Q32 Bio Inc. reported its financial results for the third quarter ended September 30, 2024, announcing a net loss of $17.595 million. This compares to a net loss of $14.031 million for the same period in 2023. The company's net loss per share was $1.46 for the quarter.
As a clinical-stage biotechnology company, Q32 Bio did not report any collaboration arrangement revenue for the quarter, a decrease from $1.859 million in Q3 2023. Operating expenses totaled $18.814 million, an increase from $9.657 million in the prior year, driven by higher research and development expenses of $14.346 million. General and administrative expenses also increased to $4.468 million.
The company held $89.1 million in cash and cash equivalents as of September 30, 2024. Management stated this capital is expected to provide a financial runway through four Phase 2 clinical milestones and into mid-2026. Q32 Bio confirmed that topline results for bempikibart in atopic dermatitis (AD) and alopecia areata (AA) remain on track for Q4 2024, with both expected in December.
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