Homology Medicines (FIXX) Stock Price: Why It Increased Over 2% Today

By Amit Chowdhry ● Jun 13, 2022
  • The stock price of Homology Medicines Inc (NASDAQ: FIXX) increased by over 2% pre-market today. This is why.

The stock price of Homology Medicines Inc (NASDAQ: FIXX) increased by over 2% pre-market today. Investors are responding positively to Homology Medicines announcing that the U.S. Food and Drug Administration (FDA) lifted the clinical hold previously placed on the pheNIX gene therapy clinical trial with investigational HMI-102 for adults with phenylketonuria (PKU). 

The FDA pointed out in its response that Homology satisfactorily addressed all clinical hold issues identified in its letter of March 17, 2022. And Homology plans to share the changes to the protocol, which include a new steroid-sparing immunosuppression regimen that incorporates a T-cell inhibitor and a shorter course of steroids, with the clinical trial sites.

As previously disclosed, the clinical hold on the pheNIX trial pertained to elevated liver function tests observed in the trial – which were all resolved with no hospitalizations required. And Homology’s response to the FDA included changes to the protocol intended to enhance risk-mitigation measures and a new immunosuppression regimen with the T-cell inhibitor tacrolimus, which will be used in combination with a reduced duration of prophylactic steroids. 

This same approach is being used in Homology’s ongoing pheEDIT gene-editing trial for PKU and juMPStart gene therapy trial for Hunter syndrome. And similar regimens have been shown to dampen the immune response to AAVs in the clinical setting.

KEY QUOTE:

“We believe our ability to quickly and successfully respond to the FDA is a testament to our experienced clinical and regulatory teams who also applied key learnings from the gene therapy field and our clinical program to update the pheNIX trial protocol. We appreciate the FDA’s active collaboration during this process, and we remain committed to bringing forward potential one-time treatments for people with PKU. Our plan is to provide an update on the program this fall.” 

— Albert Seymour, Ph.D., President and Chief Scientific Officer of Homology Medicines

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.