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Jun 30, 2021
Inozyme Q2 2021 Earnings Report
Inozyme Pharma reported financial results for Q2 2021 and provided business highlights.
Key Takeaways
Inozyme Pharma reported a net loss of $12.5 million for the second quarter ended June 30, 2021. The company's cash, cash equivalents, and investments totaled $137.5 million as of June 30, 2021, which is expected to fund operations into the fourth quarter of 2022.
Received Orphan Drug Designation from the European Medicines Agency for INZ-701 for the treatment of ABCC6 Deficiency.
Clinical Trial Application in Europe accepted for Phase 1/2 trial of INZ-701 in ABCC6 Deficiency.
Investigational New Drug application in U.S. accepted for Phase 1/2 trial of INZ-701 in ABCC6 Deficiency.
Expect to enroll patients in Phase 1/2 clinical trials in ENPP1 Deficiency and ABCC6 Deficiency in Q4 2021 and report preliminary biomarker and safety data in the first half of 2022.
Forward Guidance
Inozyme Pharma expects to initiate clinical trials in ENPP1 Deficiency and ABCC6 Deficiency in the fourth quarter of 2021 and report preliminary biomarker and safety data in the first half of 2022. The company's cash, cash equivalents, and investments are expected to support continued operations into the fourth quarter of 2022.
Positive Outlook
- Start enrollment for Phase 1/2 clinical trial for ENPP1 Deficiency in Q4 2021
- Initiate prospective natural history study for ENPP1 Deficiency in Q1 2022
- Report preliminary safety and biomarker data from Phase 1/2 clinical trial for ENPP1 Deficiency in H1 2022
- Start enrollment for Phase 1/2 clinical trial for ABCC6 Deficiency in Q4 2021
- Report preliminary safety and biomarker data from Phase 1/2 clinical trial for ABCC6 Deficiency in H1 2022
Historical Earnings Impact
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Avg. Return Before/After Earnings
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