Zafgen, Inc. (NASDAQ:ZFGN) recently announced that its leading ZGN-1061 program which is currently in development for patients suffering from complex Type 2 diabetes is showing rapid clinical progress. The company also revealed its plans to come back to the rare metabolic disease space in 2018. For that Zafgen will have a second highly optimized MetAP2 development candidate-ZGN-1258 that will target Prader-Willi syndrome (PWS)’s initial indication.
Zafgen is a clinical-stage biopharmaceutical company that leverages its proprietary knowledge of MetAP2 systems biology for developing innovative and novel therapies for patients suffering from a range of metabolic diseases. The company also announced that its cash position increased during the fourth quarter of 2017 with more than $100 million cash, marketable securities, and cash equivalents.
The company has enough funds to support its ongoing and current clinical-stage development programs that will continue beyond the first six months of 2019. This particular period will include milestones for several other programs including multiple data readouts.
Zafgen Has Clear Vision For Program Advancement, Says Jeffery Hatfield
According to Chief Executive Officer of Zafgen, Jeffrey Hatfield, the company has deep proprietary knowledge of MetAP2 systems biology and using new chemistries, insights, as well as product candidates, have significantly improved its translation in such a way that it will provide effective as well as safe treatment options to the patients with a range of metabolically driven, serious conditions.
Hatfield further added that the company has entered 2018 gaining momentum and have a clear vision for advancing the program efficiently to increase shareholder value as well as to deliver potentially transformative therapies to the patients who need it the most. According to reports, the company has already undertaken extensive efforts for further characterizing the MetAP2 pathway as well as its effects on different systems.
Zafgen is also putting all its efforts to optimize the profile of its development candidate so as to reflect this increased understanding. The President and Chief Scientific Officer of Zafgen, Thomas Hughes stated that they are excited about the recent advancement in the program throughout the company’s development portfolio as the company is proceeding with a mixed purpose, transparency, and care.