Q32 Bio Inc. (NASDAQ:QTTB), ("Q32 Bio") a clinical stage biotechnology company focused on developing innovative therapies for alopecia areata ("AA") and other autoimmune and inflammatory diseases, today announced that it has commenced an underwritten public offering of $200 million of shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock. Q32 Bio intends to grant the underwriters a 30-day option to purchase up to an additional $30 million of shares of common stock offered in the public offering at the public offering price, less underwriting discounts and commissions. All of the shares of common stock and pre-funded warrants to be sold in the proposed offering will be sold by Q32 Bio.

Morgan Stanley, Jefferies and Cantor are acting as joint book-running managers for the offering. Oppenheimer & Co. is also acting as a book-running manager for the offering, and H.C. Wainwright & Co. is acting as lead manager for the offering.

Q32 Bio intends to use the net proceeds of the offering for working capital purposes, including expenses related to research, clinical development and commercialization efforts including for supporting the advancement of bempikibart into future clinical trials. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed or as to the actual size or terms of the proposed offering.