BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Homology Medicines, Inc. (“Homology” or the “Company”) (NASDAQ: FIXX) investors concerning the Company’s possible violations of federal securities laws.
In June 2019, the Company launched a dose-escalation Phase 1/2 clinical trial for HMI-102, its lead product candidate for the treatment of phenylketonuria. Homology "reported encouraging safety and efficacy data from the dose-escalation portion of the trial" and claimed that the data showed HMI-102 "produced a sustained reduction in phenylalanine (Phe)."
Then, on July 21, 2020, Mariner Research published a report, alleging that the Company’s comments "conveniently ignor[ed] the implications to efficacy and the business." Citing data from a mouse study, the Phase 1/2 trial, and a key patient's Facebook posts, the report concluded that HMI-102 "therapy is showing zero efficacy even for a high dose patient," signifying that "the HMI-102 program is dead in the water." Moreover, citing internal emails and analyst reports, Mariner Research claimed Homology had selectively discussed the patient's Facebook posts with sell side analysts covering Homology and major investors.
On this news, the Company’s stock price fell $1.71 per share, or more than 10%, over three consecutive trading sessions to close at $14.77 per share on July 24, 2020, thereby injuring investors.
If you purchased Homology securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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