Oryzon Genomics, S.A. (ISIN Code: ES0167733015, ORY), a clinical-stage biopharmaceutical company leveraging epigenetics to develop therapies in diseases with strong unmet medical need, today reported financial results for the third quarter of 2020 and provided an update on recent developments.
Dr Carlos Buesa, Oryzon’s Chief Executive Officer, said: “Oryzon has successfully focused on the execution of its ongoing clinical trials and preparation for upcoming studies in the third quarter. These continue to make good progress despite the continuing disruption caused by Covid-19 around the world. Funding for our ongoing and planned trials was already in place, and the financing we carried out in June has allowed for greater focus on our current clinical activities by extending our cash runway until H1 2023.”
Third Quarter and Recent Highlights
Iadademstat in oncology:
Vafidemstat in neurological and inflammatory disease
Financial Update: Third Quarter 2020 Financial Results
Research and development (R&D) expenses were $2.3 and $9.7 million, respectively, for the quarter and 9 months ended September 30, 2020, compared to $3.5 and $8.9 million, respectively, for the quarter and 9 months ended September 30, 2019. The $0.8 million increase was driven primarily by expenses associated with advancing the company’s clinical trials.
General and administrative expenses were $0.7 and $2.6 million, respectively, for the quarter and 9 months ended September 30, 2020, at same level of expenses for the quarter and 9 months ended September 2019.
Net losses were $1.2 and $3.8 million, respectively, for the quarter and 9 months ended September 30, 2020, compared to net losses of $1.0 and $3.4 million, respectively, for quarter and 9 months ended September 2019.
Negative net result of $2.7 million (-$0.06 per share) for the 9 months ended September 30, 2020, compared to a negative net result of $3.0 million for the 9 months ended September 30, 2019.
Cash, cash equivalents and marketable securities totaled $52.2 million as of September 30, 2020, compared to $42.6 million as of September 30, 2019.
Founded in 2000 in Barcelona, Spain, Oryzon (ISIN Code: ES0167733015) is a clinical stage biopharmaceutical company considered as the European champion in Epigenetics. Oryzon has one of the strongest portfolios in the field. Oryzon’s LSD1 program has rendered two compounds, vafidemstat and iadademstat, in clinical trials. In addition, Oryzon has ongoing programs for developing inhibitors against other epigenetic targets. Oryzon has a strong technological platform for biomarker identification and performs biomarker and target validation for a variety of malignant and neurological diseases. Oryzon has offices in Spain and the United States. For more information, visit
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