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Mar 31, 2022
Tectonic Q1 2022 Earnings Report
AVROBIO reported financial results for the first quarter of 2022 and provided a business update.
Key Takeaways
AVROBIO reported a net loss of $29.8 million for the first quarter of 2022. The company's cash and cash equivalents are expected to fund operating expenses and capital expenditure requirements into the first quarter of 2024.
Phase 1/2 collaborator-sponsored clinical trial in cystinosis is now fully enrolled.
New interim cystinosis clinical data to be presented at the 25th annual meeting of the American Society of Gene and Cell Therapy (ASGCT).
Multiple regulatory interactions planned in 2022 to inform clinical development strategies for cystinosis, Gaucher disease type 3, Hunter syndrome and Pompe disease programs
Strong balance sheet with cash runway into Q1 2024.
Tectonic
Tectonic
Forward Guidance
AVROBIO plans to engage with regulatory agencies to discuss clinical development and regulatory strategy, with the intent of initiating company-sponsored clinical trials in 2023, subject to regulatory alignment.
Positive Outlook
- AVR-RD-04 in cystinosis: Plan to engage in 2022 with regulatory agencies to discuss clinical development and regulatory strategy with the intent of initiating a company-sponsored clinical trial in 2023, subject to regulatory alignment
- AVR-RD-02 in Gaucher disease type 1: Plan to provide an interim clinical data update in 2022
- AVR-RD-06 in Gaucher disease type 3: Plan to engage with regulatory agencies on a Phase 2/3 clinical development strategy with aim to initiate a trial in 2023, subject to regulatory alignment
- AVR-RD-05 in Hunter syndrome: Collaborators at the University of Manchester plan to initiate a Phase 1/2 clinical trial in 2023, subject to regulatory alignment
- AVR-RD-03 in Pompe disease: Plan to engage with regulatory agencies on clinical development strategy and plan to initiate a clinical trial in 2023, subject to regulatory alignment