Epizyme (EPZM) reported positive study results

Epizyme Inc. (EPZM) reported positive study results from a Phase 1 study of Tazemetostat, a treatment for lymphatic cancer. The drug demonstrated “meaningful activity” with 9 of the 15 patients achieving an objective response. EPZM last traded up $6.01 to a seven-month high of $26.76 on heavy volume of 1.7M shares (average daily volume is 347K). Calls were outnumbering puts 4:1 with the July 17th 25.00 call being the most actively traded contract (volume is 92 versus open interest of 110).