Freeline Therapeutics Stops Further Development On Hemophilia Program, Cuts Workforce

Freeline Therapeutics Holdings plc FRLN has decided to focus its resources on FLT201 in Gaucher disease and FLT190 in Fabry disease.
The company will stop investment in further development of FLT180a without a partner.
Additionally, Freeline announced updated data from the two patients treated in the first cohort from the MARVEL-1 Phase 1/2 trial of FLT190 at a dose of 7.5e11 vg/kg.
People with classic Fabry disease have little to no functional α-Gal A enzyme.
Data exhibited elevated α-Gal A levels sustained for up to three years in Patient 1 and one year in Patient 2, with Patient 2 continuing to remain off enzyme replacement therapy (ERT).
FLT190 has been well-tolerated.
Related: HC Wainwright Cuts Price For This Small Cap 'Reflecting Potential Pause In Hemophilia Program.'
No long-term cardiac sequelae have been observed following the early and transient mild myocarditis in both patients. The myocarditis resolved on its own in both patients.
Freeline initiated dosing in the second cohort (1.5e12 vg/kg) in September 2022.
The initial safety and efficacy data from the second cohort is expected in 1H of 2023
The initial safety and efficacy data from FLT201 in Gaucher disease is expected in 1H of 2023, with updated data in 2H of 2023.
The company is reducing its workforce by approximately 30 employees. This reduction would bring Freeline's headcount to approximately 100 employees by the end of 2022.
Freeline has also agreed to sell its CMC-focused subsidiary in Germany to Ascend Gene and Cell Therapies Ltd for $25 million.
Unrestricted cash and cash equivalents of $65.8 million, plus the anticipated proceeds from the sale of Freeline, will enable the company to fund its planned operations into 2024.
Price Action: FRLN shares traded lower by 5.24% at $0.6494 on the last check Tuesday.

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Freeline Therapeutics Stops Further Development On Hemophilia Program, Cuts Workforce