FIXX - Homology Medicines downgraded to perform at Oppenheimer on clinical hold

Oppenheimer has downgraded Homology Medicines (FIXX -26.6%) to perform following the company's announcement on Friday that the U.S. Food and Drug Administration imposed a clinical hold on its pheNIX gene therapy trial of HMI-102 for phenylketonuria. Shares are down ~27%. The firm has also withdrawn its price target. Analyst Matthew Biegler wrote that although the issue with liver function tests is solvable, the hold adds risk to the trial's next expected readout in the middle of the year. The solution could center "on a combination of patient monitoring and more aggressive immunosuppression," he wrote. Read about Homology's (FIXX -26.6%) recent deal with Oxford Biomedica.

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Homology Medicines downgraded to perform at Oppenheimer on clinical hold