$QTTB
Q32 Bio Inc.

2021 Q4 Form 10-K Financial Statement

#000095017022004401 Filed on March 23, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $802.0K $33.97M $980.0K
YoY Change -18.16% 1157.25% 75.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.78M $36.84M $7.590M
YoY Change 42.04% 13.09% 31.31%
% of Gross Profit
Research & Development $23.65M $93.09M $23.20M
YoY Change 1.92% -7.28% 14.06%
% of Gross Profit
Depreciation & Amortization $2.073M $8.400M $2.060M
YoY Change 0.63% 5.0% 19.77%
% of Gross Profit
Operating Expenses $34.43M $129.9M $30.78M
YoY Change 11.85% -2.29% 17.84%
Operating Profit -$95.95M
YoY Change -26.34%
Interest Expense $42.00K $185.0K $10.00K
YoY Change 320.0% -88.22% -99.28%
% of Operating Profit
Other Income/Expense, Net $185.0K
YoY Change -88.21%
Pretax Income -$33.58M -$95.76M -$29.79M
YoY Change 12.73% -25.59% 23.25%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$33.58M -$95.80M -$29.79M
YoY Change 12.73% -25.56% 23.25%
Net Earnings / Revenue -4187.41% -282.01% -3039.8%
Basic Earnings Per Share -$1.73
Diluted Earnings Per Share -$589.0K -$1.732M -$620.0K
COMMON SHARES
Basic Shares Outstanding 57.15M 55.28M
Diluted Shares Outstanding 55.28M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $155.9M $155.9M $217.4M
YoY Change -28.31% -28.3% -17.13%
Cash & Equivalents $108.4M $108.3M $217.4M
Short-Term Investments $47.49M $47.49M $0.00
Other Short-Term Assets $36.04M $36.04M $2.100M
YoY Change 1616.0% 1616.0% -50.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $191.9M $191.9M $219.6M
YoY Change -12.6% -12.61% -17.64%
LONG-TERM ASSETS
Property, Plant & Equipment $2.252M $17.86M $37.00M
YoY Change -93.91% -58.37% -13.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.953M $1.953M $1.300M
YoY Change 50.23% 50.23% 0.0%
Total Long-Term Assets $19.81M $19.81M $44.17M
YoY Change -55.15% -55.07% 0.42%
TOTAL ASSETS
Total Short-Term Assets $191.9M $191.9M $219.6M
Total Long-Term Assets $19.81M $19.81M $44.17M
Total Assets $211.7M $211.7M $263.7M
YoY Change -19.72% -19.71% -15.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.366M $2.366M $4.722M
YoY Change -49.89% -49.66% 81.06%
Accrued Expenses $11.65M $11.65M $12.30M
YoY Change -5.27% -5.27% 61.84%
Deferred Revenue $3.208M $5.632M
YoY Change -43.04% 596.17%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.23M $17.23M $22.66M
YoY Change -23.97% -24.11% 83.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $24.84M $24.84M $45.10M
YoY Change -44.91% -44.91% 13.6%
Total Long-Term Liabilities $24.84M $24.84M $45.10M
YoY Change -44.91% -44.91% 13.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.23M $17.23M $22.66M
Total Long-Term Liabilities $24.84M $24.84M $45.10M
Total Liabilities $42.07M $42.07M $67.74M
YoY Change -37.9% -37.86% 30.12%
SHAREHOLDERS EQUITY
Retained Earnings -$424.1M -$328.4M
YoY Change 29.16% 64.45%
Common Stock $593.8M $524.4M
YoY Change 13.24% 14.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $169.7M $169.7M $196.0M
YoY Change
Total Liabilities & Shareholders Equity $211.7M $211.7M $263.7M
YoY Change -19.72% -19.71% -15.08%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$33.58M -$95.80M -$29.79M
YoY Change 12.73% -25.56% 23.25%
Depreciation, Depletion And Amortization $2.073M $8.400M $2.060M
YoY Change 0.63% 5.0% 19.77%
Cash From Operating Activities -$30.43M -$109.8M -$11.61M
YoY Change 162.1% 16.35% -55.91%
INVESTING ACTIVITIES
Capital Expenditures -$338.0K $2.396M -$950.0K
YoY Change -64.42% -35.82% -74.46%
Acquisitions
YoY Change
Other Investing Activities $44.00M -$48.39M $0.00
YoY Change -123.2% -100.0%
Cash From Investing Activities $43.66M -$50.79M -$950.0K
YoY Change -4695.89% -124.79% -95.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $49.74M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.000K 52.17M 51.99M
YoY Change -100.0% -1.74% 130.35%
NET CHANGE
Cash From Operating Activities -30.43M -109.8M -11.61M
Cash From Investing Activities 43.66M -50.79M -950.0K
Cash From Financing Activities 1.000K 52.17M 51.99M
Net Change In Cash 13.23M -108.4M 39.43M
YoY Change -66.44% -166.22% -265.74%
FREE CASH FLOW
Cash From Operating Activities -$30.43M -$109.8M -$11.61M
Capital Expenditures -$338.0K $2.396M -$950.0K
Free Cash Flow -$30.09M -$112.1M -$10.66M
YoY Change 182.29% 14.36% -52.85%

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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-108370000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
163657000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
218705000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
55048000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
110335000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
218705000
CY2021 fixx Reclassification Of Liability For Common Stock Vested In Noncash Transactions
ReclassificationOfLiabilityForCommonStockVestedInNoncashTransactions
13000
