Frequency Therapeutics is a leader in the development of medicines designed to activate progenitor cells within the body to treat degenerative diseases. The Company’s lead product candidate, FX-322, is a potential disease modifying therapy designed to regenerate auditory hair cells to improve hearing function. In a Phase 1/2 study of FX-322, the Company observed clinically meaningful improvement in key measures of hearing function in patients with sensorineural hearing loss, the most common form of hearing loss. In Q4 2019, Frequency commenced a Phase 2a study of FX-322. In September 2020, enrollment for the study was completed. The Frequency progenitor cell activation (PCA) approach stimulates progenitor cells to create functional tissue and the company is researching an array of additional degenerative diseases where PCA may be applied, including a discovery program in multiple sclerosis.