Business
Q32 Bio Reports Second Quarter 2024 Financial Results and Provides Corporate Update
-- Completed enrollment in bempikibart atopic dermatitis (AD) Phase 2 clinical trial and increased trial size to 121 patients based on Part B patient demand
About this update from Q32 Bio Inc.
[{"type":"text","content":"-- Completed enrollment in bempikibart atopic dermatitis (AD) Phase 2 clinical trial and increased trial size to 121 patients based on Part B patient demand -- \n-- Bempikibart Phase 2 topline results in AD and alopecia areata (AA) remain on-track for Q4'24 --\n-- Enrolling patients in the Phase 2 basket trial of ADX-097 for complement mediated renal diseases; initial open-label data expected by year-end 2024 and topline results in 2H'25 --\n-- Cash, cash equivalents, and short-term investments of $107.6 million as of June 30, 2024, expected to provide financial runway through four Phase 2 clinical milestones and into mid-2026 --\nWALTHAM, Mass., Aug. 8, 2024 /PRNewswire/ -- Q32 Bio Inc. (Nasdaq: QTTB) (\"Q32 Bio\"), a clinical stage biotechnology company focused on developing biologic therapeutics to restore immune homeostasis, today reported financial results for the quarter ended June 30, 2024, and provided recent corporate updates.\n\"Q32 Bio made strong progress advancing both bempikibart and ADX-097 in Phase 2 clinical trials,\" said Jodie Morrison, Chief Executive Officer of Q32 Bio. \"We completed enrollment in the Phase 2 clinical trial of bempikibart in AD, exceeding our initial enrollment target due to strong patient demand, and we look forward to sharing topline results from the Phase 2 clinical trials in AD and AA in the fourth quarter of 2024.\"\n\"Additionally, we are enrolling patients in our Phase 2 basket trial of ADX-097 for complement mediated renal diseases. We expect to share initial data from this trial by the end of this year, with topline results expected in the second half of 2025. Plans remain on-track to further expand development of ADX-097 with the initiation of a second Phase 2 clinical trial in ANCA-Associated Vasculitis in the first half of next year, with topline results expected in the second half of 2025.\"\nSecond Quarter 2024 and Recent Business Highlights \nCompleted enrollment in the ongoing SIGNAL-AD Phase 2 clinical trial of bempikibart in AD and increased the trial size to 121 patients based on patient demand, with topline results remaining on-track to be released in the fourth quarter of 2024. Bempikibart is a fully human anti-IL-7Rα antibody that is designed to re-regulate adaptive immune function by blocking IL-7 and TSLP signaling, both of which contribute to inflammation and injury...