aibioQ32 Bio gets Nasdaq notice after reporting stockholders' deficit of ($4.0 million)
Tickers QTTB
The minimum stockholders' equity requirement is $2.5 million. Q32 Bio has 45 calendar days to submit a plan to regain compliance.
Key facts
- Company
- Q32 Bio Inc. (NASDAQ: QTTB)
- News type
- Listings
- Primary source
- Q32 Bio Inc. 8-K (2025-05-23)
Q32 Bio Inc. said Nasdaq has notified it that it no longer meets the exchange's minimum stockholders' equity requirement.
On May 19, 2025, the Waltham, Massachusetts company received written notice from the listing qualifications staff of the Nasdaq Stock Market LLC, according to a Form 8-K filing. The notice was based on the company's quarterly report for the quarter ended March 31, 2025, which reported stockholders' equity (deficit) of approximately ($4.0 million). Nasdaq Listing Rule 5550(b)(1) requires stockholders' equity of at least $2.5 million for continued listing on the Nasdaq Capital Market.
The notice also said Q32 Bio did not meet either alternative test: market value of listed securities of $35.0 million, or net income from continuing operations of $0.5 million.
The company said its equity figure is hurt by the accounting for its re-acquisition of bempikibart from Amgen Inc. in the fourth quarter of 2023. Under a 2022 deal, Legacy Q32 received $55.0 million from Horizon Therapeutics Ireland DAC. When that option deal ended, the company kept the funding and agreed to pay up to $75.1 million in milestone payments. Currently, $55.0 million is recognized as a liability on its balance sheet.
Q32 Bio has 45 calendar days to submit a compliance plan. If Nasdaq accepts it, Nasdaq may grant up to 180 calendar days from the notice date. The stock continues to trade under the symbol QTTB. The company said it intends to submit a plan within the required time.