Frequency Therapeutics Defeats Investor Claims Over Hearing Drug

A Frequency Therapeutics Inc. investor failed to persuade the First Circuit Tuesday to revive a class action lawsuit alleging the regenerative medicine company willfully misrepresented the progress of a hearing-loss drug.

Julian Quinones’s securities fraud suit doesn’t offer sufficient evidence Frequency executives knew the drug wasn’t performing better than a placebo when they made positive statements about its potential, said Judge William J. Kayatta, Jr. of the US Court of Appeals for the First Circuit.

The ruling affirms a district court decision dismissing the complaint, clearing away a cloud Frequency faced from the consolidated suit.

Quinones alleged Frequency executives violated ...