Quince Therapeutics, Inc.
QNCX evidence brief
What we can confirm
- BioSniper Score:
- 5.0 / 10
- Market Cap:
- $31.7M
- Lead Asset:
- edsp (Phase 3)
What it means
What to watch
Prepared research question
What matters most for QNCX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · QNCX
Quince Therapeutics is a clinical-stage biopharmaceutical company that, after its lead asset eDSP failed a Phase 3 trial, pivoted via acquisition to develop an inhaled rapamycin (LAM-001) for underserved pulmonary disorders, with a cash position of $116.0M as of 2026-06-30.
Key risk: Single-asset pipeline
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$31.7M
Cash Runway
—
Lead Asset
edsp (Phase 3)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 2 clinical trials for Quince Therapeutics, Inc..
Quince Therapeutics is a clinical-stage biopharmaceutical company that, after its lead asset eDSP failed a Phase 3 trial, pivoted via acquisition to develop an inhaled rapamycin (LAM-001) for underserved pulmonary disorders, with a cash position of $116.0M as of 2026-06-30.
- Completed acquisition of Orphai Therapeutics on May 18, 2026, adding LAM-001 (inhaled rapamycin) for pulmonary disorders [sec · filed 2026-07-31].
- Lead drug candidate eDSP failed to meet primary or secondary endpoints in the Phase 3 NEAT trial [sec_mda · as of 2026-05-11].
- Cash & equivalents of $116.0M as of 2026-06-30, with net income of -$75.5M and shareholders' equity of -$35.3M [sec].
- Closed private placement financing with $115M in upfront gross proceeds and potential for up to $83M more from warrants [news · published 2026-08-14].
- Phase 2 data for LAM-001 in BOS anticipated in Q1 2027; Phase 2b data in PH-ILD anticipated in Q1 2028 [news · published 2026-08-14].
What works
- The acquisition of Orphai Therapeutics brought LAM-001, a novel inhaled mTOR inhibitor, into the pipeline for serious pulmonary disorders with few treatment options [sec · filed 2026-07-31].
- The company secured $115M in upfront gross proceeds from a private placement, providing substantial cash runway [news · published 2026-08-14].
- LAM-001 targets multiple underserved pulmonary indications (PH-ILD, BOS, SAPH) with defined Phase 2 readout timelines [sec · filed 2026-05-18].
What to weigh
- The prior lead asset eDSP failed to meet primary or secondary endpoints in its Phase 3 NEAT trial, and development was discontinued [sec_mda · as of 2026-05-11].
- Shareholders' equity is negative (-$35.3M as of 2026-06-30), indicating accumulated losses exceed contributed capital [sec].
- The company has no other current development programs beyond LAM-001, creating single-asset risk [sec_mda · as of 2026-04-10].
- The company previously noted it would require additional capital to develop its drug candidates, and there is no guarantee of obtaining such funding [sec_mda · as of 2025-11-12].
From the filings
Quoted directly from source documents.
eDSP Phase 3 NEAT trial failed
“We recently completed our NEAT clinical trial for our lead drug candidate, eDSP, which did not meet primary or secondary endpoints.”
SEC MD&A · May 11, 2026
Acquisition of Orphai Therapeutics completed
“On May 18, 2026, we completed the Acquisition of Orphai Therapeutics, a clinical-stage biopharmaceutical company developing therapies to treat serious, underserved pulmonary disorders.”
SEC filings · July 31, 2026
Private placement proceeds
“Closed private placement financing, receiving $115 million in upfront gross proceeds, with potential for up to an additional $83 million upon exercise of warrants”
News · August 14, 2026
Catalyst timeline
- 2027-01-01 · Phase 2 data for LAM-001 in BOS — Anticipated in Q1 2027; will be first clinical readout for the new lead asset.
- 2028-01-01 · Phase 2b data for LAM-001 in PH-ILD — Anticipated in Q1 2028; key efficacy data for the primary pulmonary indication.
Risks & what to watch (3)›
Key risks
- Single-asset pipeline — After eDSP failure, only LAM-001 remains in development; no other programs [sec_mda · as of 2026-04-10].
- Negative shareholders' equity — Shareholders' equity of -$35.3M as of 2026-06-30 indicates accumulated losses exceed capital [sec].
- Future capital needs — Company previously stated it will require additional capital to develop its drugs, with no guarantee of funding [sec_mda · as of 2025-11-12].
What to watch
- Phase 2 data for LAM-001 in BOS anticipated in Q1 2027 [news · published 2026-08-14].
- Phase 2b data for LAM-001 in PH-ILD anticipated in Q1 2028 [news · published 2026-08-14].
- Potential exercise of warrants that could bring up to $83M additional proceeds [news · published 2026-08-14].
- Any further pipeline expansion or strategic alternatives, as the company previously explored reverse merger options [sec_mda · as of 2026-05-11].
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated October 13, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
Net income -$75M
Lead: Phase 3
2 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
46
Total value held
$1.3M
| Holder | Shares | Value |
|---|---|---|
| woodline partners lp | 5,200,000 | $527K |
| millennium management llc | 2,503,717 | $254K |
| shay capital llc | 1,772,909 | $180K |
| ieq capital, llc | 600,105 | $61K |
| blackrock, inc. | 473,259 | $48K |
| vanguard capital management llc | 461,477 | $47K |
| state street corp | 248,011 | $25K |
| vanguard fiduciary trust co | 232,326 | $23K |
| susquehanna international group, llp | 172,640 | $18K |
| simplex trading, llc | 154,093 | $16K |
Showing top 10 of 46 institutional holders of Quince Therapeutics, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 21, 2026- % of float
- 27.7%
- Days to cover
- 0.4
- Shares short
- 1,382,655
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
QNCX short interestGovernance
Frequently asked questions
What is the AI investment thesis for Quince Therapeutics, Inc.?
Quince Therapeutics is a clinical-stage biopharmaceutical company that, after its lead asset eDSP failed a Phase 3 trial, pivoted via acquisition to develop an inhaled rapamycin (LAM-001) for underserved pulmonary disorders, with a cash position of $116.0M as of 2026-06-30.
What is Quince Therapeutics, Inc.'s lead drug candidate?
Quince Therapeutics, Inc.'s most advanced tracked candidate is edsp (Phase 3) for Duchenne muscular dystrophy (DMD).
Who is the CEO of Quince Therapeutics, Inc.?
Dr. Dirk Thye M.D. is the chief executive officer of Quince Therapeutics, Inc. (QNCX).
Where is Quince Therapeutics, Inc. headquartered?
Quince Therapeutics, Inc. (QNCX) is headquartered in South San Francisco, CA, United States.
What therapeutic areas does Quince Therapeutics, Inc. focus on?
Quince Therapeutics, Inc. develops therapies across Rare Disease, Neurology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.