Inozyme Pharma, Inc. - INZY STOCK NEWS

Inozyme Pharma reported promising preliminary data from its ongoing Phase 1/2 trials of INZ-701 for ENPP1 and ABCC6 deficiencies. The company secured a flexible debt facility of up to $70 million, with cash reserves of $151.5 million projected to fund operations into Q2 2024. Recent clinical developments include positive biomarker data from ABCC6 trials and a recommendation from an independent board to continue ENPP1 trials. Despite rising R&D expenses and a net loss of $15.3 million for Q2 2022, Inozyme remains optimistic about future growth and clinical milestones.

Inozyme Pharma (Nasdaq: INZY) announced a debt financing facility of up to $70 million with K2 HealthVentures. The initial drawdown of $5 million has been completed, with further funds contingent on milestones. The company highlights the positive preliminary data for INZ-701 in ENPP1 and ABCC6 Deficiency, strengthening its financial position and operational flexibility. Inozyme expects its current resources to sustain operations into Q2 2024 and plans to advance its clinical trials for its lead asset.

Inozyme Pharma (Nasdaq: INZY) announced positive preliminary results from its Phase 1/2 trial of INZ-701 in adult subjects with ABCC6 Deficiency, a disorder with no approved therapies. At the 0.2 mg/kg dose, all subjects exhibited significant increases in plasma pyrophosphate (PPi) levels, with mean levels rising from 851 nM to 1057 nM. INZ-701 demonstrated a favorable safety profile with no serious adverse events. Dosing for the next cohort (0.6 mg/kg) is anticipated to begin in Q3 2022, with topline data expected in Q1 2023.

Inozyme Pharma (Nasdaq: INZY) announced a partnership with Rady Children’s Institute for Genomic Medicine to develop a novel newborn screening technology called BeginNGS. This technology aims to screen newborns for approximately 1,000 genetic diseases using rapid Whole Genome Sequencing and is expected to benefit around 3.7 million newborns annually. The initiative seeks to enhance early diagnosis and treatment for conditions like ENPP1 and ABCC6 Deficiencies. The collaboration includes several leading genomic and biotech companies, aiming to set a new standard in genetic disease screening.

BOSTON, June 07, 2022 – Inozyme Pharma (Nasdaq: INZY) announced the appointment of Dr. Kurt Gunter as Chief Medical Officer. Dr. Gunter brings over 30 years of experience in regulatory affairs and clinical development, previously serving at Athenex and Kuur Therapeutics. He will lead Inozyme's clinical strategy for INZ-701, currently in Phase 1/2 trials for ENPP1 and ABCC6 Deficiencies. These are serious rare diseases with no approved therapies, making INZ-701 a vital potential treatment. His expertise is expected to enhance Inozyme's efforts to address unmet medical needs.

Inozyme Pharma (Nasdaq: INZY), a biopharmaceutical company focused on rare diseases, announced that its CEO, Axel Bolte, will present at the Jefferies Healthcare Conference on June 8, 2022, at 2:30 PM ET. The presentation will discuss the company’s advancements in developing therapies for abnormal mineralization diseases, particularly those related to ENPP1 and ABCC6 deficiencies. A replay of the presentation will be available on the Investor Relations section of Inozyme's website.

Inozyme Pharma reported positive preliminary data for its Phase 1/2 trial of INZ-701 in ENPP1 Deficiency, showing significant increases in plasma pyrophosphate levels. The company expects topline data later in 2022. Additionally, dosing in the ABCC6 Deficiency trial is progressing on schedule with preliminary data anticipated soon. As of March 31, 2022, cash reserves stood at $97.8 million, supplemented by a $68.3 million offering, extending operational runway into Q4 2023. However, R&D expenses rose to $11.8 million, contributing to a net loss of $16.9 million for the quarter.

Inozyme Pharma (Nasdaq: INZY), a clinical-stage biopharmaceutical firm, announced that CEO Axel Bolte will present at two investor conferences. The first is the Bank of America Securities 2022 Healthcare Conference on May 10, 2022, at 7:40 p.m. ET. The second is the H.C. Wainwright Global Investment Conference, with a prerecorded presentation available on-demand starting May 24, 2022, at 7 a.m. ET. Replays can be accessed from Inozyme's Investor Relations section on their website, emphasizing its commitment to developing therapeutics for rare diseases linked to mineralization.

Inozyme Pharma, Inc. (Nasdaq: INZY) has announced the pricing of an underwritten offering of approximately 16.3 million shares of its common stock at $3.69 per share, along with pre-funded warrants for an additional 3.5 million shares at $3.6899 each. The offering aims to raise gross proceeds of about $73 million before expenses. The transaction is expected to close on April 19, 2022. Jefferies LLC and Cowen and Company, LLC are the joint book-running managers for this offering. A shelf registration statement related to these securities was previously filed with the SEC.