Q32 Bio skyrockets as it sells complement inhibitor ADX-097

Shares of US clinical-stage biotech Q32 Bio (Nasdaq: QTTB) were up a massive 150% at $5.48 by mid-morning after it revealed that it has sold its Phase II complement inhibitor, ADX-097, to Akebia Therapeutics, Inc. (Nasdaq: AKBA).

The company is focused on developing innovative therapies for alopecia areata (AA) and other autoimmune and inflammatory diseases

“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. We believe bempikibart has tremendous potential to transform the AA treatment paradigm and we look forward to sharing top-line data from Part B of the SIGNAL-AA Phase IIa trial, which remains on-track for mid-2026,” said Jodie Morrison, chief executive of Q32 Bio, adding: “We are pleased to transition ownership and continued development of ADX-097 to Akebia, a company focused on developing and commercializing therapies for kidney disease.”