10-Q Filing

Q32 Bio Inc. CIK: 1661998 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-024934`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	fixx-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 20 Cash Flow Statement 55 Stockholders Equity 21 Comprehensive Income 8

Balance Sheet 67 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$217.43M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$104.42M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$143.37M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	-	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
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$84.23M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.13M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$191.65M	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`	$219.56M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	50.49M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	50.27M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$36.15M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$37.00M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	50.49M	shares	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$5.90M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	50.27M	shares	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$5.62M	USD	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`	$263.74M	USD	Point-in-time
Total assets	`Assets`	$234.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.72M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$9.80M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$5.42M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.32M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.50M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$5.18M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$5.63M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.66M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$12.94M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$12.50M	USD	Point-in-time
Deferred revenue, net of current portion	`ContractWithCustomerLiabilityNoncurrent`	$32.14M	USD	Point-in-time
Deferred revenue, net of current portion	`ContractWithCustomerLiabilityNoncurrent`	$3.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.87M	USD	Point-in-time
Total liabilities	`Liabilities`	$67.74M	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 at March 31, 2021 and December 31, 2020, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value; 200,000,000 shares authorized; 50,487,649 and 50,268,666 shares issued as of March 31, 2021 and December 31, 2020, respectively; and 50,485,569 and 50,265,575 shares outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, $0.0001 par value; 200,000,000 shares authorized; 50,487,649 and 50,268,666 shares issued as of March 31, 2021 and December 31, 2020, respectively; and 50,485,569 and 50,265,575 shares outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$524.36M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$530.29M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-329.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-328.37M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$200.83M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$226.54M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$258.51M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$196.00M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$234.70M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$263.74M	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`	$29.30M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$21.75M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$29.31M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.66M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.77M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$30.42M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$37.08M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.11M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-36.49M	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$1.16M	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$38.00K	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$38.00K	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$1.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-35.33M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.07M	USD	1 Quarter
Net loss per share-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.78	USD	1 Quarter
Net loss per share-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	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`	50.36M	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`	$-1.07M	USD	1 Quarter
Depreciation	`Depreciation`	$2.08M	USD	1 Quarter
Depreciation	`Depreciation`	$1.91M	USD	1 Quarter
Noncash lease expense	`NonCashLeaseExpense`	$221.00K	USD	1 Quarter
Noncash lease expense	`NonCashLeaseExpense`	$279.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.88M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.88M	USD	1 Quarter
Accretion of discount (amortization of premium) on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-162.00K	USD	1 Quarter
Accretion of discount (amortization of premium) on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$175.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-6.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$870.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.09M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-100.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.84M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-535.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-4.54M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-29.03M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-203.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-621.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-541.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-29.82M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-25.85M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$84.42M	USD	1 Quarter
Maturities of short-term investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$117.03M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$817.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.03M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$115.00M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-85.23M	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`	$446.00K	USD	1 Quarter
Proceeds from issuance of common stock from option exercises	`ProceedsFromStockOptionsExercised`	$143.00K	USD	1 Quarter
Proceeds from issuance of common stock from option exercises	`ProceedsFromStockOptionsExercised`	$135.00K	USD	1 Quarter
Payment of deferred offering costs	`PaymentsOfStockIssuanceCosts`	$225.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$447.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.04M	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`	$-113.02M	USD	1 Quarter
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`	$144.65M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$105.69M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$218.71M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$105.69M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$218.71M	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
Reclassification of liability for common stock vested	`ReclassificationOfLiabilityForCommonStockVestedInNoncashTransactions`	$12.00K	USD	1 Quarter
Reclassification of liability for common stock vested	`ReclassificationOfLiabilityForCommonStockVestedInNoncashTransactions`	$4.00K	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`	$367.00K	USD	1 Quarter
Property and equipment additions included in accrued expenses and other liabilities	`PropertyAndEquipmentAdditionsIncludedInAccruedExpensesAndOtherLiabilities`	$23.00K	USD	1 Quarter
Property and equipment additions included in accrued expenses and other liabilities	`PropertyAndEquipmentAdditionsIncludedInAccruedExpensesAndOtherLiabilities`	$164.00K	USD	1 Quarter
Unrealized loss on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-202.00K	USD	1 Quarter
Unrealized loss on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-23.00K	USD	1 Quarter
Deferred offering costs included in accounts payable and accrued expenses	`DeferredOfferingCostsIncludedInAccountsPayableAndAccruedExpenses`	$77.00K	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$200.83M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$226.54M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$258.51M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$196.00M	USD	Point-in-time
Vesting of common stock from option exercises	`StockIssuedDuringPeriodValueVestingOfCommonStockFromOptionExercise`	$12.00K	USD	1 Quarter
Vesting of common stock from option exercises	`StockIssuedDuringPeriodValueVestingOfCommonStockFromOptionExercise`	$4.00K	USD	1 Quarter
Issuance of common stock from option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$135.00K	USD	1 Quarter
Issuance of common stock from option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$143.00K	USD	1 Quarter
Issuance of common stock from option exercises, Shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	55,277.00	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`	$446.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$2.88M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$3.88M	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-23.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-202.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-35.33M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.07M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$258.51M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$200.83M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$226.54M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$196.00M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-35.33M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.07M	USD	1 Quarter
Change in unrealized gain (loss) on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-23.00K	USD	1 Quarter
Change in unrealized gain (loss) on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-202.00K	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-23.00K	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-202.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-35.53M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.10M	USD	1 Quarter

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