Inozyme Q1 2024 Earnings Report
Key Takeaways
Inozyme Pharma reported a net loss of $23.3 million, or $0.38 loss per share, for the quarter ended March 31, 2024. The company's cash, cash equivalents, and short-term investments were $166.2 million as of March 31, 2024, which are expected to fund operations into the fourth quarter of 2025.
Positive topline data from Phase 1/2 clinical trial of INZ-701 in adults with ABCC6 Deficiency, showing improvements in vascular pathology, visual function, and patient reported outcomes.
Initial findings from natural history studies indicate a substantial disease burden among pediatric patients with ABCC6 Deficiency, with a high incidence of major clinical events.
Positive topline data from Phase 1/2 clinical trial of INZ-701 in adults with ENPP1 Deficiency, showing maintained favorable safety, immunogenicity, and clinical outcome data through 48 weeks.
Cash, cash equivalents, and short-term investments were $166.2 million as of March 31, 2024, expected to fund operations into the fourth quarter of 2025.
Inozyme
Inozyme
Forward Guidance
Inozyme anticipates several milestones including interim data from SEAPORT-1, interim data from ENERGY-1, and initiation of the ENERGY-2 pivotal trial in infants.
Positive Outlook
- Interim data from SEAPORT-1, a Phase 1 trial of INZ-701 in patients with end-stage kidney disease receiving hemodialysis, on track for fourth quarter of 2024.
- Interim data from ENERGY-1, a Phase 1b trial of INZ-701 in infants with ENPP1 Deficiency, on track for second half of 2024.
- Initiation of the ENERGY-2 pivotal trial in infants, Ex-U.S. – 2H 2024
- Topline data from the ENERGY-3 pivotal trial in pediatric patients – Mid-2025
- Initiation of pivotal clinical trial in pediatric patients with ABCC6 Deficiency, subject to regulatory review and sufficient funding – Q1 2025