On July 25, 2023, the Board of Directors of Homology Medicines, Inc. approved a reduction in the Company?s current workforce by approximately 80 employees. The decision was based on cost-reduction initiatives intended to reduce the Company?s ongoing operating expenses and maximize shareholder value as the Company plans to pursue strategic options. The reduction in force included Julie Jordan, M.D., the Company?s Chief Medical Officer and Michael Blum, the Company?s Chief Commercial Officer.

The Company intends to retain Mr. Blum as a consultant.