Q32 Bio Reports First Quarter 2026 Financial Results and Provides Corporate Update
Rhea-AI Summary
Q32 Bio (Nasdaq: QTTB) reported Q1 2026 results and operational updates on May 5, 2026. Key items: Part B of the SIGNAL-AA Phase 2a trial remains on-track with 36-week topline data expected mid-2026, first patient dosed in the Part B OLE, and Part A OLE complete. Q32 completed a $10.5M registered direct offering and reported $50.8M cash as of March 31, 2026, excluding $14.2M ATM proceeds received after quarter-end; company expects runway into 1H 2028 when combined with guaranteed milestone payments.
Positive
- 36-week topline data readout expected in mid-2026
- First patient dosed in SIGNAL-AA Part B open-label extension
- Completed $10.5 million registered direct offering
- Reported $50.8 million cash as of March 31, 2026
- Company projects financial runway into first half of 2028
Negative
- Net loss of $7.6 million for Q1 2026
- Research and development expenses declined from $7.1M to $3.2M
- Ongoing reliance on ATM proceeds and milestone payments for runway
News Market Reaction – QTTB
In the May 5 session, QTTB gained 1.98%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 10 | Earnings and update | Positive | +17.4% | Q4 2025 results, financing, ADX-097 sale and extended cash runway. |
| Nov 13 | Earnings and update | Positive | -9.1% | Q3 2025 results with completed Part B enrollment and 33 patients. |
| Aug 06 | Earnings and update | Positive | -1.5% | Q2 2025 results, ongoing bempikibart trials, reduced R&D and G&A. |
| May 08 | Earnings and update | Positive | -1.9% | Q1 2025 results with Fast Track status and first dosing in SIGNAL-AA. |
| Mar 11 | Earnings and update | Neutral | -7.8% | Q4 2024 results, encouraging Part A data and higher expenses. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings updates often highlight progress in bempikibart and cash runway, but share reactions have been mixed, with more instances of negative or muted moves than strong positive follow-through.
Over the last year, Q32 Bio’s earnings releases have consistently focused on advancing bempikibart and the SIGNAL-AA program while managing cash runway. Prior updates reported cash balances between $49.0M and $78.0M, with runway generally guided into 2026–2027. Stock reactions have ranged from a 17.45% gain on Q4 2025 results to declines of 7–9% on other quarters. Today’s Q1 2026 report continues themes of cost reduction, financing activity, and staying on track for mid-2026 topline data.
Key Terms
phase 2a medical
open-label extension (OLE) medical
at-the-market (ATM) program financial
registered direct offering financial
severity of alopecia tool (SALT) medical
pharmacokinetic medical
pre-funded warrants financial
restricted stock units financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
-- Bempikibart 36-week topline data readout from Part B of SIGNAL-AA Phase 2a clinical trial on-track for mid-2026 --
-- First patient dosed in SIGNAL-AA Part B open-label extension (OLE) --
-- Completed
-- Cash and cash equivalents of
"In the first quarter of 2026, we made meaningful strides advancing Part B of the SIGNAL-AA Phase 2 clinical trial evaluating bempikibart in patients with AA, and we remain focused on releasing 36-week topline data by mid-year. We continue to be encouraged by the profile of bempikibart in Part B based on pharmacokinetic data and clinical activity observed to-date," said Jodie Morrison, Chief Executive Officer of Q32 Bio. "There is significant demand from patients in Part B for continued dosing after the post-treatment follow-up period, and we are thrilled to announce that the first patient has been dosed in the OLE portion of Part B. Alongside this progress, we raised gross proceeds of
First Quarter 2026 and Recent Business Highlights
- Part B of the SIGNAL-AA Phase 2a clinical trial remains on-track, with 36-week topline data readout expected in mid-2026. The Part B portion of the SIGNAL-AA Phase 2a clinical trial is an open-label clinical trial evaluating bempikibart, a fully human anti-IL-7Rα antibody designed to re-regulate adaptive immune function by blocking IL-7 and TSLP signaling, in 33 patients with severe or very severe AA with a maximum duration of current episode of four years. Total enrollment exceeded the initial target due to patient demand. Patients are treated with bempikibart for 36 weeks, with post-treatment follow-up out to 52 weeks before optional enrollment in the OLE. Dosing includes an initial loading regimen of 200mg of bempikibart dosed weekly for four doses, followed by a maintenance dose of 200mg every-other-week over a 32-week period, for a total dosing period of 36 weeks. Efficacy will be evaluated on the basis of mean percentage change from baseline in Severity of Alopecia Tool (SALT) scores, as well as the proportion of subjects achieving various relative and absolute SALT improvements at week 36, with follow-up through week 52. Encouraging signs of clinical activity are being observed in Part B of the trial. In addition, based on preliminary pharmacokinetic data available to date in the Part B portion of SIGNAL-AA, steady state concentration of drug in patients was observed at least nine weeks earlier as compared to Part A of the clinical trial due to the inclusion of the loading regimen, which may have the potential to induce earlier responsiveness. The trial is intended to support advancement into pivotal trials upon completion, pending review of the results. Q32 Bio expects to report 36-week topline results in mid-2026. After completion of the trial through 52 weeks, eligible patients can enter an open-label extension (OLE) period following the same dosing paradigm as Part B, to enable longer-term follow-up and continued data collection. The first patient has been dosed in the OLE portion of Part B.
