Q32 Bio Inc.
- Open
- 14.89
- Day high
- 15.95
- Day low
- 14.75
- Prev close
- 15.21
- Volume
- 1.3M
- Mkt cap
- $255M
- P/E (TTM)
- 5.6
- EPS (TTM)
- $2.68
- P/B
- 5.5
- P/S
- 4.7
- Yield
- —
- Per share
- —
- ▲Insiders net buying $30.0M over the last 3 months (4 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions mixed (13F)
Q32 Bio Inc. (QTTB) is a Healthcare company listed on NASDAQ. The stock is up 587% over the past year. Over the trailing 3 months, insiders filed 4 open-market buys and 0 sales (SEC Form 4).
Q32 Bio Inc. (QTTB) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
QTTB earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $-0.52 | $-0.54 | -3.8% | — | — |
| Mar 10, 2026 | $-0.86 | $3.65 | +524.4% | $54M | — |
| Nov 13, 2025 | $-1.39 | $-0.60 | +56.8% | — | — |
| Aug 6, 2025 | $-1.14 | $-0.78 | +31.6% | — | — |
| May 8, 2025 | $-1.23 | $-0.90 | +26.8% | — | — |
| Mar 11, 2025 | $-1.25 | $-1.16 | +7.2% | — | — |
| Nov 7, 2024 | $-1.41 | $-1.46 | -3.5% | — | — |
| May 9, 2024 | $-1.42 | $-13.15 | -826.1% | — | — |
| Mar 13, 2024 | $-0.30 | $-0.28 | +6.7% | $-15M | -3032.4% |
| Nov 14, 2023 | $-0.42 | $-0.57 | -35.7% | $2M | +271.8% |
| Jul 27, 2023 | $-8.55 | $-10.98 | -28.4% | $354000 | -57.4% |
| Sep 29, 2018 | — | $-7.15 | — | $954149 | — |
QTTB insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | Manke Isaacdirector | Option | 53,521 | $2.80 |
| Jun 16, 2026 | LAPORTE KATHLEENdirector | Grant | 9,810 | $12.64 |
| Jun 16, 2026 | Iwicki Mark Tdirector | Grant | 9,810 | $12.64 |
| Jun 16, 2026 | Manke Isaacdirector | Grant | 9,810 | $12.64 |
| Jun 16, 2026 | TZIANABOS ARTHURdirector | Grant | 9,810 | $12.64 |
| Jun 16, 2026 | GRAYZEL DAVID S.director | Grant | 9,810 | $12.64 |
| Jun 16, 2026 | Thistle Marydirector | Grant | 9,810 | $12.64 |
| Jun 16, 2026 | Lundberg Sven Antedirector | Grant | 9,810 | $12.64 |
| Jun 16, 2026 | Xu Diyongdirector, 10 percent owner: | Grant | 9,810 | $12.64 |
| Jun 1, 2026 | Xu Diyongdirector, 10 percent owner: | Buy | 625,000 | $8.00 |
| Jun 1, 2026 | Xu Diyongdirector, 10 percent owner: | Buy | 1,250,000 | $8.00 |
| Jun 1, 2026 | ORBIMED ADVISORS LLCdirector, 10 percent owner: | Buy | 625,000 | $8.00 |
| Jun 1, 2026 | ORBIMED ADVISORS LLCdirector, 10 percent owner: | Buy | 1,250,000 | $8.00 |
| Mar 20, 2026 | Violette Shelia M.officer: Chief Scientific Officer | Grant | 37,500 | — |
| Mar 20, 2026 | Morrison Jodie Popedirector, officer: CEO | Grant | 132,000 | — |
Source: QTTB SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full QTTB insider & 13F page →Q32 Bio Inc. company profile
Overview
Q32 Bio Inc. (NASDAQ:QTTB) is a clinical-stage biotechnology company founded in 2017 and headquartered in Waltham, Massachusetts. Originally incorporated as AdMIRx Inc., the company rebranded to Q32 Bio in April 2020 and went public in March 2018. The company focuses on developing innovative biologic therapeutics designed to restore healthy immune balance in patients suffering from autoimmune and inflammatory diseases caused by pathological immune dysfunction.
Business
Q32 Bio operates in the biotechnology sector, specifically focusing on immunology and autoimmune disease therapeutics. The company develops monoclonal antibody treatments that target specific components of the immune system to treat diseases where the body's immune response becomes dysregulated and attacks healthy tissues. The company's pipeline centers around two main therapeutic candidates. ADX-097 is a humanized anti-C3d monoclonal antibody fusion protein designed to restore complement regulation. The complement system is part of the innate immune system that helps clear pathogens and damaged cells, but when overactive, it can cause tissue damage in diseases like lupus nephritis and various kidney disorders. ADX-097 has completed Phase I clinical trials and targets renal and complement-mediated diseases including lupus nephritis, immunoglobulin A nephropathy, complement component 3 glomerulopathy, and anti-neutrophil cytoplasmic antibody-associated vasculitis. The second major program is Bempikibart (ADX-914), a fully human anti-interleukin-7 receptor alpha antagonist monoclonal antibody. This treatment works by blocking signaling pathways mediated by interleukin-7 and thymic stromal lymphopoietin, which are involved in adaptive immune function. Bempikibart is currently in Phase II clinical trials for treating atopic dermatitis (eczema) and alopecia areata (an autoimmune condition causing hair loss). Both therapeutic approaches represent the company's core strategy of developing precision medicines that modulate specific immune pathways rather than broadly suppressing the entire immune system, which is the approach of many current autoimmune treatments.
