Q32 Bio rises after $200 mln equity raise for hair-loss drug

Q32 Bio

15/07/2026 11:38

** Shares of Q32 Bio QTTB.O up 1.6% premarket on Weds to $18.75 after $200 mln follow-on priced
** Waltham, Massachusetts-based biotech late Tues sold ~11 mln shares, including pre-funded warrants, at $18.25
** QTTB shares soared 91% to close at $21.38 on Mon after co said its hair-loss drug, bempikibart, showed hair regrowth in mid-stage study
** Shares fell nearly 14% to finish at $18.46 on Tues
** Co intends to use net proceeds from offering for working capital, research-related expenses, clinical development and commercialization efforts including for advancement of bempikibart into future clinical trials
** It has ~23.7 mln shares outstanding, per the prospectus
** Morgan Stanley, Jefferies and Cantor Fitzgerald joint bookrunners for offering
** Through Tues, QTTB shares have surged more than fivefold YTD
** All 5 brokerages covering the stock are bullish; median PT $38, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))