Oryzon Genomics is a Spanish biotech focused on epigenetics. Iadademstat is being explored for acute leukaemias, SCLC and neuroendocrine carcinomas. CNS asset Vafidemstat has completed several Phase IIa trials and a Phase IIb trial in BPD is now the lead study, but Oryzon is rapidly expanding its CNS R&D pipeline.

Oryzon Genomics has presented headline FY22 financial results, which reflect continued progress on its clinical activities for key assets iadademstat (oncology) and vafidemstat (central nervous system; CNS) across different programmes. Total operating expenses for the year were US$22.9m, up by 13.5% from US$20.2m in FY21 and slightly higher than our estimate of US$20.1m. As expected, the bulk of these costs (c 80%) related to R&D expenses (US$18.1m) as the company continues to focus on advancing its clinical pipeline. The period-end gross cash balance was US$22.7m, which at historical burn rates (€6.92m/US$7.3m in H122) should fund the company into H225, past key clinical readouts. Looking ahead, we see the start of patient enrolment in the FRIDA study for relapsed/refractory (r/r) FLT3+ acute myeloid leukaemia (AML) patients and top-line data from the PORTICO study for borderline personality (BPD) disorder in Q123 as key upcoming catalysts.