Q32 Bio (QTTB) — Stock, Pipeline & Market Cap

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QTTB · Stock Price

USD 5.44-1.24 (-18.56%)

Market Cap: $89.9M

Historical price data

Market Cap: $89.9MPipeline: 4 drugsFounded: 2019Employees: 11-50HQ: Cambridge, United States

Sector Ranking#166 in Biologics / Biosimilars #47 in Immunotherapy / Immuno-Oncology

Overview

Q32 Bio's mission is to transform patient lives by rebalancing the immune system through targeted modulation of innate and adaptive immune pathways. The company has achieved Fast Track designation for its lead candidate, bempikibart, in alopecia areata and is advancing a Phase 2a trial. Its strategy leverages a dual-pronged approach: advancing its adaptive immune modulator in high-need autoimmune indications and developing a next-generation platform for tissue-targeted complement inhibition.

Autoimmune DiseasesInflammatory Diseases

Technology Platform

Dual-platform approach: 1) Adaptive immune modulation via IL-7Rα blockade to inhibit IL-7 and TSLP signaling, and 2) a discovery platform for tissue-targeted complement inhibitors using C3d-fusion proteins and nanobodies.

Pipeline

4

4 drugs in pipeline

Drug	Indication	Stage
ADX-097	IgA Nephropathy	Phase 2
ADX-914 + Placebo	Atopic Dermatitis	Phase 2
bempikibart (ADX-914)	Alopecia Areata	Phase 2
ADX-914 + Placebo + ADX-914 + Placebo	Safety Issues	Phase 1

Funding History

3

Total raised:$216M

IPO$110MUndisclosedNov 9, 2023

Series B$60MOrbiMedApr 15, 2022

Series A$46MAbingworthOct 15, 2020

Opportunities

The alopecia areata market, validated by JAK inhibitors, presents a multi-billion dollar opportunity for a targeted therapy with a potentially superior safety profile.

The novel tissue-targeted complement platform could address a vast array of complement-mediated diseases with high unmet need, offering a best-in-class approach to localized inhibition.

Risk Factors

Clinical failure of lead asset bempikibart is the primary risk, alongside intense competition from established JAK inhibitors in alopecia areata.

The company's pre-revenue status necessitates future capital raises, risking dilution, and its novel complement platform remains unproven in humans.

Competitive Landscape

In alopecia areata, bempikibart faces direct competition from approved JAK inhibitors (Olumiant, Litfulo) and other mechanisms in development; differentiation hinges on safety. In complement, the platform competes with large pharma's systemic inhibitors (Soliris, Ultomiris) and other targeted approaches, competing on the novel tissue-homing mechanism.