But that was just the scary start to a roller coaster ride that saw the stock shoot back up as analysts offered a thumbs up for other outcomes that have a more upbeat tone.
Leerink’s Geoffrey Porges called tazemetostat “one of the most intriguing small molecules in the malignancy field.” He added:
We continue to believe that there is a high probability of accelerated approval of tazemetostat for EZH2 mutated follicular lymphoma, and after specialists, investigators and executives come back from the meeting, we expect the drug’s profile and perceived value to rise.
RBC’s Matthew Eckler also made it clear that he was impressed by the FL data. “As of the 6/1/2017 datacut, the ORR in the EZH2 mutant FL cohort (n=13) was 92% including 1 CR and 11 PR. DOR data from these patients was still early, however 2 pts showed a response >10 months and an additional 9 remain on study,” he wrote. Eckler chimed in:
Barring significant disease progression between now and the next update (guidance is 2018), we think the case for accelerated approval in FL remains intact. Additionally, while acknowledging the lowered ORR in mutant DLBCL, we think tazemetostat still has a shot at accelerated approval given DOR results to date in this highly refractory population.
At one point the stock was up 19%, then started to descend and ended up 11%.
Stock prices are always a moving target, particularly in this fractious market as Twitter offers new ways to bloody or beautify data. Just because a biotech’s day starts badly doesn’t mean it has to end up that way. Epizyme CEO Robert Bazemore likely knows that all too well.
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