HomeFinancial MarketsWhy Did The Homology Medicines (FIXX) Stock Nose Dive In Friday Extended...

Why Did The Homology Medicines (FIXX) Stock Nose Dive In Friday Extended Trades?

Homology Medicines Inc. (FIXX) shares were falling -37.31% to trade at $2.42 in after-hours at last check. Homology Medicines (FIXX) stock lost -0.26% to close Friday’s session at $3.86. The stock volume remained 0.32 million shares, which was lower than the average daily volume of 0.48 million shares within the past 50 days. FIXX shares have fallen by -67.81% over the last 12 months, and they have moved up by 2.66% in the past week.

Over the past three months, Homology Medicines Inc. (FIXX) stock has lost -26.62%, while over the past six months, it has shed -35.77%. Further, the company has a current market of $221.22 million and its outstanding shares stood at 57.11 million. FIXX stock lost grounds in Friday extended hours after authorities put the review of the company’s clinical medicine on hold.

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What FIXX medication has been required to be postponed?

Homology Medicines is a clinical-stage hereditary meds organization devoted to changing the existences of patients experiencing interesting illnesses by tending to the basic reason for the sickness. FIXX has a supervisory crew with a fruitful history of finding, creating, and commercializing therapeutics with an emphasis on interesting sicknesses.

FIXX’s exclusive stage is intended to use its group of 15 human hematopoietic undifferentiated cell inferred adeno-related infection vectors (AAVHSCs) to definitively and effectively convey hereditary prescriptions in vivo through a quality treatment or without nuclease quality altering methodology, as well as to convey one-time quality treatment to create antibodies all through the body through the GTx-mAb stage.

Homology Medicines (FIXX) on Friday declared that the U.S. Food and Drug Administration (FDA) has informed the organization that its pheNIX preliminary has been put on clinical hold.

  • FIXX’s preliminary was for quality treatment of HMI-102 in grown-ups with phenylketonuria (PKU) which The FDA put on clinical hold because of the need to alter hazard moderation measures in the review in light of perceptions of raised liver capacity tests.
  • FIXX hopes to get an authority clinical hold letter within 30 days.
  • FIXX plans to give an update awaiting additional lucidity from the FDA.
  • Homology Medicines (FIXX) said it will be working with the FDA to resolve the Agency’s inquiries and criticism once it gets the letter.
  • The hang on FIXX’s PKU quality treatment preliminary depends on clinical perceptions in the pheNIX study and doesn’t connect with CMC/producing abilities or the organization’s other clinical projects.

What FIXX is arranging further?

FIXX will intend to give subsequent stages once it has more data following its FDA associations. Homology Medicines (FIXX) has two continuous clinical projects, the pheEDIT quality altering preliminary of HMI-103 for PKU and the juMPStart quality treatment preliminary of HMI-203 for Hunter condition, with program refreshes expected before the current year’s over.

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