An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Homology Medicines, Inc.
Investors who purchased shares of Homology Medicines, Inc. (NASDAQ: FIXX) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Homology Medicines directors breached their fiduciary duties and caused damage to the company and its shareholders.
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.
Those who purchased shares of Homology Medicines, Inc. (NASDAQ: FIXX) have certain options and should contact the Shareholders Foundation.
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