Gold prices hover near 6-week high amid softer dollar, Fed rate cut bets
Investing.com -- Q32 Bio Inc (NASDAQ:QTTB) stock surged 94% in premarket trading Monday after the clinical-stage biotechnology company announced the sale of its Phase 2 complement inhibitor, ADX-097, to Akebia Therapeutics (NASDAQ:AKBA).
The transaction provides Q32 Bio with $12 million in upfront and guaranteed near-term milestone payments, including $7 million received at signing. The company is eligible to receive up to a total of $592 million upon achievement of certain development, regulatory and commercial milestones, plus tiered royalties up to a mid-teen percent of annual net sales.
Q32 Bio said the asset sale will extend its cash runway into the second half of 2027, allowing the company to focus on advancing bempikibart for alopecia areata. The company expects to share topline data from Part B of the SIGNAL-AA Phase 2a trial in mid-2026.
"This transaction strengthens our cash position through additional non-dilutive funding, extending our runway into the second half of 2027, as we remain focused on advancing bempikibart for patients with AA, an indication with significant unmet medical need," said Jodie Morrison, Chief Executive Officer of Q32 Bio.
Under the agreement, Akebia acquires ADX-097 and will be responsible for future development and commercialization. Q32 Bio retains its wholly owned tissue-targeted complement inhibitor platform, including ADX-096 and other early-stage assets, and continues to evaluate strategic options for these programs.
ADX-097 is a humanized anti-C3d Factor H monoclonal antibody fusion protein designed to inhibit complement activation through a tissue-targeted mechanism, with potential applications in kidney, autoimmune, vascular, and skin diseases.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.