Business
Frequency Therapeutics Provides Business Updates and Reports Fourth Quarter and Full Year 2019 Financial Results
Phase 2a Study of FX-322 for Sensorineural Hearing Loss Remains Ongoing Strong Cash Position at End of 2019 Providing Runway into 2022; Potential for
About this update from Korro Bio, Inc.
[{"type":"text","content":"\nPhase 2a Study of FX-322 for Sensorineural Hearing Loss Remains Ongoing\n\n\nStrong Cash Position at End of 2019 Providing Runway into 2022; Potential for Meaningful FX-322 Development Milestones\n\n WOBURN, Mass.--(BUSINESS WIRE)--\nFrequency Therapeutics, Inc. (Nasdaq: FREQ), a clinical-stage biotechnology company focused on harnessing the body’s innate biology to repair or reverse damage caused by a broad range of degenerative diseases, today announced business updates and financial results for the fourth quarter and year ended December 31, 2019.\n\n\n“2019 was an important year in Frequency’s growth and evolution and we believe our business remains well positioned as we work to develop the first restorative, disease-modifying treatment for the millions of patients with sensorineural hearing loss,” said Frequency Therapeutics Chief Executive Officer David Lucchino. “We are continuing our Phase 2a exploratory study of FX-322, building upon the statistically significant hearing signal we observed in our Phase 1/2 safety study, and Phase 2a study enrollment has been steady. However, the COVID-19 pandemic has had an impact and we are working closely with our principal investigators, who are based primarily at private clinics across the U.S., to advance the trial. We will provide updated timing on the reporting of top-line data from this study as we learn more. We do believe that, if necessary, we could achieve the key objectives of the study with fewer subjects than originally designed. We deeply appreciate the ongoing engagement and collaboration with the sites and their focus on ensuring patient safety while maintaining study integrity. Our top priority is the well-being of study patients, the site investigators, their staff and our employees.”\n\n\nMr. Lucchino added, “We also continue to make progress toward advancing a candidate to the clinic for remyelination in multiple sclerosis, for which we intend to file an investigational new drug application in the second half of 2021, while we further explore a wide range of potential new degenerative disease targets where we can leverage our progenitor cell activation approach.”\n\n\nRecent Program and Business Updates \n\n\n\nFX-322 Phase 2a Study for Sensorineural Hearing Loss: The FX-322 Phase 2a study is a randomized, double-blind, placebo-controlled, single- and repeat-dose ...