Inozyme Pharma Reports Increased R&D Expenses and Cash Position, No Sales or Net Income Data Released for Q1 2025

Reuters
14 May
<a href="https://laohu8.com/S/INZY">Inozyme Pharma</a> Reports Increased R&D Expenses and Cash Position, No Sales or Net Income Data Released for Q1 2025

Inozyme Pharma Inc., a clinical-stage biopharmaceutical company, reported its financial results for the first quarter ending March 31, 2025. The company disclosed a cash position of $84.8 million, which is expected to support operations into the first quarter of 2026. Research and development expenses rose to $20.4 million compared to $19.1 million in the same period the previous year, driven by an increase in INZ-701-related research and development costs, specifically a $2.2 million rise in CMC expenses, partially offset by a $0.9 million reduction in clinical development and consulting costs. General administrative expenses slightly increased to $5.4 million from $5.2 million year-on-year. The company also incurred restructuring charges of $1.9 million, related to focusing its resources on the ENPP1 Deficiency program, resulting in a 25% workforce reduction. In terms of business development, interim data from the ENERGY 3 trial showed promise in modifying the disease course in ENPP1 Deficiency with INZ-701, maintaining sustained phosphate levels without new safety signals. The trial is on track for topline data release in the first quarter of 2026. Notably, Petra Duda, M.D., Ph.D., was appointed as the Chief Medical Officer, further strengthening the company's leadership team.

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