AcquisitionsJul 30, 2026, 06:08 AM
Quince Therapeutics Files Orphai Acquisition Financials & Business Update
AI Summary
Quince Therapeutics, Inc. filed an amendment to its 8-K report, providing comprehensive financial statements for its recently acquired subsidiary, Orphai Therapeutics, Inc., for years ended December 31, 2025 and 2024, and interim periods. The filing also includes unaudited pro forma consolidated financial information for Quince and a detailed business update on Orphai's lead asset, LAM-001. This update highlights the clinical development of LAM-001 for various pulmonary disorders and the $115 million in upfront gross proceeds from a related private placement.
Key Highlights
- Quince Therapeutics completed the acquisition of Orphai Therapeutics on May 18, 2026.
- The filing includes audited financial statements for Orphai for the years ended December 31, 2025 and 2024.
- Unaudited interim financial statements for Orphai for the three months ended March 31, 2026 and 2025 are provided.
- Unaudited pro forma consolidated financial information for Quince for Q1 2026 and FY 2025 is included.
- Quince received $115 million in upfront gross proceeds from a private placement related to the acquisition.
- Orphai's lead asset, LAM-001, is an inhaled rapamycin formulation for pulmonary disorders.
- LAM-001 is in Phase 2b for PH-ILD (data Q1 2028) and Phase 2 for BOS (results Q1 2027).
- LAM-001 has Orphan Drug Designation in the US and EU for multiple indications.
Price Impact
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