Waltham, Massachusetts-based Q32 Bio Inc. (Nasdaq: QTTB) announced a USD 55 million private placement of common stock and pre-funded warrants to fund the ongoing Phase II development of bempikibart (ADX-914) in alopecia areata, with topline data from the SIGNAL-AA Part B study expected in mid-2026.
The private placement comprises 6,725,000 shares of common stock priced at USD 8.00 per share and pre-funded warrants to purchase 150,000 additional shares at USD 7.9999 per warrant, reflecting the USD 8.00 share price less the USD 0.0001 exercise price. The pre-funded warrants are immediately exercisable and expire only upon full exercise. BVF Partners L.P. led the transaction, with participation from RA Capital Management, OrbiMed, and Atlas Venture. The press release describes the participants collectively as new and existing institutional and accredited investors but does not specify which are new versus existing on an individual basis, and no company insider participation is disclosed. Morgan Stanley acted as lead placement agent and Oppenheimer & Co. served as co-placement agent. The transaction was expected to close on May 28, 2026, subject to customary closing conditions.
Q32 Bio is a clinical-stage biotech focused on autoimmune and inflammatory diseases. Its lead asset, bempikibart, is a fully human anti-IL-7Rα antibody that blocks IL-7 and TSLP signaling to re-regulate adaptive immune function. The company is advancing bempikibart in two Phase IIa studies: SIGNAL-AA in alopecia areata and SIGNAL-AD in atopic dermatitis. SIGNAL-AA Part B, which enrolled 33 patients, has completed enrollment, and Q32 Bio has guided to topline data in mid-2026, with the registry listing study completion as September 2026. Bempikibart holds FDA Fast Track designation in alopecia areata, a condition affecting approximately 700,000 people in the US with limited available treatments.
Q32 Bio also holds ADX-097, a humanized anti-C3d monoclonal antibody fusion protein designed as a tissue-targeted complement inhibitor. The company disclosed positive Phase 1 results for ADX-097 at ASN Kidney Week in October 2024, though no active Phase 2 registry record is currently visible for the program following the withdrawal of a renal basket study.