Zafgen Inc (NASDAQ:ZFGN) reported strong clinical progress with its ZGN-1061 program presently in advancement for people with complex type 2 diabetes. In addition, the firm introduced plans to come back to the rare metabolic disease segment in 2018, with a second extremely optimized MetAP2 advancement candidate, ZGN-1258, targeting a preliminary indication in Prader-Willi syndrome.
Zafgen reported that it enhanced its cash position during Q4 2017 and expects to close calendar year 2017 with cash/cash equivalents and marketable securities of more than $100 million. The firm is well-capitalized to advance its clinical-stage development plans beyond 1H2019, a period that will comprise numerous data readouts and other plan objectives.
Jeffrey Hatfield, the CEO of Zafgen, expressed that they have extensive proprietary information of MetAP2 systems biology, and has considerably enhanced the translation of that biology with fresh chemistries, insights and product candidates that they consider will provide effective and safe treatment options for people impacted by a range of grave, metabolically led conditions. They enter 2018 attaining momentum across the firm, and have a clear objective in place for advancing their programs efficiently to enhance shareholder value and eventually offer potentially transformative treatments to patients most in need.
Zafgen has commenced extensive initiatives to further characterize the MetAP2 course and its effects in different systems, and to enhance the profile of its advancement candidates to exhibit this increased understanding. Each of company’s existing development candidates has been intended to preferentially distribute to certain target tissue systems pertaining directly to the indication being followed, while reducing considerably the exposure to other tissue mechanisms reached by its initial MetAP2 inhibitor.
As a result, the firm projects that the existing development candidates will have a considerable safety benefit over its initial MetAP2 inhibitor. Thomas Hughes, Ph.D., the Chief Scientific Officer and President of Zafgen, reported that they are thrilled about the robust progress they have made throughout their development portfolio, mainly in their extended, firm-wide effort to guide their return to clinical advancement for PWS.