Business
AVROBIO Reports First Quarter 2022 Financial Results and Provides Business Update
Phase 1/2 collaborator-sponsored1 clinical trial in cystinosis fully enrolled New interim cystinosis clinical data to be presented at the 25th annual meeting
About this update from Tectonic Therapeutic, Inc.
[{"type":"text","content":"\nPhase 1/2 collaborator-sponsored1 clinical trial in cystinosis fully enrolled\n\nNew interim cystinosis clinical data to be presented at the 25th annual meeting of the American Society of Gene and Cell Therapy (ASGCT)\n\nMultiple regulatory interactions planned in 2022 to inform clinical development strategies for cystinosis, Gaucher disease type 3, Hunter syndrome and Pompe disease programs\n\nStrong balance sheet with cash runway into Q1 2024\n\n CAMBRIDGE, Mass.--(BUSINESS WIRE)--\nAVROBIO, Inc. (Nasdaq: AVRO), a leading clinical-stage gene therapy company with a shared purpose to free people from a lifetime of genetic disease, today reported financial results for the first quarter ended March 31, 2022 and provided a business update.\n\n“This is an important year for AVROBIO with key milestones that we believe will elevate the company profile and drive significant value for stockholders,” said Geoff MacKay, president and CEO of AVROBIO. “Earlier in the year, we made the strategic decision to reprioritize our pipeline activities and streamline our organization, which not only strengthened our cash position, but also focused our efforts to further advance our cystinosis and Gaucher disease type 3 programs into late-stage trials.\n\n“Collectively, our pipeline targets more than 40,000 patients. Within each indication there is a significant unmet medical need and a high annual cost associated with the standard of care, which we believe translates into a multi-billion-dollar market opportunity across our pipeline,” he said. “These programs either currently, or once we shift to company-sponsored clinical trials will, leverage our plato® gene therapy platform, which has been designed to enable our manufacturing, analytics and delivery to be Phase 3-ready and we believe this will allow us to bring these therapies to patients efficiently and expeditiously.\n\n“At the WORLDSymposium™ in February 2022, we highlighted new interim clinical data that we believe support clinical proof-of-concept for AVR-RD-04 in adults with cystinosis and lays the groundwork for the initiation of a company-sponsored trial planned for 2023. We plan to show additional data from the collaborator-sponsored Phase 1/2 clinical trial, which is now fully enrolled, at the upcoming ASGCT meeting. Patient enrollment continues to progress in our GUARD1 Phase 1/2 tria...