Homology Medicines Reports Third Quarter 2023 Financial Results

Homology Medicines Inc. shared its Q3 2023 results, showing a net loss of $33.0 million. The genetic medicines company has halted all of its programs due to the current financial climate and the expected clinical development timeline. This includes its HMI-103 gene editing candidate for the treatment of phenylketonuria (PKU). The company, which said it has enough cash to fund operations for a year, is now evaluating its strategic options and has retained TD Cowen as its strategic financial advisor.