Were focused on investors losses and proving Homology lied about HMI-102 data and the therapys commercial prospects, said Reed Kathrein, the Hagens Berman partner leading the investigation.
SAN FRANCISCO, May 14, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges Homology Medicines, Inc. (NASDAQ: FIXX) investors who suffered significant losses to submit your losses now. A securities fraud class action has been filed and investors with significant losses may have the opportunity to lead the case.
|Class Period: June 10, 2019 – Feb. 18, 2022|
|Lead Plaintiff Deadline: May 24, 2022|
|Contact An Attorney Now:||FIXX@hbsslaw.com|
Homology Medicines, Inc. (NASDAQ: FIXX) Securities Fraud Class Action:
The lawsuit focuses on Homology’s statements about the development of its lead product candidate (HMI-102), a gene therapy intended to treat adult patients with phenylketonuria (“PKU”).
According to the complaint, Defendants misrepresented and concealed that (1) Homology had overstated HMI-102’s efficacy and risk mitigation, and (2) accordingly, it was unlikely that the Company would be able to commercialize HMI-102 in its present form.
The complaint alleges investors began to learn the truth on July 21, 2020, when Mariner Research published a report bringing Homology’s statements about the efficacy of HMI-102 into serious question. Mariner concluded in part that the Company concealed data showing HMI-102 is not efficacious for high dose Cohort 3 patients and the program is likely worthless and unlikely to proceed to commercialization. Mariner’s report also cited an e-mail from the Company’s Chief Communications Officer indicating the company was aware of a HMI-102 high dose patient’s having posted the adverse efficacy issue in social media during April 2020.
Then, on Feb. 18, 2022, Homology announced the FDA has notified it that its pheNIX gene therapy trial for HMI-102 has been placed on clinical hold due to the need to modify risk mitigation measures in the study because of observations of elevated liver function tests.
These events drove the price of Homology shares sharply lower.
“We’re focused on investors’ losses and proving Homology lied about HMI-102 data and the therapy’s commercial prospects,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Homology Medicines and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Homology Medicines should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new 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 Reed Kathrein at 844-916-0895 or email FIXX@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895