Homology Medicines Announces Pricing of Public Offering of Common Stock
April 07 2021 - 8:52AM
Homology Medicines, Inc. (Nasdaq: FIXX), a clinical-stage
genetic medicines company, today announced the pricing of an
underwritten public offering for proceeds of approximately $50.0
million, before deducting estimated offering expenses payable by
Homology. Homology also granted the underwriter a 30-day option to
purchase up to an additional $7.5 million of shares of its common
stock. All of the shares in the offering are to be sold by
Homology.
BTIG is the sole book-running manager for the offering. The
offering is expected to close on or about April 9, 2021, subject to
customary closing conditions.
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.The securities described are being offered by Homology
pursuant to a shelf registration statement on Form S-3 (Reg.
No. 333-237131), including a base prospectus, which was
declared effective by the Securities and Exchange Commission (SEC).
The securities are being 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 and describing the terms of the offering was
filed with the SEC on April 6, 2021. The final prospectus 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 final
prospectus 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 prospectusdelivery@btig.com 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. Homology
Medicines, Inc. is a clinical-stage 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.
Forward-Looking StatementsThis 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 Securities and Exchange Commission. There can be no assurance
that Homology will be able to complete the public offering on the
anticipated terms. All information in this press release is as of
the date of the release, and Homology undertakes no duty to update
this information, even if subsequent events cause its views to
change, unless required by law.
Company ContactTheresa McNeelyChief
Communications Officer and Patient
Advocatetmcneely@homologymedicines.com781-301-7277
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