Q32 Bio Inc.
Business
Q32 Bio is a clinical-stage biotechnology company developing novel biologics to restore healthy immune balance in patients with autoimmune and inflammatory diseases. Its lead candidate, bempikibart (ADX-914), is a fully human anti-IL-7 receptor alpha monoclonal antibody in Phase 2a development for alopecia areata and atopic dermatitis. The company also retains a proprietary tissue-targeted complement inhibitor platform, including ADX-096 for ophthalmologic indications, while having divested ADX-097 to Akebia Therapeutics in November 2025.
Summary from 10-K filed 2026-03-10
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Collaboration arrangement revenue | 54 | 0 | −7 | — | — | |
| Research and development | 19 | 48 | 32 | 98 | 93 | |
| General and administrative | 18 | 18 | 10 | 38 | 37 | |
| Total operating expenses | 37 | 66 | 42 | 136 | 130 | |
| Income (loss) from operations | 17 | −66 | −48 | −133 | −96 | |
| Change in fair value of convertible notes | 0 | 16 | −6 | — | — | |
| Gain on sale of asset | 12 | 0 | — | — | — | |
| Other income (expense), net | 1 | 4 | 1 | 134 | 185,000 | |
| Total other income (expense), net | 13 | 20 | −5 | — | — | |
| Income (loss) before provision for income taxes and loss from equity method investment | 30 | −46 | −53 | — | — | |
| Provision for income taxes | 0 | −21,000 | −318,000 | −700,000 | 0 | |
| Loss from equity method investment | 0 | −2 | 0 | — | — | |
| Net income (loss) | 30 | −48 | −54 | −5 | −96 | |
| Net income (loss) per share- basic | 2.42 | −5.12 | −153.96 | −0.09 | −1.73 | |
| Net income (loss) per share- diluted | 2.42 | −6.58 | −153.96 | −0.09 | −1.73 | |
| Weighted-average common shares - basic | 12 | 9 | 349,060 | 57 | 55 | |
| Weighted-average common shares - diluted | 12 | 10 | 349,060 | 57 | 55 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2022 2022-02-28 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 48 | 78 | 26 | 34 | — | |
| Prepaid expenses and other current assets | 7 | 4 | 3 | 6 | — | |
| Total current assets | 55 | 82 | 29 | 181 | — | |
| Equity investment | 0 | 3 | 0 | 26 | 74 | |
| Property and equipment, net | 979,000 | 1 | 2 | 1 | — | |
| Right-of-use asset, operating leases | 5 | 6 | 6 | 21 | — | |
| Restricted cash and restricted cash equivalents | 647,000 | 647,000 | 6 | — | — | |
| Other noncurrent assets | 0 | 116,000 | 5 | — | — | |
| Total assets | 62 | 92 | 47 | 228 | — | |
| Accounts payable | 879,000 | 3 | 3 | 1 | — | |
| Accrued expenses and other current liabilities | 4 | 7 | 10 | 19 | — | |
| CVR liability | 0 | 3 | 0 | — | — | |
| Venture debt, current portion | 6 | 3 | 878,000 | — | — | |
| Total current liabilities | 11 | 16 | 14 | 23 | — | |
| Lease liability, net of current portion | 5 | 6 | 6 | 28 | — | |
| Venture debt, net of current portion | 3 | 10 | 5 | — | — | |
| Other noncurrent liabilities | 0 | 55 | 55 | — | — | |
| Total liabilities | 20 | 87 | 119 | 50 | — | |
| Commitments and contingencies (Note 11) | — | — | — | — | — | |
| Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding at December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | 0 | — | |
| Common stock, $0.0001 par value; 400,000,000 shares authorized, 12,858,047 and 12,197,615 shares issued and outstanding at December 31, 2025 2024, respectively | 2,000 | 2,000 | 1,000 | 6,000 | — | |
| Additional paid-in capital | 247 | 240 | 4 | — | — | |
| Accumulated deficit | −205 | −235 | −187 | −429 | — | |
| Total stockholders' equity (deficit) | 42 | 6 | −183 | −131 | — | |
| Total liabilities and stockholders' equity (deficit) | 62 | 92 | 47 | 228 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Non-cash revenue from settlement of customer refund liability | −54 | 0 | — | — | — | |
| Amortization of debt discount and issuance costs | 180,000 | 194,000 | 87,000 | — | — | |
| Amortization of premium on short-term investments | 0 | −221,000 | 0 | −2 | −894,000 | |
| Depreciation expense | 400,000 | 500,000 | 500,000 | 1 | 8 | |
| Stock-based compensation expense | 5 | 4 | 1 | 13 | 17 | |
| Non-cash lease expense | 622,000 | 579,000 | 544,000 | — | — | |
| Loss on impairment of equity investment | 74,000 | 675,000 | 0 | — | — | |
| Change in fair value of CVR liability | −374,000 | −2 | 0 | — | — | |
| Prepaid expenses and other current assets | 2 | 276,000 | −94,000 | 840,000 | −5 | |
| Other noncurrent assets | 116,000 | 386,000 | −5 | — | — | |
| Accounts payable | −2 | −1 | 2 | −981,000 | −2 | |
| Operating lease liability | −612,000 | −2 | −471,000 | — | — | |
| Accrued expenses and other current liabilities | −3 | −8 | 199,000 | 7 | 2 | |
| Net cash used in operating activities | −34 | −68 | −19 | −114 | −110 | |
| Purchases of property and equipment | 0 | −75,000 | −5,000 | −1 | −2 | |
| Proceeds from sale of asset | 7 | 0 | — | — | — | |
| Maturities of short-term investments | 0 | 20 | 0 | — | — | |
| Net cash provided by investing activities | 7 | 20 | −5,000 | 37 | −51 | |
| Proceeds from borrowings under loan and security agreement | 0 | 7 | 6 | — | — | |
| Proceeds from issuance of common stock in pre-closing financing | 0 | 42 | 0 | 0 | 50 | |
| Cash acquired in connection with reverse recapitalization | 0 | 53 | 0 | — | — | |
| Payment of reverse recapitalization transaction costs | 0 | −9 | 0 | — | — | |
| Principal payments on venture debt | −3 | 0 | — | — | — | |
| Proceeds from exercise of common stock options | 0 | 2 | 106,000 | 1,000 | 145,000 | |
| Net cash provided by (used in) financing activities | −3 | 95 | 406,000 | 596,000 | 52 | |
| Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | −30 | 47 | −18 | — | — | |
| Interest payments on venture debt | 961,000 | 856,000 | 422,000 | 0 | 241,000 | |
| Short Term Investments Acquired In reverse recapitalization | 0 | 20 | 0 | — | — | |
| Issuance of CVR at fair value | 0 | 180,000 | 0 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Q32 Bio Inc.'s CIK number?
Q32 Bio Inc.'s SEC CIK number is 0001661998 (1661998). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Q32 Bio Inc.'s SEC filings?
All of Q32 Bio Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Q32 Bio Inc. last report earnings?
Q32 Bio Inc. (QTTB) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-205006). This is Q32 Bio Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Q32 Bio Inc.'s most recent earnings 8-K?
Q32 Bio Inc.'s latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0001193125-26-205006. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Q32 Bio Inc.'s latest earnings 8-K →
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