10-Q Filing

Q32 Bio Inc. CIK: 1661998 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-022819`
Period End Date	20200331
Filing Date	20200507
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	fixx-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 20 Cash Flow Statement 55 Stockholders Equity 22 Comprehensive Income 8

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$143.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.77M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$91.56M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$208.61M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.19M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.40M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$238.33M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$266.58M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	45.21M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$42.72M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	45.14M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$42.57M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	45.21M	shares	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$6.62M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$6.83M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	45.12M	shares	Point-in-time
Restricted cash	`RestrictedCash`	$1.27M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.27M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.27M	USD	Point-in-time
Total assets	`Assets`	$288.79M	USD	Point-in-time
Total assets	`Assets`	$310.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.61M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$7.64M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$6.95M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$15.44M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.33M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$1.31M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$774.00K	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$809.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.45M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$14.82M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$9.54M	USD	Point-in-time
Deferred revenue, net of current portion	`ContractWithCustomerLiabilityNoncurrent`	$29.97M	USD	Point-in-time
Deferred revenue, net of current portion	`ContractWithCustomerLiabilityNoncurrent`	$30.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$52.06M	USD	Point-in-time
Total liabilities	`Liabilities`	$62.25M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value; 200,000,000 shares authorized; 45,212,190 and 45,138,408 shares issued as of March 31, 2020 and December 31, 2019, respectively; and 45,206,066 and 45,116,742 shares outstanding as of March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock, $0.0001 par value; 200,000,000 shares authorized; 45,212,190 and 45,138,408 shares issued as of March 31, 2020 and December 31, 2019, respectively; and 45,206,066 and 45,116,742 shares outstanding as of March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$457.99M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$461.56M	USD	Point-in-time
Accumulated other comprehensive gain (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$183.00K	USD	Point-in-time
Accumulated other comprehensive gain (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-199.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-235.00M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$196.35M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$174.26M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$258.51M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$226.54M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$310.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$288.79M	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Collaboration revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$588.00K	USD	1 Quarter
Collaboration revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$270.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$20.54M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$29.31M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.86M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.77M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$37.08M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$25.39M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-36.49M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-25.12M	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$1.27M	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$1.16M	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$1.27M	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$1.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-35.33M	USD	1 Quarter
Net loss per share-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.78	USD	1 Quarter
Net loss per share-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.64	USD	1 Quarter
Weighted-average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	45.15M	shares	1 Quarter
Weighted-average common shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.38M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-35.33M	USD	1 Quarter
Net loss	`ProfitLoss`	$-23.85M	USD	1 Quarter
Depreciation	`Depreciation`	$1.27M	USD	1 Quarter
Depreciation	`Depreciation`	$1.91M	USD	1 Quarter
Amortization of right-of-use assets	`RightOfUseAssetAmortization`	$221.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.24M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.88M	USD	1 Quarter
Amortization of premium on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$661.00K	USD	1 Quarter
Amortization of premium on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$175.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.09M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.41M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-85.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.84M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.40M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-535.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-92.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-203.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInPrepaidRent`	$-1.30M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-541.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.87M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-25.85M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$84.47M	USD	1 Quarter
Maturities of short-term investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$117.03M	USD	1 Quarter
Maturities of short-term investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$114.60M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.03M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.47M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$19.67M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$115.00M	USD	1 Quarter
Proceeds from issuance of common stock pursuant to employee stock purchase plan	`ProceedsFromStockPlans`	$537.00K	USD	1 Quarter
Proceeds from issuance of common stock pursuant to employee stock purchase plan	`ProceedsFromStockPlans`	$396.00K	USD	1 Quarter
Proceeds from issuance of common stock from option exercises	`ProceedsFromStockOptionsExercised`	$135.00K	USD	1 Quarter
Proceeds from issuance of common stock from option exercises	`ProceedsFromStockOptionsExercised`	$21.00K	USD	1 Quarter
Payment of deferred offering costs	`PaymentsOfStockIssuanceCosts`	$225.00K	USD	1 Quarter
Payment of deferred offering costs	`PaymentsOfStockIssuanceCosts`	$92.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$447.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$325.00K	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$89.60M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.12M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$144.65M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$39.99M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$55.05M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$42.11M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$42.11M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$55.05M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$144.65M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$39.99M	USD	Point-in-time
Reclassification of liability for common stock vested	`ReclassificationOfLiabilityForCommonStockVestedInNoncashTransactions`	$18.00K	USD	1 Quarter
Reclassification of liability for common stock vested	`ReclassificationOfLiabilityForCommonStockVestedInNoncashTransactions`	$12.00K	USD	1 Quarter
Property and equipment additions included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$405.00K	USD	1 Quarter
Property and equipment additions included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$5.27M	USD	1 Quarter
Property and equipment additions included in accrued expenses and other liabilities	`PropertyAndEquipmentAdditionsIncludedInAccruedExpensesAndOtherLiabilities`	$23.00K	USD	1 Quarter
Unrealized gain on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$83.00K	USD	1 Quarter
Unrealized gain on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-202.00K	USD	1 Quarter
Deferred offering costs included in accounts payable and accrued expenses	`DeferredOfferingCostsIncludedInAccountsPayableAndAccruedExpenses`	$77.00K	USD	1 Quarter
Deferred offering costs included in accounts payable and accrued expenses	`DeferredOfferingCostsIncludedInAccountsPayableAndAccruedExpenses`	$174.00K	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$196.35M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$174.26M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$258.51M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$226.54M	USD	Point-in-time
Vesting of common stock from option exercises	`StockIssuedDuringPeriodValueVestingOfCommonStockFromOptionExercise`	$18.00K	USD	1 Quarter
Vesting of common stock from option exercises	`StockIssuedDuringPeriodValueVestingOfCommonStockFromOptionExercise`	$12.00K	USD	1 Quarter
Issuance of common stock from option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$21.00K	USD	1 Quarter
Issuance of common stock from option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$135.00K	USD	1 Quarter
Issuance of common stock from option exercises, Shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	34,311.00	shares	1 Quarter
Issuance of common stock pursuant to employee stock purchase plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$537.00K	USD	1 Quarter
Issuance of common stock pursuant to employee stock purchase plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$396.00K	USD	1 Quarter
Issuance of common stock pursuant to employee stock purchase plan, Shares	`StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans`	28,311.00	shares	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$2.88M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.24M	USD	1 Quarter
Other comprehensive gain (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-202.00K	USD	1 Quarter
Other comprehensive gain (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$83.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-35.33M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$258.51M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$196.35M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$174.26M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$226.54M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-23.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-35.33M	USD	1 Quarter
Change in unrealized gain (loss) on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$83.00K	USD	1 Quarter
Change in unrealized gain (loss) on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-202.00K	USD	1 Quarter
Total other comprehensive gain (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-202.00K	USD	1 Quarter
Total other comprehensive gain (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$83.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-35.53M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-23.77M	USD	1 Quarter

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