Q32 Bio Inc. reported financial results for the first quarter ended March 31, 2025, announcing a net loss of $11.031 million. This compares to a net income of $1.029 million in Q1 2024, which included a noncash gain of $15.890 million from the change in fair value of convertible notes. The net loss per share was $0.90 for the quarter.
Research and development expenses decreased to $7.124 million in Q1 2025 from $9.841 million in Q1 2024, reflecting the company's strategic restructuring and focus on bempikibart. General and administrative expenses increased slightly to $5.104 million from $5.002 million in the prior year. Total operating expenses decreased to $12.228 million from $14.843 million.
As of March 31, 2025, Q32 Bio held $65.5 million in cash and cash equivalents. Management expects this capital to provide a financial runway into the second half of 2026. The company highlighted recent milestones, including the FDA Fast Track designation for bempikibart in AA and the dosing of first patients in both Part B and the Part A OLE of the SIGNAL-AA Phase 2a clinical trial.
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