According to the Complaint, Homology Medicines, Inc. , a genetic medicines company, focuses on transforming the lives of patients suffering from rare genetic diseases. The Company’s lead product candidate is HMI-102, which is in Phase I/II pheNIX clinical trial, a gene therapy for the treatment of phenylketonuria (PKU) in adults.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that:
- the Company had overstated HMI-102’s efficacy and risk mitigation;
- accordingly, it was unlikely that the Company would be able to commercialize HMI-102 in its present form; and
- as a result, the Company’s public statements were materially false and misleading at all relevant times.