LONDON, UK / ACCESSWIRE / January 08, 2018 / Active-Investors.com has just released a free research report on Zafgen Inc. (NASDAQ: ZFGN). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ZFGN as the Company's latest news hit the wire. On January 05, 2018, the biopharmaceutical Company that uses its expertise in MetAP2 systems biology to develop novel therapies for patients affected by a range of complex metabolic diseases, reported clinical progress for its lead product ZGN-1061 program. Moreover, the Company also announced its plans of returning to the rare metabolic disease space in 2018. It intends to develop its highly optimized MetAP2 development candidate, ZGN-1258, which is designed to treat patients suffering from Prader-Willi syndrome (PWS). Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Zafgen most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
New Development Candidates to be Better than the First MetAP2 Inhibitor
Zafgen has taken several efforts to develop its MetAP2 pathway to enhance the profile of its new development candidates to show an increased understanding. Each of its current development candidates has been designed to specially distribute to specific target tissue systems, directly relating to the indication being pursued. Besides, these also aim to considerably reduce the exposure to other tissue systems reached by its first MetAP2 inhibitor. Given these improvements, the Company believes that the current development candidates will have a significant safety advantage over its first MetAP2 inhibitor.
Over the years, Zafgen has developed deep proprietary knowledge of MetAP2 systems biology. Alongside, it has improved the translation of this biology with new insights, chemistries and product candidates, which will provide safer and more effective treatment options for patients affected by a range of serious, metabolically driven conditions. The Company aims to advance these programs further in 2018 to drive shareholder value and eventually deliver potentially transformative therapies to patients in need.
Update About Zafgen's Key Programs
ZGN-1061 for Type-2 Diabetes
- ZGN-1061 is Zafgen's investigational MetAP2 inhibitor, which has been specifically developed for the treatment of Type-2 diabetes.
- The Company shared that it has completed enrollment for ZGN-1061 Phase-2 clinical trial of ZGN-1061. In fact, it received participation of 137 patients compared to the initial plan of 120 patients, i.e. 14% higher than planned. Zafgen noted accelerated participation interest in the final weeks of the enrollment period. The Phase-2 trial is designed to assess the safety, tolerability, and glucose-lowering efficacy of ZGN-1061 in diabetes patients who are also obese. The top-line data from the Phase-2 Trial is expected by the mid of 2018.
ZGN-1258 for Prader-Willi Syndrome and Additional Rare Disorders
- Prader-Willi syndrome is a genetic disorder that causes obesity, intellectual disability, and shortness in height. It is basically a rare form of life-threatening obesity, which is characterized by relentless pathologic hunger (i.e. hyperphagia) leading to dangerous food-seeking behavior.
- Zafgen has chosen ZGN-1258 as its development candidate for treating rare or orphan metabolic diseases, such as PWS, after extensive optimization and preclinical safety and efficacy profiling. ZGN-1258 is designed to alter the way the body metabolizes fat, reduces fat mass, and decreases hyperphagia in PWS.
- In fact, ZGN-1258 shows an improved ability to act on hunger control centers, over and above peripheral adipose tissue, which differentiates it from ZGN-1061. As per preclinical studies, the efficacy profile of ZGN-1258 closely aligns with the data from Zafgen's first MetAP2 inhibitor. However, the new compound has no activity in endothelial cells in vitro, which is very important in reducing the risk of thrombosis and thrombotic events in this patient population.
- The Company proclaimed that it would initiate investigational new drug (IND) application-enabling work in preparation for filing an IND with the US Food and Drug Administration (FDA) in the first quarter of 2018. It also intends to commence its Phase-1 clinical development by the end of the year.
- Moreover, Zafgen also intends to develop a global PWS natural history study mid-year as part of its commitment to the PWS community. This study would elaborate on Zafgen's development program and offer first-ever insights into the medical and clinical history of people with PWS.
Sufficient Cash Resources
Zafgen also highlighted an improvement in its cash position during Q4 2017. The Company revealed that it would end calendar year 2017 with approximately $100 million in cash, cash equivalents, and marketable securities. Therefore, Zafgen seems to be well capitalized to fund its clinical-stage development programs beyond the first half of 2019. The Company expects to achieve multiple data readouts and other program milestones in that period.
New Debt Financing Agreement
Zafgen entered into a venture debt financing agreement with Silicon Valley Bank worth $20 million on December 29, 2017. This added non-dilutive capital to its balance sheet, delaying its expected cash runway beyond the first half of 2019.
Stock Performance Snapshot
January 05, 2018 - At Friday's closing bell, Zafgen's stock rose 8.19%, ending the trading session at $5.55.
Volume traded for the day: 538.02 thousand shares, which was above the 3-month average volume of 109.04 thousand shares.
Stock performance in the last month – up 44.16%; previous three-month period – up 65.67%; past twelve-month period – up 65.67%; and year-to-date - up 20.13%
After last Friday's close, Zafgen's market cap was at $156.90 million.
The stock is part of the Healthcare sector, categorized under the Biotechnology industry. This sector was up 0.9% at the end of the session.
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