LOS ANGELES–(BUSINESS WIRE)–$FIXX #CLASSACTION—Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, continues its investigation on behalf of Homology Medicines, Inc. (“Homology” or the “Company”) (NASDAQ: FIXX) investors concerning the Company’s possible violations of the federal securities laws.
If you suffered a loss on your Homology investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your information at https://www.glancylaw.com/cases/homology-medicines-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at firstname.lastname@example.org to learn more about your rights.
In June 2019, Homology launched a dose-escalation Phase 1/2 clinical trial for HMI-102, its lead product candidate for the treatment of phenylketonuria. The Company “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 Homology’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 the Company and major investors.
On this news, Homology’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.
Whistleblower Notice: Persons with non-public information regarding Homology should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email email@example.com.
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