Inozyme Pharma, Inc. - INZY STOCK NEWS

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.

Inozyme Pharma (Nasdaq: INZY) has begun dosing its first patient in a Phase 1/2 clinical trial for INZ-701, targeting ABCC6 Deficiency. Meanwhile, the second cohort in the trial for ENPP1 Deficiency is fully enrolled, with topline results anticipated in the second half of 2022. Preliminary safety and biomarker data from the ABCC6 trial are expected by Q2 2022. The trials aim to assess the safety and efficacy of INZ-701, which has shown promise in earlier models by increasing plasma pyrophosphate levels and preventing soft tissue calcification, significant factors in both conditions.

Inozyme Pharma (Nasdaq: INZY) announced that its CEO Axel Bolte will participate in a fireside chat at the 21st Annual Needham Virtual Healthcare Conference on April 13, 2022, at 8:45 AM ET. The event will provide insights into the company’s development of INZ-701, a novel therapy targeting rare genetic diseases caused by ENPP1 and ABCC6 deficiencies. A replay of the chat will be available for 30 days in the Investor & News section of Inozyme’s website.

Inozyme Pharma reported positive preliminary data from its Phase 1/2 clinical trial of INZ-701 for treating ENPP1 Deficiency, with three patients in the lowest dose cohort (0.2 mg/kg) showing significant increases in plasma pyrophosphate (PPi) levels. The PPi levels rose to a mean of 1356 nM, a 5-fold increase from baseline. INZ-701 was well-tolerated without serious adverse events. The trial is progressing to the next dose level (0.6 mg/kg), and topline data is expected in the second half of 2022, addressing a critical medical need as no approved therapies currently exist for this condition.

Inozyme Pharma (Nasdaq: INZY) reported a net loss of $56.6 million, or $2.40 per share, for the year ended December 31, 2021. R&D expenses decreased to $37.7 million from $46.5 million in 2020, while G&A expenses rose to $18.9 million. The company is advancing its clinical programs for INZ-701, with patient dosing underway for ENPP1 Deficiency and initial patient enrollment expected for ABCC6 Deficiency. Preliminary safety and biomarker data are anticipated in the first half of 2022. Cash reserves stood at $111.8 million, sufficient to fund operations into Q1 2023.