CY2020 fixx Reclassification Of Liability For Common Stock Vested In Noncash Transactions
ReclassificationOfLiabilityForCommonStockVestedInNoncashTransactions
24000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
241000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
110000
CY2021 fixx Property And Equipment Additions Included In Accrued Expenses And Other Liabilities
PropertyAndEquipmentAdditionsIncludedInAccruedExpensesAndOtherLiabilities
116000
CY2021 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-7000
CY2020 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-183000
CY2018Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
24168656
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
100000
fixx Proceeds From Future Issuance Stock
ProceedsFromFutureIssuanceStock
148400000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-95800000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-424100000
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Use of Estimates</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">—The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses, and the disclosure of contingent assets and liabilities as of and during the reporting period. The Company bases its estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, revenue recognition and accrued research and development expenses. The Company assesses estimates on an ongoing basis; however, actual results could materially differ from those estimates.</span>
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
108382000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
217431000
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
1953000
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
1274000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110335000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
218705000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8098000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
53377000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5846000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16375000
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Concentrations of Credit Risk</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">—Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash, cash equivalents and short-term investments. Periodically, the Company may maintain deposits in financial institutions in excess of government insured limits. We believe that we are not exposed to significant credit risk as our deposits are held at financial institutions that management believes to be of high credit quality and the Company has not experienced any losses on these deposits. We regularly invest excess cash with major financial institutions in money market funds, U.S. government and corporate debt securities and commercial paper, all of which can be readily purchased and sold using established markets. As of December 31, 2021</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">, the Company’s cash and cash equivalents were held with two financial institutions. We believe that the market risk arising from our holdings of these financial instruments is mitigated based on the fact that many of these securities are either government-backed or of high credit rating.</span>
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6835000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2251000
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
15441000
CY2021 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Guarantees and Indemnifications</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">—As permitted under Delaware law, the Company indemnifies its officers, directors, consultants and employees for certain events or occurrences that happen by reason of the relationship with, or position held at, the Company. Through December 31, 2021</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">, the Company had not experienced any losses related to these indemnification obligations, and </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> claims were outstanding. The Company does not expect significant claims related to these indemnification obligations and, consequently, concluded that the fair value of these obligations is negligible, and no related liabilities have been established.</span>
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2021 us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
The Company determines whether it is more likely than not that a tax position will be sustained upon examination. The tax benefit to be recognized for any tax position that meets the more-likely-than-not recognition threshold is calculated as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. If it is not more likely than not that a position will be sustained, none of the benefit attributable to the position is recognized.
