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inozyme pharma Inozyme Pharma Reports Third Quarter 2021 Financial Results and Provides Business Highlights November 9 , 2021 - On track to enroll patients in Phase 1/2 clinical trials in ENPP1 Deficiency and ABCC6 Deficiency in Q4 2021 and report preliminary biomarker and safety data in the first half of 2022 - - Cash , cash equivalents , and investments expected to support continued operations into the first quarter of 2023- BOSTON , Nov. 09 , 2021 ( GLOBE NEWSWIRE ) -- Inozyme Pharma , Inc. ( Nasdaq : INZY ) , a clinical - stage rare disease biopharmaceutical company developing novel therapeutics for the treatment of abnormal mineralization , today reported financial results for the third quarter ended September 30 , 2021 , and provided recent business highlights . " The third quarter was marked by continued progress advancing our INZ - 701 program for ENPP1 Deficiency and ABCC6 Deficiency , " said Axel Bolte , MSc , MBA , Inozyme's co - founder , president , and chief executive officer . " We remain on track to enroll patients in both Phase 1/2 trials imminently , with preliminary biomarker and safety data expected in the first half of 2022. We are steadfast in our mission to bring an effective therapeutic option to patients with ENPP1 Deficiency and ABCC6 Deficiency and look forward to sharing our progress in the coming months . " Recent Updates • On Track to Commence Phase 1/2 Trials in ENPP1 Deficiency and in ABCC6 Deficiency in Q4 2021 : The Company remains on track to enroll patients in its Phase 1/2 clinical trials of INZ - 701 , its enzyme replacement therapy ( ERT ) in development for the treatment of mineralization disorders in Q4 2021 , with preliminary biomarker and safety data expected from both trials in the first half of 2022 . • Presented Data on ENPP1 Program at the American Society for Bone and Mineral Research ( ASBMR ) 2021 Annual Meeting : The Company presented data from its ENPP1 Deficiency Natural History Study and gene therapy program supporting the urgent need for novel interventions for ENPP1 Deficiency . Upcoming Anticipated Milestones The Company also announced the following anticipated milestones for the INZ - 701 clinical development program , subject to COVID - 19 - related restrictions : • ENPP1 Deficiency • Q4 2021 : Start enrollment for Phase 1/2 clinical trial • Q1 2022 : Initiate prospective natural history study • H1 2022 : Report preliminary safety and biomarker data from Phase 1/2 clinical trial • ABCC6 Deficiency • Q4 2021 : Start enrollment for Phase 1/2 clinical trial • H1 2022 : Report preliminary safety and biomarker data from Phase 1/2 clinical trial Third Quarter 2021 Financial Results • Cash Position and Financial Guidance Cash , cash equivalents , and investments were $ 125.3 million as of September 30 , 2021. Based on its current plans and considering the impact of COVID - 19 - related clinical trial delays , the Company expects that its existing cash , cash equivalents , and investments will be sufficient to enable funding of its operating expenses and capital expenditure requirements into the first quarter of 2023 . • Research and Development ( R & D ) Expenses - R & D expenses were $ 9.3 million for the quarter ended September 30 , 2021 , compared to $ 25.2 million for the prior - year period . This decrease was primarily due to the non - recurring , non - cash purchase of in - process research and development intellectual property assets from Alexion Pharmaceuticals , Inc. in exchange for our stock in July 2020 , as well as decreases in manufacturing operations based on the timing of production runs . These decreases were partially offset by increases in clinical trials costs to support the preparation for clinical trials and increased salaries and other employee - related costs to support the growth of the business . • General and Administrative ( G & A ) Expenses - G & A expenses were $ 4.9 million for the quarter ended September 30 , 2021 , compared to $ 3.1 million for the prior - year period . The increase was primarily due to the growth in the number of G & A employees , an increase in legal fees related to new contracts and operations as a public company , and generally higher fees in areas such as audit , tax , and information technology to support the Company's growth .