10-Q Filing

Q32 Bio Inc. CIK: 1661998 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-021456`
Period End Date	20180630
Filing Date	20180813
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	fixx-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 39 Cash Flow Statement 45 Comprehensive Income 12

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$94.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.43M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$160.55M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$78.08M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.94M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.07M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$131.60M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$261.58M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.94M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.15M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$1.00M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCash`	$1.79M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.77M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total assets	`Assets`	$270.31M	USD	Point-in-time
Total assets	`Assets`	$137.53M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	170.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.47M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.90M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.02M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	37.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.64M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.54M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$2.36M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$2.86M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$122.60K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$3.34M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$3.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.86M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$290.92K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$2.89M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$30.07M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$29.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$39.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$43.52M	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total convertible preferred stock	`TemporaryEquityCarryingAmountAttributableToParent`	$137.76M	USD	Point-in-time
Preferred stock, $0.0001 par value, 10,000,000 shares authorized as of June 30, 2018 and no shares authorized as of December 31, 2017; no shares issued and outstanding at June 30, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 10,000,000 shares authorized as of June 30, 2018 and no shares authorized as of December 31, 2017; no shares issued and outstanding at June 30, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value; 200,000,000 and 170,000,000 shares authorized as of June 30, 2018 and December 31, 2017, respectively; 37,474,649 and 2,902,109 shares issued as of June 30, 2018 and December 31, 2017, respectively; and 37,254,902 and 2,637,011 shares outstanding as of June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$3.73K	USD	Point-in-time
Common stock, $0.0001 par value; 200,000,000 and 170,000,000 shares authorized as of June 30, 2018 and December 31, 2017, respectively; 37,474,649 and 2,902,109 shares issued as of June 30, 2018 and December 31, 2017, respectively; and 37,254,902 and 2,637,011 shares outstanding as of June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$264.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$290.44M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$799.86K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-48.65K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-73.31K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-40.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-63.60M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-39.45M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$226.80M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$270.31M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$137.53M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Collaboration revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.75M	USD	2 Qtrs
Collaboration revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$926.48K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.29M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$18.29M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$6.86M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$4.06M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.87M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.98M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.53M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.36M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$26.64M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$6.04M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$14.82M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.73M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-10.73M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-13.89M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.04M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-24.89M	USD	2 Qtrs
Change in fair value of convertible preferred stock tranche liability	`IncreaseDecreaseInFairMarketValueOfConvertiblePreferredStockTrancheLiability`	$876.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeNonoperating`	$1.48M	USD	2 Qtrs
Interest income	`InvestmentIncomeNonoperating`	$996.49K	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$35.77K	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$48.49K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-827.51K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$35.77K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$996.49K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$1.48M	USD	2 Qtrs
Net loss and net loss attributable to common stockholders-basic and diluted	`NetIncomeLoss`	$-6.00M	USD	1 Quarter
Net loss and net loss attributable to common stockholders-basic and diluted	`NetIncomeLoss`	$-23.42M	USD	2 Qtrs
Net loss and net loss attributable to common stockholders-basic and diluted	`NetIncomeLoss`	$-12.89M	USD	1 Quarter
Net loss and net loss attributable to common stockholders-basic and diluted	`NetIncomeLoss`	$-11.56M	USD	2 Qtrs
Net loss per share attributable to common stockholders-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.19	USD	2 Qtrs
Net loss per share attributable to common stockholders-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.35	USD	1 Quarter
Net loss per share attributable to common stockholders-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-4.89	USD	2 Qtrs
Net loss per share attributable to common stockholders-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-2.61	USD	1 Quarter
Weighted-average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	36.86M	shares	1 Quarter
Weighted-average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.30M	shares	1 Quarter
Weighted-average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.61M	shares	2 Qtrs
Weighted-average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.37M	shares	2 Qtrs

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-23.42M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-11.56M	USD	2 Qtrs
Depreciation	`Depreciation`	$293.67K	USD	2 Qtrs
Depreciation	`Depreciation`	$457.80K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$58.26K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$949.19K	USD	2 Qtrs
Accretion on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-110.79K	USD	2 Qtrs
Change in fair value associated with convertible preferred stock tranche liability	`IncreaseDecreaseInFairMarketValueOfConvertiblePreferredStockTrancheLiability`	$876.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$491.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.13M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.57M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$148.59K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$355.18K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$409.42K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-163.47K	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInPrepaidRent`	$-2.48M	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInPrepaidRent`	$-142.50K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.12M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-20.79M	USD	2 Qtrs
Purchases of short-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$143.77M	USD	2 Qtrs
Maturities of short-term investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$61.22M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.18M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.32M	USD	2 Qtrs
Changes in restricted cash	`IncreaseDecreaseInRestrictedCash`	$17.38K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.32M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-86.75M	USD	2 Qtrs
Proceeds from issuance of common stock in initial public offering, net of discounts and issuance costs	`ProceedsFromIssuanceInitialPublicOffering`	$150.84M	USD	2 Qtrs
Proceeds from issuance of common stock from option exercises	`ProceedsFromStockOptionsExercised`	$85.30K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$20.48M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$150.93M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$43.39M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.04M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.43M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$94.96M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.39M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$51.57M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$51.57M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.39M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$94.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.43M	USD	Point-in-time
Reclassification of liability for common stock vested	`ReclassificationOfLiabilityForCommonStockVestedInNoncashTransactions`	$20.61K	USD	2 Qtrs
Reclassification of liability for common stock vested	`ReclassificationOfLiabilityForCommonStockVestedInNoncashTransactions`	$5.75K	USD	2 Qtrs
Property and equipment additions included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$229.51K	USD	2 Qtrs
Property and equipment additions included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$146.74K	USD	2 Qtrs
Reclassification of tranche liability upon issuance of convertible preferred stock	`FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3`	$5.12M	USD	2 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-23.42M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-12.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.56M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-6.00M	USD	1 Quarter
Change in unrealized gain on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$24.66K	USD	2 Qtrs
Change in unrealized gain on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$37.52K	USD	1 Quarter
Total other comprehensive gain	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$24.66K	USD	2 Qtrs
Total other comprehensive gain	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$37.52K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-12.86M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-11.56M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.00M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-23.39M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.