**Q32 Bio Inc. Reports Year-End Results, Highlights Bempikibart Program**
Q32 Bio Inc., a clinical-stage biotechnology company, announced its year-end results, reporting a net income of $29.8 million for the year ended December 31, 2025, a significant shift from the $47.7 million net loss reported for the year ended December 31, 2024. This turnaround was primarily attributed to the recognition of $53.7 million in collaboration arrangement revenue related to an amendment with Amgen, which terminated previous milestone payment obligations. The company's operating expenses totaled $36.8 million, a decrease from $66.1 million in the prior year, reflecting a strategic restructuring and focus on its lead program.
Research and development expenses decreased to $19.2 million from $48.1 million, driven by reduced clinical costs and manufacturing expenses for the bempikibart program, as well as the discontinuation of the ADX-097 program following its asset sale to Akebia Therapeutics, Inc. General and administrative expenses remained relatively stable at $17.7 million, compared to $18.0 million in the previous year. The company also reported a gain on the sale of the ADX-097 asset of $11.7 million, contributing to the overall positive financial outcome.
Strategic developments included the ADX-097 Asset Sale to Akebia, generating an upfront payment of $7.0 million and eligibility for up to $580 million in milestone payments and tiered royalties on future sales. The company is now focusing on advancing bempikibart, its lead product candidate, for the treatment of alopecia areata (AA). Bempikibart is currently in Phase 2a clinical trials, with topline data from the SIGNAL-AA Part B trial expected in mid-2026. The FDA granted Fast Track designation to bempikibart for the treatment of AA in April 2025.
As of December 31, 2025, Q32 Bio Inc. held $48.3 million in cash and cash equivalents. The company believes that its existing cash resources, combined with proceeds from a recent registered direct offering and guaranteed near-term milestone payments from the ADX-097 Asset Sale, will be sufficient to fund operations into the fourth quarter of 2027. The company had 24 full-time employees as of December 31, 2025, with 13 engaged in research and development and 11 in general management and administration. The company's principal office is located in Waltham, Massachusetts, where it leases approximately 15,771 square feet of office space.
About Q32 Bio Inc.
Q32 Bio Inc. is a biotechnology company developing antibody-based therapeutics targeting immune pathways involved in autoimmune and inflammatory diseases. Its pipeline includes bempikibart, an IL-7Rα antagonist for alopecia areata and atopic dermatitis, and ADX-097, a tissue-targeted complement inhibitor for autoimmune conditions. The company focuses on innovative biologics, leveraging proprietary patents, strategic collaborations, and a clinical-stage model to address unmet medical needs in immune dysregulation.
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