Q32 Bio Q3 net loss widens on higher R&D and admin costs

Overview

• US biotech firm's Q3 net loss widened yr/yr on higher R&D and admin expenses

• Company ended Q3 with $289.6 mln in cash after $200 mln public offering in July

• Q32 Bio advanced bempikibart clinical program and made key leadership appointments

Outlook

• Q32 Bio expects to start a registration-directed bempikibart program in severe AA in 1H2027

• Company anticipates data from SIGNAL-AA Part B open-label extension in 2H2027

• Q32 Bio says cash and equivalents expected to fund operations through planned Phase 3 topline results

Result Drivers

• HIGHER R&D COSTS - Co said increased research and development expenses were mainly due to higher clinical and manufacturing costs for bempikibart and preclinical costs for ADX-914-XL

• HIGHER ADMIN COSTS - Co attributed increased general and administrative expenses to higher stock-based compensation and other employee-related costs

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Q32 Bio Inc. is $38.00, about 333.8% above its November 3 closing price of $8.76

Reuters Recommended Reads

• Nov 2 - Lightbridge Q3 net loss widens on higher R&D, administrative costs

• Nov 3 - Beam Therapeutics posts wider than expected Q3 net loss as revenue drops

• Nov 3 - Spyre Therapeutics Q3 net loss widens more than expected on higher trial costs

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)