Frequency Therapeutics is focused on the development of small molecule drugs that activate progenitor cells within the body to restore healthy tissue.It is headquartered in Lexington, Mass.In February 2021, Frequency Therapeutics announced the publication of its FX-322 Phase 1/2 study results in Otology & Neurotology, a leading peer-reviewed journal focused on disorders of the ear.In July 2020, the company agreed to sell 2,350,108 shares of common stock in a private placement to institutional and accredited investors at a price of $18.00 per share and planned to raise a gross proceeds of approximately $42.3 million. The closing of the private placement was subjected to customary closing conditions which was expected to occur on July 20, 2020.In September 2019, the company filed with the SEC to raise up to $100 million in an initial public offering. Later that month, the company was planning to raise $101 million by offering 6.7 million shares at a price range of $14 to $16