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Shares of Epizyme soar in first day of trading after biotech company raises $77.1M in IPO

NEW YORK, N.Y. – Epizyme shares are soaring in their first day of trading after the biotech company raised $77.1 million in its initial public offering of stock.

The Cambridge, Mass.-based cancer drug developer sold 5.1 million shares for $15 each, the high end of its previously projected range of $13 to $15. The banks managing the offering could buy about 770,000 more shares, adding $11.6 million to the proceeds.

Shares are trading Friday on the Nasdaq stock exchange under the symbol “EPZM.” They’re up $5.75 or 38 per cent, to $20.75 at midday.