Inozyme Pharma(US:INZY)2024-05-07 12:32Financial Performance - Cash, cash equivalents, and short-term investments were $166.2 million as of March 31, 2024, expected to fund operations into Q4 2025[6] - Research and Development (R&D) expenses increased to $19.1 million for Q1 2024, up from $11.9 million in the prior-year period, representing a 60% increase[6] - General and Administrative (G&A) expenses decreased to $5.2 million for Q1 2024, down from $6.5 million in the prior-year period, a reduction of approximately 20%[6] - Net loss for Q1 2024 was $23.3 million, or $0.38 loss per share, compared to a net loss of $17.4 million, or $0.40 loss per share in the prior-year period[6] - Total assets as of March 31, 2024, were $176.9 million, down from $200.8 million as of December 31, 2023[17] Clinical Trials and Research - Interim data from SEAPORT-1 Phase 1 trial of INZ-701 in patients with end-stage kidney disease is expected in Q4 2024[1] - Positive topline safety and immunogenicity data reported for INZ-701 in adults with ABCC6 Deficiency, indicating clinical improvements[3] - Anticipated initiation of pivotal trial in pediatric patients with ABCC6 Deficiency in Q1 2025, subject to regulatory review and funding[3] - Positive topline data from Phase 1/2 trial of INZ-701 in adults with ENPP1 Deficiency maintained through 48 weeks[4] - Estimated incidence of calciphylaxis is approximately 3.5 per 1,000 patients with end-stage kidney disease, with around 5,000 new patients presenting annually[9]