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QTTB

Q32 Bio Inc.

QTTB

Q32 Bio Inc. • NASDAQ
$2.19 ▲ 6.31% (+0.13)
Market Cap $26.94 M
52w High $28.06
52w Low $1.34
Dividend Yield 0%
P/E -0.64
Volume 65.01K
Outstanding Shares 12.30M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $7.577M ▼ $-7.389M ▲ 0% $-0.6 ▲ $-7.089M ▲
Q2-2025 $0 $9.08M ▼ $-9.489M ▲ 0% $-0.78 ▲ $-9.098M ▲
Q1-2025 $0 $12.228M ▼ $-11.031M ▲ 0% $-0.9 ▲ $-10.612M ▼
Q4-2024 $0 $14.526M ▼ $-14.189M ▲ 0% $-2.33 ▼ $6.709M ▲
Q3-2024 $0 $18.814M $-17.595M 0% $-1.46 $-18.691M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $49.039M ▼ $57.784M ▼ $76.232M ▼ $-18.448M ▼
Q2-2025 $54.832M ▼ $66.117M ▼ $78.352M ▼ $-12.235M ▼
Q1-2025 $65.483M ▼ $79.071M ▼ $83.085M ▼ $-4.014M ▼
Q4-2024 $77.965M ▼ $92.332M ▼ $86.657M ▲ $5.675M ▼
Q3-2024 $89.078M $104.542M $86.247M $18.295M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-7.389M ▲ $-4.23M ▲ $0 $-1.563M ▼ $-5.793M ▲ $-4.23M ▲
Q2-2025 $-9.489M ▲ $-10.651M ▲ $0 $0 $-10.651M ▲ $-10.651M ▲
Q1-2025 $-11.031M ▲ $-12.482M ▼ $0 ▲ $0 ▼ $-12.482M ▼ $-12.482M ▼
Q4-2024 $-14.189M ▲ $-11.428M ▲ $-2K ▼ $317K ▼ $-11.113M ▼ $-11.43M ▲
Q3-2024 $-17.595M $-19.522M $9.942M $997K $-8.583M $-19.58M

Five-Year Company Overview

Income Statement

Income Statement Q32 Bio is essentially a pure research company today, with no meaningful recurring revenue and a steady pattern of operating losses. The income statement is dominated by R&D and overhead costs, which consistently outweigh any small collaboration or other income. Losses have been fairly persistent over the past several years, which is typical for a clinical‑stage biotech that has not yet commercialized a product. The very large swings in reported earnings per share are mostly an accounting effect from share count changes and the reverse split, rather than a sudden shift in the underlying business performance.

Balance Sheet

Balance Sheet The balance sheet is small and lean. Assets are modest and largely made up of cash, with very limited physical assets. Debt exists but is not overwhelming, so leverage is not the main concern; the bigger issue is simply the size of the cash cushion relative to ongoing spending. Equity has moved from positive to negative and back again over the years, reflecting cumulative losses partly offset by new capital being raised. Overall, the company has some financial flexibility but not a large safety buffer, making future access to capital important.

Cash Flow

Cash Flow Cash flow reflects the company’s stage: money flows out to fund clinical trials, staff, and overhead, while essentially nothing comes in from products. Operating cash burn has been consistent, and free cash flow is negative every year, with virtually no outlays for equipment or facilities. This means the business is heavily dependent on external funding—through equity raises, partnerships, or other financing—to sustain its programs over time. The key question is how long the current cash balance can support the existing trial plans before additional capital is needed.

Competitive Edge

Competitive Edge Q32 Bio is a small player in a very competitive area of biotech: immune‑mediated and autoimmune diseases. Its edge is based on differentiated science—a dual‑targeting antibody for T‑cell–driven disease and a tissue‑targeted complement platform that aims to avoid broad immune suppression. These are interesting concepts in areas where large companies are also active. However, as a clinical‑stage firm without approved products, its competitive strength will depend heavily on whether its mid‑stage trials show clear, compelling benefits and whether it can secure strong development or commercialization partners to compete with larger, better‑funded rivals.

Innovation and R&D

Innovation and R&D Innovation is the core of Q32 Bio’s story. The company is pursuing two main platforms: a lead antibody (bempikibart) in a mid‑stage trial for alopecia areata, and a complement‑targeting platform with one program already through early human safety testing and others in preclinical work. R&D spending is a major part of the cost base, and the pipeline is still in the higher‑risk stages where success is far from guaranteed. The FDA’s Fast Track status for the lead program and the tissue‑targeted design of the complement drugs are positives from an innovation standpoint, but meaningful value will hinge on future clinical readouts and the ability to translate scientific promise into clear patient benefit.

Summary

Overall, Q32 Bio looks like a classic early‑stage biotech: science‑driven, pre‑revenue, and financially dependent on external funding. The financial statements show recurring losses and cash burn consistent with intensive R&D, supported by a modest balance sheet rather than a large cash war chest. The company’s potential lies in its novel approaches to immune regulation and complement targeting, backed by early regulatory recognition for its lead asset. At the same time, it faces the usual biotech uncertainties—clinical risk, regulatory hurdles, competition from larger firms, and the ongoing need to raise capital. Future trial results, strategic partnerships, and financing decisions are the key items to watch.

NEWS

November 13, 2025 · 6:59 AM UTC

Q32 Bio Reports Third Quarter 2025 Financial Results and Provides Corporate Update

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October 21, 2025 · 6:59 AM UTC

Q32 Bio Announces Completion of Enrollment in Part B of SIGNAL-AA Phase 2a Clinical Trial of Bempikibart for Alopecia Areata

Read more