Thieler Law Corp advises investors with losses exceeding $100,000 of the June 18, 2021.lead plaintiff deadline in a class action lawsuit filed against Frequency Therapeutics, Inc. (NASDAQ: FREQ) (Frequency Therapeutics, Inc. or “the Company”). The suit is pending in the U.S. District Court for the District of Massachusetts and investors, who purchased Frequency Therapeutics, Inc. securities between November 16, 2020 and March 22, 2021 (“Class Period”), have until August 2, 2021 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Frequency Therapeutics, Inc. securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

Frequency is a publicly-traded pharmaceutical company. Headquartered in Woburn, Massachusetts and incorporated in Delaware, Frequency is focused on the development and commercialization of a hearing loss treatment titled “FX-322,” which the Company has long promoted as a potential treatment for patients with severe sensorineural hearing loss (“SNHL”).

Frequency has conducted multiple clinical trials assessing the safety and efficacy of FX-322, the most significant of which was a Phase 2a trial, which began in October 2019. Each participant in the Phase 2a trial was given a four-dose regimen of FX-322 (or a placebo), which consisted of a single injection of the drug (or placebo) four weeks in a row. Frequency then assessed the results 90 days after completion of the regimen and again in the months after.

Shortly thereafter, Defendants Frequency and Lucchino learned that the Company’s Phase 2a trial results failed to live up to the Company’s expectations as the results revealed no discernable difference between FX-322 and the placebo.

In spite of the disappointing results, the Company continued to conduct the Phase 2a study while releasing positive statements in earnings calls, press releases, SEC filings, and pharmaceutical presentations about FX-322’s potential. These statements materially misled the market and artificially inflated the value of Frequency’s common stock.

Seizing on the Company’s artificially high share price, in April 2020 Defendant Lucchino began selling his shares of Frequency, initially dumping between 10,000 and 20,000 shares—earning hundreds of thousands of dollars—each month and then increasing the number of sales to 60,000 to 80,000 shares—earning millions of dollars—each month as Frequency’s deadline for releasing the disastrous Phase 2a results drew near. All told, Lucchino sold over 350,000 shares and earned over $10.5 million.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Frequency’s development and commercialization of a hearing loss treatment titled “FX-322” was not producing the results desired by Frequency; (2) FX-322’s ongoing clinical study was not as positive as Frequency portrayed it; and (3) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.