Inflazyme: study of HT-0712 with Helicon delayed; net loss decreases 8% for the first quarter

By Lisa Kerner

Charlotte, N.C., Aug. 14 - Inflazyme Pharmaceuticals Ltd. said the phase 2a proof of concept study of its IPL455,903 (or HT-0712) in age associated memory impairment being conducted by Helicon Therapeutics Inc. has been delayed due to slower-than-expected patient recruitment.

Results of the study are now expected in the first quarter of 2007 rather than in third-quarter 2006, according to a company news release.

Inflazyme plans to have a phase 3-ready asthma product in late 2007.

During the first quarter, the company also began a phase 2b study of IPL512,602 in patients suffering from moderate to severe asthma, signed a research agreement with BioSeek, Inc. and identified several potential compounds for development.

Inflazyme had a net loss the quarter ended June 30 of 2.8 million, or $0.02 per share, an 8% decrease from the net loss of $3.0 million, or $0.03 per share, for the prior-year period. The company attributed the $235,000 difference to lower amortization expenses offset by increases in research and development expenses.

R&D expenses for the quarter climbed 36% to $1.6 million from $1.2 million for the quarter ended June 30, 2005.

At June 30, Inflazyme had cash and cash equivalents totaling $10.2 million compared with $12.8 million at March 31.

Inflazyme is a Vancouver, B.C., biopharmaceutical specializing in treatments for respiratory and inflammatory diseases.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.