Quince Therapeutics, Inc. - QNCX STOCK NEWS

Quince Therapeutics, Inc. (Nasdaq: QNCX) has appointed MTS Health Partners, L.P. as its financial advisor to explore strategic alternatives aimed at maximizing long-term shareholder value. The review will emphasize opportunities in in-licensing and acquisitions, positioning Quince for potential growth.

Chairperson David Lamond highlighted the importance of this strategic review, stating a commitment to pursuing options that benefit all stockholders. The company has not guaranteed specific outcomes or timing from this process, indicating that further communication will only occur as deemed appropriate.

As a biotechnology firm, Quince is actively searching for innovative therapies to expand its development pipeline and improve the lives of patients with rare diseases.

Quince Therapeutics, Inc. (Nasdaq: QNCX) has approved a one-year stockholder rights plan to protect its interests following an unsolicited acquisition proposal. The plan includes a dividend distribution of one preferred share purchase right per share, effective April 17, 2023. The rights will be exercisable if any entity acquires 10% or more of the stock without Board approval, allowing existing stockholders to purchase shares at a favorable price, helping to prevent acquisition at lower premiums. The company is hiring a financial advisor to explore strategic alternatives, including in-licensing and acquisitions, aimed at maximizing long-term shareholder value. The plan is designed to ensure that all shareholders can realize the value of their investments.

Quince Therapeutics, Inc. (NASDAQ: QNCX) has received an unsolicited acquisition offer from Echo Lake Capital. The company’s Board of Directors is currently reviewing the proposal to ascertain the best course of action for its shareholders. Stockholders are advised that no action is required at this time. Quince Therapeutics is focused on acquiring and developing innovative therapeutics for rare diseases, actively seeking clinical-stage assets for its pipeline expansion.

Echo Lake Capital has proposed to acquire Quince Therapeutics (NASDAQ:QNCX) for $1.60 per share in cash, representing a 90% premium over the stock's closing price. The offer is compelling, considering Quince currently holds approximately $2.55 per share in cash and investments, with additional assets including potential milestone payments and federal net operating loss carryforwards. Notably, Quince is not actively developing or marketing any drugs, leading to concerns over its valuation and risk of delisting due to a 70% decline in stock price since its recent acquisition.

Quince Therapeutics, Inc. (NASDAQ: QNCX) has announced an update on its development pipeline and business strategy for 2023. The company aims to prioritize resources on acquiring clinical-stage assets targeting rare diseases and intends to out-license its bone-targeting drug platform and NOV004, an anabolic peptide for accelerated fracture repair. Quince holds approximately $94 million in cash, with a projected annual expenditure of around $11 million in 2023, ensuring a runway until at least 2028. The company is actively seeking partnerships to enhance its strategic growth and has completed all IND-enabling studies for NOV004, preparing for out-licensing by the end of 2023.

Quince Therapeutics (QNCX) has announced the sale of its legacy small molecule protease inhibitor portfolio to Lighthouse Pharmaceuticals. This portfolio includes compounds such as COR588, which targets Alzheimer's disease. Quince aims to offload these assets for strategic focus and operational efficiency. The deal could yield Quince up to $150 million in milestone payments, along with tiered royalties on sales. They will also receive a 7.5% ownership stake in Lighthouse. Additionally, Quince anticipates an annual expense reduction exceeding $500,000 linked to these assets.

Quince Therapeutics, Inc. (QNCX) showcased its innovative bone-targeting platform at the Military Health System Research Symposium 2022. The company's lead compound, NOV004, exhibited potential to accelerate healing in traumatic bone injuries, reducing healing time by 50% in animal models. Quince's approach targets bone fractures directly, offering a unique solution in a market lacking FDA-approved systemic therapies for fracture repair. The company plans to advance NOV004 into Phase 1 clinical studies in 2023, focusing on osteogenesis imperfecta and other significant bone diseases.

Quince Therapeutics (NASDAQ: QNCX) presented at the ASBMR 2022, highlighting its innovative bone-targeting platform for treating spinal fusion and bone cancer. The company showcased two preclinical studies: one on NOV004, aimed at improving spinal fusion outcomes through targeted delivery, and another focusing on a radioactive conjugate for bone cancer therapy. Both approaches aim to enhance healing and patient outcomes by directly addressing bone injuries and diseases.

Quince Therapeutics (NASDAQ: QNCX) presented promising preclinical data at the 14th International Conference on Osteogenesis Imperfecta (OI 2022) regarding its novel therapeutic NOV004. The data indicates NOV004's potential to significantly enhance bone density, strength, and healing in osteogenesis imperfecta (OI). In preclinical models, a two-fold improvement in calcified bone and a three-fold increase in maximum load were documented. NOV004 is slated to enter Phase 1 clinical studies in 2023, aiming to address unmet medical needs in OI.