FIXX INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Announces that Homology Medicines, Inc. Investors with Substantial Losses Have Opportunity to Lead Case

SAN DIEGO, May 6, 2022 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers of Homology Medicines, Inc. (NASDAQ: FIXX) securities between June 10, 2019 and February 18, 2022, inclusive ("Class Period") have until May 24, 2022 to seek appointment as lead plaintiff in Pizzuto v. Homology Medicines, Inc., No. 22-cv-01968 (C.D. Cal.).   

If you wish to serve as lead plaintiff of the Homology class action, please provide your information by clicking here. 

CASE ALLEGATIONS: Homology's lead product candidate is HMI-102, a gene therapy for the treatment of phenylketonuria ("PKU") in adults that is in Phase I/II pheNIX clinical trial ("HMI-102 Trial"). 

The Homology class action alleges, among other things, that defendants failed to disclose that: (i) Homology had overstated HMI-102's efficacy and risk mitigation; and (ii) accordingly, it was unlikely that Homology would be able to commercialize HMI-102 in its present form.

On July 21, 2020, Mariner Research published a report concluding that Homology concealed data showing HMI-102's lack of efficacy and indicating that the program was unlikely to proceed to commercialization.  On this news, Homology's stock price fell by more than 10%.

Then, on February 18, 2022, Homology disclosed 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" and that Homology "expects to receive an official clinical hold letter within 30 days."  On this news, Homology's stock price fell by more than 32%.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Homology securities during the Class Period to seek appointment as lead plaintiff.  A lead plaintiff is generally the movant with the greatest financial interest in the case who is also typical and adequate of the putative class. 

ABOUT ROBBINS GELLER: Robbins Geller is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other plaintiffs' firm. 

Attorney advertising.
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.

Contact: 
Robbins Geller Rudman & Dowd LLP 
655 W. Broadway, San Diego, CA  92101 
J.C. Sanchez, 800-449-4900 
[email protected]     

SOURCE Robbins Geller Rudman & Dowd LLP