BEDFORD, Mass., April 08, 2019 (GLOBE NEWSWIRE) -- Homology Medicines, Inc. (Nasdaq: FIXX), a genetic medicines company, today announced that it intends to offer and sell, subject to market and other conditions, $125.0 million of its common stock in an underwritten public offering. Homology expects to grant the underwriters a 30-day option to purchase up to an additional $18.75 million of its common stock. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares in the proposed offering are to be sold by Homology.
BofA Merrill Lynch and Cowen are acting as joint book-running managers for the offering. BTIG is acting as the lead manager for the offering. H.C. Wainwright is acting as co-manager.
Homology intends to use the net proceeds from the offering, in addition to its existing cash resources, to advance its lead gene therapy candidate, HMI-102, for the treatment of phenylketonuria (PKU) in adults through a Phase 1/2 clinical trial, and advance both HMI-202, its CNS gene therapy candidate for the treatment of metachromatic leukodystrophy, and HMI-103, its gene editing candidate for the treatment of PKU in the pediatric population, through IND-enabling studies and potentially into initial clinical trials. Homology also expects to use the proceeds to 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.
About Homology Medicines, Inc.
Homology is a genetic medicines company dedicated to transforming the lives of patients suffering from rare genetic diseases with significant unmet medical needs by curing the underlying cause of the disease. Homology’s proprietary platform is designed to utilize its human hematopoietic stem cell-derived adeno-associated virus vectors (AAVHSCs) to precisely and efficiently deliver genetic medicines in vivo either through a gene therapy or nuclease-free gene editing modality across a broad range of genetic disorders.
