Homology Medicines Announces Proposed Public Offering of Common Stock
BEDFORD, Mass., April 06, 2021 (GLOBE NEWSWIRE) -- Homology Medicines, Inc. (Nasdaq: FIXX), a clinical-stage genetic medicines company, today announced that the Company intends to offer and sell, subject to market and other conditions, $50.0 million of its common stock in an underwritten public offering. Homology expects to grant the underwriter a 30-day option to purchase up to an additional $7.5 million of its common stock. All of the shares in the proposed offering are to be sold by Homology.
BTIG is the sole book-running manager for the offering.
Homology intends to use the net proceeds from the offering, in addition to its existing cash resources, to: continue to advance its lead gene therapy candidate, HMI-102, for the treatment of phenylketonuria (PKU) in adults through the ongoing Phase 2 pheNIX clinical trial; advance HMI-203, its gene therapy candidate for the treatment of Hunter syndrome, and HMI-103, its first gene editing candidate, which is for the treatment of PKU in the pediatric population, through IND-enabling studies and into clinical trials; advance its other pipeline programs through preclinical development; further expand its intellectual property portfolio; potentially further expand its manufacturing capacity; and for working capital and general corporate and administrative expenses.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) and has been declared effective. The securities will be offered only by means of a prospectus supplement and accompanying prospectus forming a part of the effective registration statement. A preliminary prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the preliminary propectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained, when available, from BTIG, LLC, 65 East 55th Street, New York, NY, 10022, by email at firstname.lastname@example.org or by telephone at (212) 593-7555.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Homology Medicines, Inc.
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