Homology plummets on merger with privately held Q32 Bio

Q32 Bio

16/11/2023 15:32

** Shares of gene editing co Homology Medicines  FIXX.O 
fall 37% to 55 cents
    ** Co says it is merging with privately held biotechnology
firm, Q32 Bio, in an all-stock deal
    ** Following deal close, Q32 Bio equity holders are expected
to own about 75% of the combined co
    ** Combined company to focus on advancing Q32 Bio's
experimental drugs for the treatment of autoimmune and
inflammatory diseases
    ** Combined co to operate as Q32 Bio Inc and trade under the
new ticker QTTB on the Nasdaq; it will have about $115 mln at
close, providing cash runway to mid-2026
    ** Including session's move, stock down ~51.5% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))