“The decrease of $0.3 million between the comparative three months periods primarily reflects interest expense recognized on the Hercules Loan Agreement, partially offset by an increase in interest income as a result of higher cash, cash equivalent, and marketable securities balances held during the three months ended March 31, 2026 resulting from the net proceeds received from the securities purchase agreement we entered into in September 2025 and proceeds from the initial term loan funded under the Hercules Loan Agreement in February 2026.”
“The increase of $6.6 million between the comparative three month periods was primarily due to an increase of $3.6 million in personnel-related costs due to an increase in headcount and higher non-cash stock-based compensation expense, an increase of $1.9 million in clinical trial expenses based on the progression of our Phase 2 clinical trial for MZE829 in AMKD and start-up activities for our planned Phase 2 clinical trial for MZE782 in PKU, and higher costs for outside research and development services of $0.9 million to support our research programs.”
“If our operations are found to be in violation of any of these laws or any other governmental regulations that may apply to us, we may be subject to significant civil, criminal and administrative penalties, damages, fines, disgorgement, imprisonment, exclusion from government funded healthcare programs, such as Medicare and Medicaid and other federal healthcare programs, contractual damages, reputational harm, diminished profits and future earnings, additional integrity reporting and oversight obligations, and the curtailment or restructuring of our operations, any of which could adversely affect our ability to operate our business and our results of operations.”