PFE - Homology Medicines: $60 Million Pfizer Equity-Investment 4 Encouraging Candidates And Competent Management

• Homology Medicines is a US-based genetic medicines biotech company aiming to treat rare genetic diseases with an unmet medical need.
• Homology Medicines has a pipeline of 1 Phase 1/2 therapeutic (HMI-102), 3-IND-enabling phase therapeutics, and 3 in the early research phase on top of two partnerships with Pfizer and Novartis.
• Homology Medicines is revenue producing <$5M on top of a reasonable cash basis ($178M + Pfizer payment) to fund operations till 3Q 2022. First-commercialization isn't expected until 2026-2027.
• Homology Medicines' 2021 catalysts will be the Phase 1/2 completion for HMI-102 in June 2021 and a new therapeutic progressed into clinical during 2H2021 with potential candidates being HMI-202, HMI-203, HMI-103.
• In summary, the author projects Homology Medicines, Inc. as a "BUY" at a 1-year price target of $15.87 (+29% upside).

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