San Diego, CA -- (SBWIRE) -- 04/12/2022 -- An investor, who purchased shares of Homology Medicines, Inc. (NASDAQ: FIXX), filed a lawsuit over alleged violations of Federal Securities Laws by Homology Medicines, Inc.

Investors who purchased shares of Homology Medicines, Inc. (NASDAQ: FIXX) have certain options and for certain investors are short and strict deadlines running. Deadline: May 24, 2022. NASDAQ: FIXX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Bedford, MA based Homology Medicines, Inc., a genetic medicines company, focuses on transforming the lives of patients suffering from rare genetic diseases.

On July 21, 2020, a report was published questioning statements by Homology Medicines, Inc. and its officers about the efficacy of HMI-102, the Company's lead product candidate for treatment of phenylketonuria. The report focused on Homology's HMI-102 dose escalation pheNIX trial, concluding that the Company concealed data showing HMI-102's lack of efficacy and indicating that the program was unlikely to proceed to commercialization. Among other evidence, the report cited an email from Homology's Chief Communications Officer appearing to indicate the Company's awareness that a HMI-102 high dose patient had adverted to the adverse efficacy issue in a social media post during April 2020.

Shares of Homology Medicines, Inc. (NASDAQ: FIXX) declined from $30.34 per share in March 2019 to as low as $9.19 per share on September 4, 2020.

Then, on February 18, 2022, Homology issued a press release disclosing that "the U.S. Food and Drug Administration has notified the company that its pheNIX gene therapy trial of HMI-102 in adults with phenylketonuria 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."

Shares of Homology Medicines, Inc. (NASDAQ: FIXX) declined from $4.24 per share on February 07, 2022, to as low as $2.54 per share on February 24, 2022.

The plaintiff claims that between June 10, 2019 and February 18, 2022, the Defendants made false and/or misleading statements and/or failed to disclose that the Company had overstated HMI-102's efficacy and risk mitigation, that accordingly, it was unlikely that the Company would be able to commercialize HMI-102 in its present form, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Homology Medicines, Inc. (NASDAQ: FIXX) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.