Freeline Therapeutics Announces Second Round Of Layoffs, Shelves Fabry Disease Program

Freeline Therapeutics Holdings plc FRLN further assessed its strategic priorities and decided to pause the development of FLT190 in Fabry disease to focus its resources on advancing FLT201, which has the potential to be a first- and best-in-class gene therapy for Gaucher disease type 1.
Based on its preclinical data, Freeline believes FLT201 can potentially improve clinical outcomes for patients with Gaucher disease type 1 with a one-time therapy.
The company is actively screening patients for dosing in its GALILEO-1 Phase 1/2 trial of FLT201 in Gaucher disease and now expects to report initial data in Q3 of 2023.
Earlier, the company expected initial safety and efficacy data in 1H of 2023 and updated data in 2H of 2023.
The company has proposed to reduce its workforce by nearly 30%, bringing its headcount to approximately 65 employees.
Unrestricted cash and cash equivalents were $47.3 million providing a cash runway into the second quarter of 2024.
In the Q3 earnings update, the company stopped investment in further development of FLT180a (hemophilia program) without a partner.
Price Action: FRLN shares are down 4.79% at $0.46 on the last check Tuesday.