SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP is investigating Homology Sciences, Inc. (NASDAQ: FIXX) and its officers and directors to determine whether they breached their fiduciary duties and violated securities laws in relation to the misstatements concerning its lead drug candidate HMI-102. Homology is a genetic medicines company that focuses on transforming the lives of patients suffering from rare genetic diseases. The Company's lead product candidate is HMI-102, a gene therapy for the treatment of phenylketonuria (PKU) in adults.
If you would like more information about our investigation of Homology Medicines, Inc.'s misconduct, click here.
What is this Case About: According to a complaint filed against Homology, defendants touted the progress of the Company's HMI-102 trial and the efficacy of the therapy. However, these statements were false. Defendants failed to disclose that the Company had overstated HMI-102's efficacy and risk mitigation, and therefore, it was unlikely the Company would be able to commercialize HMI-102 in its present form.
On February 18, 2022, Homology issued a press release disclosing that “the U.S. Food and Drug Administration (FDA) has notified the company that its pheNIX gene therapy trial of HMI-102 in adults with phenylketonuria (PKU) has been placed on clinical hold due to the need to modify risk mitigation measures in the study in response to observations of elevated liver function tests” and that “[t]he Company expects to receive an official clinical hold letter within 30 days.” On this news, Homology’s stock price fell $1.26 per share, or 32.64%, to close at $2.60 per share on February 22, 2022.
Next Steps: If you acquired shares of Homology Medicines, Inc. (FIXX) between June 10, 2019 and February 18, 2022, you have legal options. Contact Robbins LLP for more information.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Contact us to learn more:
Aaron Dumas
(800) 350-6003
adumas@robbinsllp.com
Shareholder Information Form
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Homology Medicines, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.
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