HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Homology Medicines (FIXX) Investors with Losses to Contact Its Attorneys, Firm Investigating Possible Securities Fraud
October 08, 2020 at 21:44 PM EDT
SAN FRANCISCO, Oct. 8, 2020 /PRNewswire/ -- Hagens Berman urges Homology Medicines, Inc. (NASDAQ: FIXX) investors with significant losses to submit your losses now. The firm is investigating possible securities fraud and certain investors may have valuable claims.
Homology Medicines, Inc. (FIXX) Investigation:
The investigation centers on the accuracy of Homology Medicines' statements concerning the efficacy of its virus vector platform to treat phenylketonuria ("PKU") in adults. PKU is a rare inherited disorder that causes an amino acid called phenylalanine to build up in the body and lead to serious health problems. Homology Medicines and senior management have repeatedly touted management's successful track record of discovering, developing and commercializing therapeutics with a particular focus on rare diseases.
On July 21, 2020, Mariner Research published a scathing report bringing Homology Medicines' and senior managements' statements about the efficacy of the company's lead product candidate for treating PKU, HMI-102, into serious question.
Mariner focused on Homology Medicines' HMI-102 dose escalation pheNIX trial, concluding 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 included an e-mail from Homology Medicines' 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.
Following Mariner's report, the price of Homology Medicines shares fell lower the next day.
"We're focused on investors' losses and whether Homology Medicines misled investors about the HMI-102 high dose data," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you are a Homology Medicines investor 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.
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SOURCE Hagens Berman Sobol Shapiro LLP