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Epizyme shares soar in trading debut

[June 01, 2013]  NEW YORK (AP) -- 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 percent, to $20.75 at midday.

[Associated Press]

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