Homology Medicines Inc. (FIXX) Announces $50M Proposed Public Offering of Common Stock
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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.
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