Business
Frequency Therapeutics Provides Business Updates and First Quarter 2022 Financial Results
FX-322-208 Phase 2b Study in Individuals with Acquired Sensorineural Hearing Loss Remains on Track for a Readout in Q4 2022 or Q1 2023 Reports Cash and Cash
About this update from Korro Bio, Inc.
[{"type":"text","content":"\nFX-322-208 Phase 2b Study in Individuals with Acquired Sensorineural Hearing Loss Remains on Track for a Readout in Q4 2022 or Q1 2023\n\nReports Cash and Cash Equivalents of $124.8M, Providing Runway into 2024; Funds Enable Company to Meet Multiple Clinical Milestones for Programs Targeting Hearing Loss and Multiple Sclerosis\n\n LEXINGTON, Mass.--(BUSINESS WIRE)--\nFrequency Therapeutics, Inc. (Nasdaq: FREQ), a clinical-stage regenerative medicine company focused on developing therapeutics to activate a person’s innate regenerative potential to restore function, today announced business updates and financial results for the first quarter ended March 31, 2022.\n\n“Frequency continues to make important progress executing our pipeline of therapeutic programs for hearing loss and remyelination in multiple sclerosis (MS). We have taken steps to preserve capital, extending our cash runway into 2024 to ensure we have the resources to advance all of our programs through the next set of anticipated clinical milestones. These milestones include: FX-322 Phase 2b study results in hearing restoration, which are anticipated in Q4 2022 or Q1 2023; Phase 1 study results of FX-345, our second hearing restoration program that aims to distribute drug deeper into the cochlea and potentially treat additional individuals with hearing loss; and Phase 1 safety study results for our remyelination in MS program,” said David L. Lucchino, Frequency’s Chief Executive Officer.\n\n“Enrollment for the FX-322-208 study in individuals with sudden and noise-induced sensorineural hearing loss is progressing well and we are seeing strong patient interest in this trial. We remain confident that the robust study protocol is driving recruitment of individuals with the severities and etiologies where we expect FX-322 to demonstrate the most profound clinical benefits,” Lucchino added. “We are on track to submit an investigational new drug application (IND) for FX-345 in the second half of the year and continue to gain compelling pre-clinical insights as we prepare to commence our remyelination study in 2023. Overall, we are encouraged by the advances across our pipeline and in the potential for these therapeutic candidates to fundamentally transform the treatment of patients living with hearing loss and MS.”\n\nRecent Pipeline Progress and Corporate Highlights\n\nF...