Business
Aeglea BioTherapeutics Reports First Quarter 2020 Financial Results and Corporate Highlights
Gross Proceeds of $138 Million from April 2020 Public Offering Extends Cash Runway Through 2022 Clinical Trial Application for ACN00177 Approved by MHRA;
About this update from Spyre Therapeutics, Inc.
[{"type":"text","content":"Gross Proceeds of $138 Million from April 2020 Public Offering Extends Cash Runway Through 2022\n Clinical Trial Application for ACN00177 Approved by MHRA; Progress Toward Phase 1/2 Clinical Trial in Homocystinuria Initiation AUSTIN, Texas, May 07, 2020 (GLOBE NEWSWIRE) -- Aeglea BioTherapeutics, Inc. (NASDAQ:AGLE), a clinical-stage biotechnology company developing a new generation of human enzyme therapeutics as innovative solutions for rare and other high-burden diseases, today reported its first quarter 2020 financial results, and provided recent corporate and program highlights. “These past few months have brought unique challenges as we navigate the impact of COVID-19, and reminds us all of the critical need for healthcare innovation and new medicines. These needs are all too familiar for people with rare diseases, like Arginase 1 Deficiency, where adequate treatment options are often not available,” said Anthony Quinn, M.B Ch.B, Ph.D., president and chief executive officer of Aeglea. “With our recently completed financing, we have the resources to advance our pegzilarginase program for Arginase 1 Deficiency through regulatory submission and potential FDA approval. With the recent approval of our Clinical Trial Application for ACN00177 for the treatment of Homocystinuria, the company is positioned to bring forward its second clinical-stage human enzyme – both with the potential to be transformative solutions for rare genetic disorders.” Recent Highlights & COVID-19 Update Pegzilarginase in Arginase 1 Deficiency Aeglea is working with treating physicians to implement individual treatment plans and potentially developing a home healthcare option for patients enrolled in the Phase 3 PEACE trial.To date, most enrolled patients have continued to receive treatment. The Company is developing a plan to analyze results for patients that are missing data points. The Phase 3 PEACE trial protocol is designed in such a way that a patient may miss a few doses without being disqualified from the trial.The supply chain has not experienced any significant impact at this time and the Company currently has sufficient supply available for completion of its ongoing clinical trials.The Company expects to complete enrollment of its Phase 3 PEACE trial in the third quarter of 2020 and to provide topline data in the first quarter of 2021. ACN00177 ...