Quince Therapeutics, Inc.

Quince Therapeutics, Inc. announced that its CEO and CMO, Dirk Thye, and COO, CBO, and CCO, Brendan Hannah, tendered conditional resignations on July 29, 2026. Their resignations are contingent upon stockholder approval of three proposals at the upcoming Special Meeting, anticipated on September 25, 2026, related to the Orphai acquisition and PIPE financing. Concurrently, the Board conditionally appointed Brigette Roberts as CEO, John Militello as CFO, and Keith Fandrick as COO, all effective upon the same stockholder approvals. The departing officers remain eligible for retention bonuses and severance.

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.

Quince Therapeutics, Inc. announced the formation of a Scientific Advisory Board (SAB) comprising internationally recognized experts in pulmonary medicine. The SAB will guide the development of LAM-001, an inhaled rapamycin formulation, across multiple pulmonary indications including PH-ILD, BOS, and SAPH. The company plans to initiate a Phase 2b trial for LAM-001 in PH-ILD in mid-2026 and a Phase 2 study in SAPH in late 2026, while data from the fully enrolled Phase 2 BOS trial is expected in Q1 2027.

Quince Therapeutics, Inc. announced the implementation of a 1-for-20 reverse stock split, previously approved by stockholders. The Certificate of Amendment was filed on June 26, 2026, becoming effective at 11:59 pm ET on June 29, 2026. The company's common stock will commence trading on a split-adjusted basis on the Nasdaq Global Select Market at market open on June 30, 2026, under a new CUSIP number while retaining the QNCX ticker symbol. The split will reduce the number of outstanding shares from approximately 19.56 million to 0.98 million, with fractional shares being paid in cash.

Quince Therapeutics, Inc. announced that it has regained compliance with Nasdaq's continued listing requirements. The company had previously received a notice on March 17, 2026, for failing to maintain a minimum market value of listed securities of $50,000,000. On May 20, 2026, Nasdaq confirmed that Quince Therapeutics now complies with the stockholders' equity rule, based on its reported $15,672,000 in stockholders' equity for the quarter ended March 31, 2026, thereby closing the matter.

Quince Therapeutics announced positive Phase 2a data for LAM-001, an inhaled rapamycin, in patients with pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). The study demonstrated clinically meaningful improvements across functional, hemodynamic, and biomarker measures, including a 67.4-meter improvement in 6MWD and a 33.9% reduction in PVR in PH-ILD patients. Based on these encouraging results, the company plans to initiate a Phase 2b trial in PH-ILD in mid-2026, with data expected in the first quarter of 2028, and also has ongoing and planned studies for other indications.

Quince Therapeutics acquired Orphai Therapeutics, a clinical-stage biotechnology company, bringing the lead program LAM-001 into its pipeline. Concurrent with the acquisition, Quince secured up to $187 million in private placement financing, including $115 million upfront, to advance LAM-001. The financing, combined with existing cash, is expected to fund operations through the end of 2028 and support multiple clinical milestones, including Phase 2b PH-ILD data in Q1 2028 and Phase 2 BOS data in Q1 2027. Promising Phase 2a data for LAM-001 in PH-ILD were also announced, showing clinically meaningful improvements.

Quince Therapeutics announced the cessation of clinical development for its lead asset, eDSP, following the failure of its Phase 3 NEAT clinical trial to meet its primary endpoint. This significant setback led management to issue a going concern warning, citing insufficient cash to fund operations for the next twelve months and the need to evaluate strategic alternatives. Despite reporting a net income of $35.9 million for Q1 2026, driven by non-operating fair value adjustments and an intangible asset impairment charge, the company faces substantial operational challenges.

Quince Therapeutics, Inc. announced it has regained compliance with the Nasdaq minimum bid price requirement, with its common stock closing at or above $1.00 for 10 consecutive business days. However, the company has not yet regained compliance with Nasdaq's $50,000,000 market value of listed securities (MVLS) requirement. Quince Therapeutics has until September 14, 2026, to regain MVLS compliance, with no assurance of success.

Quince Therapeutics, Inc. (QNCX) announced its 2026 Annual Meeting of Stockholders will be held virtually on Thursday, June 11, 2026. Key proposals include the election of a Class I director, approval of an amendment to effect a reverse stock split ranging from 1-for-10 to 1-for-100, ratification of BDO USA, P.C. as the independent auditor, and an advisory vote on executive compensation. Stockholders of record as of April 23, 2026, are eligible to vote.