Inozyme Q2 2022 Earnings Report
Key Takeaways
Inozyme Pharma reported a net loss of $15.3 million, or $0.38 loss per share, for the quarter ended June 30, 2022. The company's cash, cash equivalents, and investments were $151.5 million as of June 30, 2022, which, together with the $25 million available under the first tranche of its debt facility, will enable the Company to fund its cash flow requirements into the second quarter of 2024.
Reported positive preliminary biomarker and safety data from ongoing Phase 1/2 clinical trials of INZ-701 in ENPP1 Deficiency and ABCC6 Deficiency.
Appointed Kurt Gunter, M.D. as senior vice president and chief medical officer.
Secured flexible debt facility for up to $70 million.
Cash, cash equivalents and investments as of quarter end, together with first tranche of debt facility, funds cash flow requirements into the second quarter of 2024.
Inozyme
Inozyme
Forward Guidance
Based on current plans, the Company expects that its cash, cash equivalents, and investments as of June 30, 2022, together with the $25 million available under the first tranche of its debt facility, will enable the Company to fund its cash flow requirements into the second quarter of 2024.