Q32 Bio Inc. (NASDAQ:QTTB) stock is trading higher on Monday, with a session volume of 70.56 million compared to the average volume of 217.704 thousand as per data from Benzinga Pro.
Q32 Bio on Monday sold its Phase 2 complement inhibitor, ADX-097, to Akebia Therapeutics Inc. (NASDAQ:AKBA).
ADX-097, the lead product candidate from Q32 Bio’s tissue-targeted complement inhibitor platform, is a humanized anti-C3d Factor H monoclonal antibody (“mAb”) fusion protein.
Also Read: FDA Pushback Prompts Akebia To Drop Broad Label Pursuit For Kidney Disease Drug
About ADX-097 Drug
ADX-097 is designed to inhibit complement activation—an integral part of the innate immune system—through a novel, tissue-targeted mechanism with potential in a range of indications associated with C3d deposition, including kidney, autoimmune, vascular, and skin diseases.
Beyond ADX-097, discovery and earlier development efforts include ADX-096, a C3d mAb – CR1 fusion protein with preclinical data supportive of its use in ophthalmologic indications as well as potential utility in a broad range of other indications, and C3d mAb fusions and nanobodies designed for tissue-targeted complement inhibition.
Q32 Bio retains the rights to its wholly owned tissue-targeted complement inhibitor platform, including ADX-096 and other remaining early-stage assets, and is continuing to evaluate strategic options for these programs.
What Next?
Akebia has acquired ADX-097 and will be responsible for future development and commercialization.
Under the terms of the agreement, Q32 Bio will receive $12 million in upfront payments and a near-term milestone, which includes $7 million received at signing, $3 million after six months, and $2 million payable upon the earlier of the achievement of a milestone or the end of 2026.
These payments, as well as potential development, regulatory, and commercial milestones, total up to $592 million.
Q32 Bio is also eligible to receive tiered royalties on potential future sales of ADX-097, ranging from low single-digit to mid-teen percentages.
Q32 Bio now expects its cash and cash equivalents, together with the upfront payments and near-term milestones from the sale of ADX-097, to fund operations into the second half of 2027.
QTTB Price Action: Q32 Bio shares were up by 115.07% at $4.71 at the time of publication on Monday, according to Benzinga Pro data.
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