pro.
Photo: Michal Jarmoluk from Pixabay.
