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Q32 Bio Inc. (QTTB-8.01%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing biologics for autoimmune and inflammatory diseases, highlighting their lead product candidate, bempikibart, which is in Phase 2a trials for alopecia areata (AA) and atopic dermatitis (AD).
Q32 Bio reported a net loss of $47.7 million for the year, with research and development expenses totaling $48.1 million, reflecting increased spending on clinical trials and manufacturing for bempikibart.
The company announced a corporate restructuring in February 2025 to prioritize bempikibart's development, discontinuing the Phase 2 trial of ADX-097.
Q32 Bio's cash and cash equivalents were $78.0 million as of December 31, 2024, expected to fund operations into the second half of 2026.
The company completed a merger with Homology Medicines, Inc. in March 2024, resulting in a reverse recapitalization and a cash infusion of $42.0 million from a pre-closing financing.
Q32 Bio regained full development and commercial rights to bempikibart following the termination of agreements with Horizon Therapeutics, with potential milestone payments of up to $75.1 million.
The company plans to advance bempikibart into further clinical trials, with a focus on AA, and expects to report additional data by the first half of 2026.
Q32 Bio's future funding requirements will depend on the progress of its clinical programs, regulatory approvals, and potential partnerships or collaborations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Q32 Bio Inc. annual 10-K report dated March 11, 2025. To report an error, please email earnings@qz.com.