- Part A OLE of the SIGNAL-AA Phase 2a clinical trial is complete. Based on the continued emergence of bempikibart data suggesting a remittive effect and durable responses in long-term follow-up from SIGNAL-AA Part A, as well as strong re-consent rates and patient demand for continued dosing, Q32 Bio initiated an OLE in April 2025 for eligible patients that completed Part A to enable longer-term follow-up of patients. The Part A OLE has been completed, and Q32 Bio intends to report findings from the Part A OLE with the Part B 36-week topline results in mid-2026.
- Completed
$10.5 million $3.90 $3.8999 $10.5 million $0.1 million
Financial Results
- Cash and cash equivalents were
$50.8 million $14.2 million - Research and development expenses were
$3.2 million $7.1 million - General and administrative expenses were
$4.5 million $5.1 million - Net loss was
$7.6 million $0.54 $11.0 million $0.90
About Q32 Bio
Q32 Bio is a clinical stage biotechnology company whose science targets potent regulators of the adaptive immune system to re-balance immunity and is focused on developing innovative therapies for alopecia areata and other autoimmune and inflammatory diseases. About 700,000 people in
For more information, visit www.Q32Bio.com.
1National Alopecia Areata Foundation
Availability of Other Information About Q32 Bio
Investors and others should note that Q32 Bio communicates with its investors and the public using its website www.Q32Bio.com, including, but not limited to, Q32 Bio's disclosures, investor presentations and FAQs, Securities and Exchange Commission (the "SEC") filings, press releases, public conference call transcripts and webcast transcripts, as well as on X (formerly Twitter) and LinkedIn. The information that Q32 Bio posts on its website or on X or LinkedIn could be deemed to be material information. As a result, Q32 Bio encourages investors, the media and others interested to review the information that it posts there on a regular basis. The contents of Q32 Bio's website or social media shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended, and other federal securities laws. Any statements contained herein which do not describe historical facts are forward-looking statements, including, among others, Q32 Bio's beliefs, observations, expectations and assumptions regarding the plan, purpose and timing of Part B of the SIGNAL-AA Phase 2a clinical trial and the anticipated timing of its data, the safety, tolerability, clinical activity, durability, potential efficacy and potential benefits of bempikibart including expectations based on the signs observed to date in Part B of the SIGNAL-AA Phase 2a clinical trial, Q32 Bio's expectations and assumptions regarding the timing of reporting the findings from the Part A OLE of the SIGNAL-AA Phase 2a clinical trial, and Q32 Bio's beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, including statements regarding the sufficiency of its cash and cash equivalents to provide financial runway through clinical milestones and into the first half of 2028; which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements.
Forward-looking statements are based on management's current beliefs and assumptions, which are subject to risks and uncertainties and are not guarantees of future performance. Such risks and uncertainties include, among others, the risk that additional data, or the results of ongoing data analyses, may not support Q32 Bio's current beliefs and expectations for bempikibart, including with respect to the durability of clinical responses, the risk that ongoing and future clinical studies, including Part B of the SIGNAL-AA Phase 2a clinical trial, may not be completed by mid-2026 or at all, might be more costly than expected or might not yield anticipated results, that Q32 Bio may use its capital resources sooner than currently anticipated, our expectations regarding the sufficiency of our cash and cash equivalents to provide financial runway and that we may need additional funding to complete clinical studies, which may not be available on favorable terms or at all and such other risks and uncertainties identified in Q32 Bio's periodic, current and other filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2025 and any subsequent filings with the SEC, which are available at the SEC's website at www.sec.gov. Any such risks and uncertainties could materially and adversely affect Q32 Bio's results of operations and its cash flows, which would, in turn, have a significant and adverse impact on Q32 Bio's stock price. Q32 Bio cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Q32 Bio disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
Contacts:
Investors: Brendan Burns
Argot Partners
212.600.1902
Q32Bio@argotpartners.com
Media: David Rosen
Argot Partners
646.461.6387
david.rosen@argotpartners.com
Q32 BIO INC. | ||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||
(in thousands, except share and per share amounts) | ||||
(Unaudited) | ||||
Three Months Ended March 31, | ||||
2026 | 2025 | |||
Operating expenses: | ||||
Research and development | $ 3,218 | $ 7,124 | ||
General and administrative | 4,504 | 5,104 | ||
Total operating expenses | 7,722 | 12,228 | ||
Loss from operations | (7,722) | (12,228) | ||
Other income | 113 | 1,197 | ||
Total other income | 113 | 1,197 | ||
Net loss and comprehensive loss | $ (7,609) | $ (11,031) | ||
Net loss per share—basic and diluted | $ (0.54) | $ (0.90) | ||
Weighted-average common shares—basic and diluted | 14,095,371 | 12,197,615 | ||
Q32 BIO INC. | ||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||
(in thousands) | ||||
March 31, | December 31, | |||
(Unaudited) | ||||
Assets | ||||
Cash and cash equivalents | $ 50,751 | $ 48,297 | ||
Right-of-use asset, operating leases | 4,937 | 5,100 | ||
Restricted cash and restricted cash equivalents | 647 | 647 | ||
Other assets | 7,340 | 7,732 | ||
Total assets | $ 63,675 | $ 61,776 | ||
Liabilities and stockholders' equity | ||||
Accounts payable, accrued expenses and other current liabilities | $ 4,430 | $ 5,111 | ||
Lease liability, net of current portion | 4,754 | 4,943 | ||
Venture debt | 8,178 | 9,708 | ||
Stockholders' equity | 46,313 | 42,014 | ||
Total liabilities and stockholders' equity | $ 63,675 | $ 61,776 | ||
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SOURCE Q32 Bio