10-Q Filing

Q32 Bio Inc. CIK: 1661998 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-029297`
Period End Date	20180930
Filing Date	20181113
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	fixx-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 39 Cash Flow Statement 49 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`	$97.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.04M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$201.51M	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`	$8.32M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$245.87M	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
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$20.74M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.15M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	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 issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCash`	$1.79M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCash`	$1.77M	USD	Point-in-time
Total assets	`Assets`	$268.40M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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, 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`	37.49M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.90M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	37.31M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.54M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.64M	shares	Point-in-time
Accrued expenses and other liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$3.85M	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`	$3.61M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$3.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.57M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$7.32M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$290.92K	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$30.07M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$29.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$39.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$55.64M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`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 September 30, 2018 and no shares authorized as of December 31, 2017; no shares issued and outstanding at September 30, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 10,000,000 shares authorized as of September 30, 2018 and no shares authorized as of December 31, 2017; no shares issued and outstanding at September 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 September 30, 2018 and December 31, 2017, respectively; 37,494,061 and 2,902,109 shares issued as of September 30, 2018 and December 31, 2017, respectively; and 37,310,063 and 2,637,011 shares outstanding as of September 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 September 30, 2018 and December 31, 2017, respectively; 37,494,061 and 2,902,109 shares issued as of September 30, 2018 and December 31, 2017, respectively; and 37,310,063 and 2,637,011 shares outstanding as of September 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$264.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$799.86K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$291.17M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-20.88K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-73.31K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-78.39M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-40.18M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-39.45M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$212.76M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$137.53M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$268.40M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Collaboration revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.70M	USD	3 Qtrs
Collaboration revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$954.15K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$31.67M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$11.80M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$4.95M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$13.39M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.72M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.59M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.84M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.21M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$17.39M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$43.88M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$6.66M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$17.24M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.66M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-17.39M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-16.28M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-41.18M	USD	3 Qtrs
Change in fair value of convertible preferred stock tranche liability	`IncreaseDecreaseInFairMarketValueOfConvertiblePreferredStockTrancheLiability`	$876.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeNonoperating`	$137.20K	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$1.49M	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$185.69K	USD	3 Qtrs
Interest income	`InvestmentIncomeNonoperating`	$2.96M	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-690.31K	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$2.96M	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$137.20K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$1.49M	USD	1 Quarter
Net loss and net loss attributable to common stockholders-basic and diluted	`NetIncomeLoss`	$-6.53M	USD	1 Quarter
Net loss and net loss attributable to common stockholders-basic and diluted	`NetIncomeLoss`	$-38.21M	USD	3 Qtrs
Net loss and net loss attributable to common stockholders-basic and diluted	`NetIncomeLoss`	$-14.80M	USD	1 Quarter
Net loss and net loss attributable to common stockholders-basic and diluted	`NetIncomeLoss`	$-18.09M	USD	3 Qtrs
Net loss per share attributable to common stockholders-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-7.43	USD	3 Qtrs
Net loss per share attributable to common stockholders-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.48	USD	3 Qtrs
Net loss per share attributable to common stockholders-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-2.78	USD	1 Quarter
Net loss per share attributable to common stockholders-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.40	USD	1 Quarter
Weighted-average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.27M	shares	1 Quarter
Weighted-average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.35M	shares	1 Quarter
Weighted-average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.43M	shares	3 Qtrs
Weighted-average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.85M	shares	3 Qtrs

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-18.09M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-38.21M	USD	3 Qtrs
Depreciation	`Depreciation`	$300.00K	USD	1 Quarter
Depreciation	`Depreciation`	$483.39K	USD	3 Qtrs
Depreciation	`Depreciation`	$725.83K	USD	3 Qtrs
Depreciation	`Depreciation`	$200.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$116.14K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$1.67M	USD	3 Qtrs
Accretion on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$389.43K	USD	3 Qtrs
Change in fair value associated with convertible preferred stock tranche liability	`IncreaseDecreaseInFairMarketValueOfConvertiblePreferredStockTrancheLiability`	$876.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.38M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$267.26K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$531.36K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-571.19K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.83M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$653.95K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-61.30K	USD	3 Qtrs
Deferred rent	`IncreaseDecreaseInPrepaidRent`	$-122.55K	USD	3 Qtrs
Deferred rent	`IncreaseDecreaseInPrepaidRent`	$-6.91M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-15.57M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-34.48M	USD	3 Qtrs
Purchases of short-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$232.46M	USD	3 Qtrs
Maturities of short-term investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$109.48M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.62M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.01M	USD	3 Qtrs
Changes in restricted cash	`IncreaseDecreaseInRestrictedCash`	$17.38K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.62M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-132.01M	USD	3 Qtrs
Proceeds from issuance of common stock in initial public offering, net of discounts and issuance costs	`ProceedsFromIssuanceInitialPublicOffering`	$150.84M	USD	3 Qtrs
Proceeds from issuance of common stock from option exercises	`ProceedsFromStockOptionsExercised`	$45.21K	USD	3 Qtrs
Proceeds from issuance of restricted common stock	`ProceedsFromIssuanceOfRestrictedCommonStock`	$64.50K	USD	3 Qtrs
Repurchase of unvested common stock	`RepurchaseOfUnvestedCommonStock`	$17.47K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$150.95M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$103.57M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$86.38M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-15.54M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.04M	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, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$97.77M	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`	$97.77M	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`	$36.04M	USD	Point-in-time
Reclassification of liability for common stock vested	`ReclassificationOfLiabilityForCommonStockVestedInNoncashTransactions`	$56.99K	USD	3 Qtrs
Reclassification of liability for common stock vested	`ReclassificationOfLiabilityForCommonStockVestedInNoncashTransactions`	$20.61K	USD	3 Qtrs
Property and equipment additions included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$137.09K	USD	3 Qtrs
Property and equipment additions included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$9.47M	USD	3 Qtrs
Reclassification of tranche liability upon issuance of convertible preferred stock	`FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3`	$5.12M	USD	3 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-38.21M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-14.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-18.09M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-6.53M	USD	1 Quarter
Change in unrealized gain on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$52.43K	USD	3 Qtrs
Change in unrealized gain on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$27.77K	USD	1 Quarter
Total other comprehensive gain	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$27.77K	USD	1 Quarter
Total other comprehensive gain	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$52.43K	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.53M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-14.77M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-38.16M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-18.09M	USD	3 Qtrs

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