Q32 Bio Inc.
QTTB evidence brief
What we can confirm
What it means
What to watch
Prepared research question
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Traceable citations · Unknowns marked
BioSniper AI · QTTB
Q32 Bio Inc. is a clinical-stage biotechnology company focused on developing bempikibart, a monoclonal antibody targeting the IL-7 receptor, for autoimmune and inflammatory diseases, with a lead program in alopecia areata.
Key risk: Clinical trial failure risk
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 1 clinical trial for Q32 Bio Inc..
Q32 Bio Inc. is a clinical-stage biotechnology company focused on developing bempikibart, a monoclonal antibody targeting the IL-7 receptor, for autoimmune and inflammatory diseases, with a lead program in alopecia areata.
- Lead product candidate is bempikibart, being evaluated in the SIGNAL-AA Phase 2a clinical trial for alopecia areata [sec · filed 2026-07-13].
- Cash and cash equivalents were $106.3 million as of June 30, 2026 [sec_mda · as of 2026-08-05].
- Net loss for the quarter ended June 30, 2026 was $8.9 million [latest reported financials (as of 2026-06-30)].
- Accumulated deficit of $221.5 million as of June 30, 2026 [sec_mda · as of 2026-08-05].
- Shareholders' equity was negative $12.2 million as of June 30, 2026 [latest reported financials (as of 2026-06-30)].
What works
- Cash runway extended into the first half of 2028, based on current cash, ATM proceeds, and guaranteed near-term milestones from the ADX-097 Asset Sale [sec_mda · as of 2026-05-05].
- Bempikibart targets the IL-7 receptor, a well-validated pathway in autoimmune diseases, with potential for disease modification [sec_mda · as of 2026-08-05].
- The company has a strategic focus on a single lead asset, allowing concentrated resource allocation [sec_mda · as of 2026-08-05].
What to weigh
- The company has incurred significant operating losses since inception and expects negative cash flows for the foreseeable future [sec_mda · as of 2026-08-05].
- No products have been commercialized, and revenue from product sales is not expected for several years, if at all [sec_mda · as of 2026-08-05].
- Shareholders' equity is negative, indicating a net deficit position [latest reported financials (as of 2026-06-30)].
- The company will need additional capital to complete development and commercialization of any programs [sec_mda · as of 2025-05-08].
From the filings
Quoted directly from source documents.
Cash and cash equivalents were $106.3 million as of June 30, 2026.
“As of June 30, 2026, we had cash and cash equivalents of $106.3 million.”
SEC MD&A · August 5, 2026
Accumulated deficit was $221.5 million as of June 30, 2026.
“as of June 30, 2026, had an accumulated deficit of $221.5 million.”
SEC MD&A · August 5, 2026
The company expects to need additional capital to complete development and commercialization.
“We do not expect our existing cash and cash equivalents will be sufficient for us to advance any of our programs through regulatory approval, and we will need to raise additional capital to complete the development and potential commercialization of any of our programs.”
SEC MD&A · May 8, 2025
Bempikibart is being evaluated in the SIGNAL-AA Phase 2a trial for alopecia areata.
“topline data from the Part B of the SIGNAL-AA Phase 2a clinical trial and the safety, tolerability, clinical activity including biomarker data, potential efficacy and potential benefits of bempikibart”
SEC filings · July 13, 2026
Risks & what to watch (4)›
Key risks
- Clinical trial failure risk — Bempikibart is in Phase 2a; failure to show efficacy or safety could halt development [sec · filed 2026-07-13].
- Financing risk — Cash runway only into first half of 2028; additional capital needed for later-stage trials and commercialization [sec_mda · as of 2026-05-05].
- No revenue from products — No commercialized products; no product revenue expected for several years, if at all [sec_mda · as of 2026-08-05].
- Negative shareholders' equity — Shareholders' equity of -$12.2M as of June 30, 2026 indicates a net deficit [latest reported financials (as of 2026-06-30)].
What to watch
- Topline data from Part B of the SIGNAL-AA Phase 2a trial for bempikibart [sec · filed 2026-07-13].
- Cash burn rate and any updates to cash runway guidance [sec_mda · as of 2026-08-05].
- Progress in raising additional capital to fund later-stage development [sec_mda · as of 2025-05-08].
- Any regulatory or clinical milestones for bempikibart in alopecia areata or other indications [sec_mda · as of 2026-08-05].
Sources: SEC filings · SEC MD&A · Generated August 27, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
105.1 months
D/E 0.09 · 0% dilution
Lead: Phase 2
2 candidates
No upcoming catalysts tracked
4 buys · 0 sells (180d)
Runway
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
49
Total value held
$31.2M
| Holder | Shares | Value |
|---|---|---|
| orbimed advisors llc | 2,252,987 | $14.5M |
| vanguard capital management llc | 612,802 | $3.9M |
| arch venture management, llc | 320,482 | $2.1M |
| acorn capital advisors, llc | 315,052 | $2.0M |
| mackenzie financial corp | 246,304 | $1.6M |
| renaissance technologies llc | 206,915 | $1.3M |
| monimus capital management, lp | 134,310 | $862K |
| geode capital management, llc | 118,152 | $759K |
| pfizer inc | 101,618 | $737K |
| blackrock, inc. | 86,147 | $553K |
Showing top 10 of 49 institutional holders of Q32 Bio Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 20, 2026- % of float
- 7.0%
- Days to cover
- 1.3
- Shares short
- 411,011
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
QTTB short interestGovernance
Frequently asked questions
What is the AI investment thesis for Q32 Bio Inc.?
Q32 Bio Inc. is a clinical-stage biotechnology company focused on developing bempikibart, a monoclonal antibody targeting the IL-7 receptor, for autoimmune and inflammatory diseases, with a lead program in alopecia areata.
What is Q32 Bio Inc.'s lead drug candidate?
Q32 Bio Inc.'s most advanced tracked candidate is adx-097 (Phase 2) for IgA Nephropathy.
Who is the CEO of Q32 Bio Inc.?
Ms. Jodie Pope Morrison is the chief executive officer of Q32 Bio Inc. (QTTB).
Where is Q32 Bio Inc. headquartered?
Q32 Bio Inc. (QTTB) is headquartered in Waltham, MA, United States.
What therapeutic areas does Q32 Bio Inc. focus on?
Q32 Bio Inc. develops therapies across Immunology, Nephrology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.