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Dec 31, 2024
Inozyme Q4 2024 Earnings Report
Inozyme reported a widened net loss in Q4 2024 while prioritizing its ENPP1 Deficiency program and implementing cost-saving measures.
Key Takeaways
Inozyme's Q4 2024 results reflect its strategic prioritization of the ENPP1 Deficiency program, including a 25% workforce reduction to extend its cash runway into 2026. The company reported a net loss of $102.0 million for the year, with no revenue recorded. Cash and cash equivalents stood at $113.1 million as of December 31, 2024, providing operational stability despite increased R&D expenses. Enrollment for the pivotal ENERGY 3 trial was completed, with topline data expected in Q1 2026.
No revenue recorded for Q4 2024 as the company remains in clinical development.
Net loss increased to $102.0 million for the year, with EPS at -$1.62.
Cash, cash equivalents, and investments totaled $113.1 million as of December 31, 2024.
ENERGY 3 pivotal trial enrollment completed, with topline data expected in Q1 2026.
Inozyme
Inozyme
Forward Guidance
Inozyme expects to continue focusing on its ENPP1 Deficiency program, aiming for a Biologics License Application (BLA) submission and topline data from the pivotal trial in 2026.
Positive Outlook
- Company’s cash reserves expected to support operations into Q1 2026.
- ENERGY 3 pivotal trial for ENPP1 Deficiency fully enrolled.
- Strategic prioritization to focus on core programs and reduce costs.
- Potential for Biologics License Application (BLA) submission in 2026.
- Positive interim results from the ENERGY 1 trial in infants.
Challenges Ahead
- No revenue expected until product approval and commercialization.
- Net losses expected to continue due to high R&D expenses.
- Workforce reduction may impact operational efficiency.
- Future trials in ABCC6 Deficiency and calciphylaxis postponed.
- Regulatory approval risks remain for the ENPP1 Deficiency program.