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
37002000
CY2021 us-gaap Depreciation
Depreciation
8400000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
108382000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
217431000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
47498000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
7000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
47491000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
0
CY2021 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2020 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2021 fixx Investment Maturity Term
InvestmentMaturityTerm
less than one year
CY2020 fixx Investment Maturity Term
InvestmentMaturityTerm
less than one year
CY2021 fixx Fair Value Assets Liabilities Transfer Between Levels
FairValueAssetsLiabilitiesTransferBetweenLevels
0
CY2020 fixx Fair Value Assets Liabilities Transfer Between Levels
FairValueAssetsLiabilitiesTransferBetweenLevels
0
CY2020 us-gaap Depreciation
Depreciation
8000000.0
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2252000
CY2021 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
100000
CY2020 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
900000
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
28900000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7805000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6902000
CY2021Q4 fixx Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
2193000
CY2020Q4 fixx Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
2393000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1371000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
291000
CY2021Q4 fixx Accrued Unvested Common Stock Subject To Repurchase Current
AccruedUnvestedCommonStockSubjectToRepurchaseCurrent
0
CY2020Q4 fixx Accrued Unvested Common Stock Subject To Repurchase Current
AccruedUnvestedCommonStockSubjectToRepurchaseCurrent
13000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
37000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
204000
CY2021Q4 fixx Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
11406000
CY2020Q4 fixx Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
9803000
CY2021Q4 fixx Sublease Aggregate Base Rent Obligation
SubleaseAggregateBaseRentObligation
2700000
CY2021Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
2000000.0
CY2020Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
1300
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
2592000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
2492000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
2127000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
2355000
CY2021 us-gaap Sublease Income
SubleaseIncome
861000
CY2020 us-gaap Sublease Income
SubleaseIncome
913000
CY2021 us-gaap Lease Cost
LeaseCost
3858000
CY2020 us-gaap Lease Cost
LeaseCost
3934000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3326000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4444000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4578000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4715000
CY2021Q4 fixx Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
31123000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
48186000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
17932000
CY2021 us-gaap Amortization Of Lease Incentives
AmortizationOfLeaseIncentives
6320000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
23934000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y10M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.105
CY2020Q4 fixx Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
4219000
CY2021Q4 fixx Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities And Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilitiesAndOther
2072000
CY2021 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
3810000
CY2020 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
3804000
CY2021 fixx Lease Remeasurement Increase In Lease Liability And Right Of Use Assets
LeaseRemeasurementIncreaseInLeaseLiabilityAndRightOfUseAssets
10901000
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.093
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.106
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.086
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.080
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.014
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.018
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.026
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.401
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.378
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
100417000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
72838000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
51705000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
39888000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
6919000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1368000
CY2021Q4 fixx Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
6520000
CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
31500000
CY2020Q4 fixx Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities And Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilitiesAndOther
1914000
CY2021Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
1189000
CY2020Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
8251000
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
868000
CY2020Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
1039000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
169690000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
129517000
CY2021Q4 us-gaap Deferred Tax Liabilities Other Finite Lived Assets
DeferredTaxLiabilitiesOtherFiniteLivedAssets
4252000
CY2020Q4 us-gaap Deferred Tax Liabilities Other Finite Lived Assets
DeferredTaxLiabilitiesOtherFiniteLivedAssets
1611000
CY2021Q4 fixx Deferred Tax Liabilities Depreciation
DeferredTaxLiabilitiesDepreciation
-1541000
CY2020Q4 fixx Deferred Tax Liabilities Depreciation
DeferredTaxLiabilitiesDepreciation
-2115000
CY2021Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
-503000
CY2020Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
-757000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
6296000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
4483000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
163394000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
125034000
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
38400000
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
47200000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2020 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2021 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each holder of outstanding shares of common stock are entitled to one vote in respect of each share.
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
57150274
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
50265575
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.646
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.717
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.632
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.663
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0050
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0133
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0031
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0173
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5840824
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.18
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y9M18D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
12278000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2202325
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.97
CY2021 fixx Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriodGross
-59465
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.29
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
359378
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
17.50
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7624306
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.25
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2069000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
7624306
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
14.25
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y6M
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
2069000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4434630
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
13.66
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y8M12D
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2069000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
600000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
600000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.26
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.39
CY2021 fixx Unvested Common Shares Subject To Repurchase Vested
UnvestedCommonSharesSubjectToRepurchaseVested
3091
CY2021Q4 fixx Unvested Common Shares Subject To Repurchase Outstanding
UnvestedCommonSharesSubjectToRepurchaseOutstanding
0
CY2021Q4 fixx Unvested Common Shares Subject To Repurchase Outstanding
UnvestedCommonSharesSubjectToRepurchaseOutstanding
0
CY2020Q4 fixx Unvested Common Shares Subject To Repurchase Outstanding
UnvestedCommonSharesSubjectToRepurchaseOutstanding
3091
CY2020Q4 fixx Unvested Common Shares Subject To Repurchase Outstanding
UnvestedCommonSharesSubjectToRepurchaseOutstanding
3091
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17245000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13248000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7931906
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5843915
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
800000
CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
700000
CY2021Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
28900000

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