Q32 Bio Inc. QTTB
We are a clinical stage biotechnology company focused on developing novel biologics to effectively and safely restore healthy immune balance in patients with alopecia areata ("AA") and other autoimmune and inflammatory diseases driven by pathological immune dysfunction.
Bempikibart (ADX-914), our most advanced product candidate, is a fully human anti–interleukin-7 receptor alpha ("IL-7Rα"), antagonist monoclonal antibody designed to re-regulate adaptive immune function by potently blocking signaling mediated by interleukin-7 ("IL-7"), and thymic stromal lymphopoietin ("TSLP"). We have completed two Phase 2a clinical trials evaluating bempikibart, SIGNAL-AA Part A, for the treatment of AA, and SIGNAL-AD, for the treatment of atopic dermatitis ("AD").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $53.7M | $0 | -$6.7M | $3.2M | $34.0M | $2.7M | $1.7M | $5.3M | — | — |
| R&D | $19.2M | $48.1M | $31.7M | $98.4M | $93.1M | $100.4M | $89.4M | $47.9M | $21.4M | — |
| SG&A | $17.7M | $18.0M | $9.9M | $38.1M | $36.8M | $32.6M | $22.2M | $17.3M | $8.3M | — |
| Total operating expenses | $36.8M | $66.1M | $41.6M | $136.5M | $129.9M | $133.0M | $111.6M | $65.2M | $29.7M | — |
| Operating income | $16.9M | -$66.1M | -$48.3M | -$133.3M | -$95.9M | -$130.3M | -$109.9M | -$59.9M | -$29.7M | — |
| Interest expense | $1.1M | $2.8M | $693.0K | — | — | — | — | — | — | — |
| Pre-tax income | $29.8M | -$46.1M | -$53.4M | $1.2M | -$95.8M | -$128.7M | -$103.9M | -$55.6M | -$30.0M | — |
| Income tax | $0 | $21.0K | $318.0K | $715.0K | $0 | $0 | $0 | $0 | $0 | — |
| Net income | $29.8M | -$47.7M | -$53.7M | -$5.0M | -$95.8M | -$128.7M | -$103.9M | -$55.6M | -$30.0M | — |
| EPS, basic | 2.42 | -5.12 | -153.96 | -0.09 | -1.73 | — | — | — | — | — |
| EPS, diluted | 2.42 | -6.58 | -153.96 | -0.09 | -1.73 | -2.80 | -2.47 | -1.95 | -12.10 | — |
| Shares, diluted (wtd. avg.) | $12.3M | $9.7M | $349.1K | $57.4M | $55.3M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $48.3M | $78.0M | $31.3M | $49.5M | $108.4M | $217.4M | $53.8M | $38.2M | $51.6M | $11.4M |
| Short-term investments | — | $0 | $0 | $141.0M | $47.5M | $0 | $208.6M | $176.5M | $78.1M | — |
| Total current assets | $55.0M | $81.9M | $28.7M | $181.0M | $191.9M | $219.6M | $266.6M | $221.7M | $131.6M | — |
| Property, plant and equipment | $979.0K | $1.4M | $1.8M | $1.1M | $2.3M | $37.0M | $42.7M | $35.6M | $3.2M | — |
| Total assets | $61.8M | $92.3M | $47.1M | $228.5M | $211.7M | $263.7M | $310.6M | $259.1M | $137.5M | — |
| Accounts payable | $879.0K | $3.0M | $3.5M | $1.1M | $2.4M | $4.7M | $2.6M | $15.7M | $2.5M | — |
| Total current liabilities | $11.3M | $16.5M | $14.1M | $22.6M | $17.2M | $22.7M | $12.4M | $22.5M | $8.9M | — |
| Total liabilities | $19.8M | $86.7M | $118.5M | $50.5M | $42.1M | $67.7M | $52.1M | $62.7M | $39.2M | — |
| Retained earnings | -$205.0M | -$234.8M | -$187.1M | -$429.1M | -$424.1M | -$328.4M | -$199.7M | -$95.8M | -$40.2M | — |
| Total equity | $42.0M | $5.7M | -$182.9M | -$130.7M | $169.7M | $196.0M | $258.5M | $196.4M | -$39.5M | -$9.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$33.5M | -$67.7M | -$18.7M | -$113.7M | -$109.8M | -$94.3M | -$91.4M | -$42.6M | $6.5M | — |
| Depreciation and amortisation | $391.0K | $487.0K | $499.0K | $1.3M | $8.4M | $8.0M | $6.3M | $1.3M | $684.0K | — |
| Stock-based compensation | $5.3M | $4.4M | $1.4M | $13.1M | $17.2M | $13.2M | $7.6M | $2.6M | $277.0K | — |
| Capital expenditure | $0 | $75.0K | $5.0K | $1.3M | $2.4M | $3.7M | $21.8M | $24.9M | $2.0M | — |
| Investing cash flow | $7.0M | $19.9M | -$5.0K | $36.7M | -$50.8M | $204.9M | -$51.8M | -$121.8M | -$81.5M | — |
| Financing cash flow | -$3.1M | $95.1M | $406.0K | $596.0K | $52.2M | $53.1M | $158.2M | $151.0M | $115.2M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-193934.
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