Homology Medicines Announces Pricing of Public Offering of Common Stock
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.
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.
The securities described are being offered by Homology pursuant to a shelf registration statement on Form S-3 (Reg. No. 333-230664), including a base prospectus, which was declared effective by the
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.
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.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the completion and anticipated use of proceeds of the offering. All such forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties related to fluctuations in Homology’s stock price, changes in market conditions and satisfaction of customary closing conditions related to the public offering, as well as the other factors discussed in the “Risk Factors” section in the prospectus supplement and registration statement referenced above and in Homology’s most recently filed Annual Report on Form 10-K, as well as other risks detailed in Homology’s filings with the
|Investor Contact:||Media Contact:|
|Theresa McNeely||Cara Mayfield|
|SVP, Corporate Communications & Patient Advocacy||Senior Director, Patient Advocacy and Corporate Communications|
Source: Homology Medicines, Inc.