Inozyme Pharma Reports Full Year 2024 Financial Results and Announces Strategic Prioritization of ENPP1 Deficiency Pivotal Program and Recent Business Highlights

Core Insights - Inozyme Pharma reported significant progress in its ENPP1 Deficiency program, completing enrollment in the pivotal ENERGY 3 trial and announcing promising interim data in early 2025 [2][5] - The company is focusing resources on advancing its lead therapy, INZ-701, towards potential approval for ENPP1 Deficiency, while postponing future trials for other indications [3][4] Financial Overview - As of December 31, 2024, Inozyme had cash, cash equivalents, and short-term investments totaling 113.1 million, which is expected to support operations into the first quarter of 2026 [14] - Research and Development (R&D) expenses increased to 83.2 million in 2024 from $54.8 million in 2023, driven by clinical development costs [14] - The net loss for the year ended December 31, 2024, was$102.0 million, or $1.62 loss per share, compared to a net loss of$71.2 million, or $1.37 loss per share, in 2023 [15] Strategic Initiatives - The company has implemented a workforce reduction of approximately 25% to extend its operational runway and maximize the advancement of INZ-701 [3][4] - Enrollment in the ENERGY 3 trial was completed with 27 pediatric patients, and topline data is expected in the first quarter of 2026 [5][8] Clinical Developments - Positive interim data from the ENERGY 1 trial and Expanded Access Program showed improvements in patients with generalized arterial calcification of infancy (GACI) treated with INZ-701 [6][8] - ENPP1 Deficiency is a serious rare disease with no approved therapies, affecting approximately 1 in 64,000 pregnancies worldwide [9][10]