Homology Medicines Inc (FIXX)

Homology Medicines Stock (FIXX) dropped by 34.99% from $0.8799 to $0.572 in the trading on Thursday November 16, 2023. The reasons why FIXX stock down today is due to the merger deal with Q32 Bio. Gene therapy companies Homology Medicines (FIXX) and Q32 Bio announced today that they have agreed to merge in an all-stock deal. The combined entity will be named Q32 Bio and will focus on Q32 Bio's experimental drugs for autoimmune and inflammatory diseases.

• Homology Medicines shareholders will own approximately 25% of the combined entity, while Q32 Bio shareholders will own the rest.
• FIXX investors will also be eligible for a contingent value right (CVR) related to sales of Homology Medicines' pre-merger assets.
• The merger transaction is expected to close in Q1 2024.