Revenue model
As a clinical-stage biotechnology company, Q32 Bio currently generates no product revenue, as evidenced by zero revenue reported across recent quarters. The company operates on a research and development model typical of pre-commercial biotech firms, funding operations through equity raises, grants, and potential partnership agreements. The company's future revenue model will likely depend on successfully advancing its drug candidates through clinical trials and regulatory approval. Potential revenue streams include direct product sales of approved therapeutics, licensing deals with larger pharmaceutical companies, milestone payments from development partnerships, and royalty agreements. The target customer base would primarily be healthcare providers, hospitals, and specialty clinics treating patients with autoimmune and inflammatory conditions. Several factors could significantly impact Q32 Bio's future profitability margins. Positive clinical trial results and regulatory approvals would dramatically improve the company's prospects and potentially command premium pricing given the high unmet medical need in autoimmune diseases. Conversely, clinical trial failures, regulatory setbacks, or safety concerns could severely impact valuation. The competitive landscape in immunology is intense, with large pharmaceutical companies and other biotech firms developing competing therapies. Manufacturing costs for complex biologics like monoclonal antibodies are typically high, though economies of scale can improve margins post-approval. Additionally, the company's ability to secure favorable reimbursement from insurance providers will be crucial for commercial success, as autoimmune treatments often require long-term administration and can be expensive.
Competitive moat
Q32 Bio's competitive moat is relatively narrow, which is typical for clinical-stage biotechnology companies. The company's primary defensive position lies in its intellectual property portfolio surrounding its specific monoclonal antibody designs and the particular targets they address. The anti-C3d approach of ADX-097 and the interleukin-7 receptor alpha targeting of Bempikibart represent somewhat differentiated mechanisms of action compared to existing treatments. However, this moat is inherently fragile and unproven. The company faces significant competition from well-funded pharmaceutical giants and other biotech companies developing treatments for similar indications. Large companies like Johnson & Johnson, AbbVie, and Novartis have extensive resources, established relationships with regulators, and proven commercial capabilities that Q32 Bio lacks. The regulatory approval process creates substantial uncertainty, and clinical trial failures could eliminate the company's competitive position entirely. The strength of Q32 Bio's eventual moat will largely depend on clinical trial outcomes, the degree of efficacy demonstrated versus existing treatments, safety profiles, and the company's ability to secure broad patent protection. If successful, the company could potentially establish a strong position in specific niche indications where current treatments are inadequate. However, until clinical efficacy is proven and regulatory approval obtained, the company operates with minimal sustainable competitive advantages beyond its current intellectual property and scientific expertise.
Risks & safety
Q32 Bio presents significant financial risk with limited margin of safety for investors. • **Cash Position**: The company maintains approximately $78 million in cash and short-term investments as of Q4 2024, providing some near-term operational runway. • **Burn Rate**: With negative operating cash flow of $67.7 million for full year 2024 and quarterly burn rates averaging $15-20 million, the current cash position suggests roughly 12-18 months of funding at current spending levels. • **Debt and Solvency**: The company shows a concerning debt-to-equity ratio of 3.33, though much of this may be related to clinical trial liabilities and deferred obligations rather than traditional debt. Current ratio of 4.97 indicates good short-term liquidity. • **Valuation Metrics**: With a market cap of only $23 million and negative earnings, traditional valuation metrics are not meaningful. The company trades at a significant discount to its book value. • **Clinical Risk**: As a pre-revenue biotech company, the primary risk lies in clinical trial outcomes, with potential for total loss if drug candidates fail to demonstrate efficacy or encounter safety issues.
Recent development
Based on the available financial data, Q32 Bio has been advancing its clinical programs over recent years, though specific strategic developments are limited without earnings call transcripts. The company's financial trajectory shows the typical pattern of a clinical-stage biotech company, with significant research and development expenditures and no product revenue. The most notable financial development has been the company's cash management and funding activities. The company appears to have completed financing activities in early 2024, as evidenced by higher cash balances in Q1 2024 ($115.5 million) that have been steadily drawn down through operational activities. This suggests the company successfully raised capital to fund its ongoing clinical trials. The progression of both ADX-097 and Bempikibart through clinical trials represents the company's primary strategic focus. ADX-097 has completed Phase I trials and is positioned for potential advancement to Phase II studies in complement-mediated diseases. Meanwhile, Bempikibart is actively progressing through Phase II trials for atopic dermatitis and alopecia areata, representing a more advanced stage of clinical development. The company's operational burn rate has remained relatively consistent, suggesting disciplined spending focused on advancing clinical programs rather than expanding into multiple new therapeutic areas or conducting extensive infrastructure investments.
QTTB company profile · for informational purposes only — not investment advice.
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