NEW YORK, March 31, 2022 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Central District of California against Homology Medicines, Inc. ("Homology" or the "Company") (NASDAQ: FIXX) and certain of its officers, on behalf of all persons and entities that purchased or otherwise acquired Homology securities between June 10, 2019 and February 18, 2022, (the "Class Period").

All investors who purchased the shares of Homology Medicines, Inc. and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses in Homology Medicines, Inc. you may, no later than May 24, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Homology Medicines, Inc..

PLEASE CLICK HERE TO JOIN THE CASE

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

• the Company had overstated HMI-102's efficacy and risk mitigation;
• accordingly, it was unlikely that the Company would be able to commercialize HMI-102 in its
  present form; and
• as a result, the Company's public statements were materially false and misleading at all relevant times.
  

On June 10, 2019, Homology announced it had commenced enrollment of the HMI-102 Trial. Throughout the class period, defendants touted the progress of the 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.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

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