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Mar 31, 2022
Inozyme Q1 2022 Earnings Report
Inozyme reported financial results for the first quarter ended March 31, 2022.
Key Takeaways
Inozyme Pharma reported a net loss of $16.9 million, or $0.71 loss per share, for the quarter ended March 31, 2022. As of March 31, 2022, cash, cash equivalents, and investments were $97.8 million. The company expects that its existing cash, cash equivalents, and investments, together with the net proceeds of $68.3 million from its April 2022 offering, will be sufficient to fund its operations into the fourth quarter of 2023.
Reported positive preliminary biomarker and safety data from ongoing Phase 1/2 clinical trial of INZ-701 in ENPP1 Deficiency.
Preliminary biomarker and safety data from ongoing Phase 1/2 trial of INZ-701 in ABCC6 Deficiency on track for the second quarter of 2022.
Closed $73 Million Underwritten Offering Priced At-the-Market.
Cash, cash equivalents and investments as of quarter end, together with proceeds from April 2022 offering, extends runway into the fourth quarter of 2023.
Forward Guidance
Based on its current plans, the Company expects that its existing cash, cash equivalents, and investment, together with the net proceeds of $68.3 million from its April 2022 offering, will be sufficient to fund its operations into the fourth quarter of 2023.
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Avg. Return Before/After Earnings
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