PFE - Homology Medicines nabs investment from Pfizer

Homology Medicines (FIXX) jumps 20% in premarket on xxx volume after securing equity investment of $60M from Pfizer (PFE) and purchase 5M Homology shares at $12/share.In connection with the investment, Pfizer’s Dr. Cheng will join Homology’s Scientific Advisory Board to participate in matters related to the development of the Company’s PKU product candidates.Additionally, the Company has granted Pfizer a right of first refusal on future transactions involving these programs.Net proceeds will be use to fund Homology's ongoing and planned PKU clinical trials, as well as the Company’s central nervous system programs. Homology expects cash resources to fund operations into Q3 of 2022.

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Homology Medicines nabs investment from Pfizer