The company is now a clinical-stage pulmonary biotech with $116M cash runway through 2028. Key catalysts are Phase 2 BOS data (Q1 2027) and Phase 2b PH-ILD data (Q1 2028). Monitor the S-3 shelf registration filed 9 days ago for potential secondary sales by selling stockholders, which could create near-term overhang.
Price Chart
Executive Summary
Quince Therapeutics reported Q2 2026 results reflecting the transformational acquisition of Orphai Therapeutics and a concurrent $115M private placement. The company posted a net loss of $75.5M ($12.31/share) vs $16.0M ($68.75/share) in Q2 2025, driven by $59M in acquired IPR&D and $9.1M in one-time stock compensation. Cash position strengthened to $116M, funding operations through end of 2028, with LAM-001 Phase 2b PH-ILD data expected Q1 2028 and Phase 2 BOS data Q1 2027.
Key Financial Metrics
Key Facts
- Completed Orphai Therapeutics acquisition on May 18, 2026, adding LAM-001 (inhaled rapamycin) pipeline
- Closed $115M private placement with net proceeds of $103.6M; up to $83M additional from warrant exercises
- Cash and cash equivalents of $116M as of June 30, 2026, expected to fund operations through end of 2028
- Net loss of $75.5M ($12.31/share) for Q2 2026 vs $16.0M ($68.75/share) in Q2 2025
- R&D expense $5.5M (down from $6.6M); G&A expense $16.6M (up from $3.3M, includes $9.1M one-time stock comp)
- Phase 2b PH-ILD trial initiated; topline data anticipated Q1 2028; Phase 2 BOS data expected Q1 2027
- Phase 2a LAM-001 data at ATS showed 67.4m mean 6MWD improvement and 33.9% mean PVR reduction in PH-ILD patients
- Two reverse stock splits effected: 1-for-10 on April 10, 2026 and 1-for-20 on June 29, 2026
- 978,022 common shares outstanding as of June 30, 2026
Financial Impact
Net loss of $75.5M in Q2 2026, primarily from $59M acquired IPR&D and $9.1M one-time stock comp; cash position increased from $17.8M to $116M
Risk Factors
- Clinical trial risk: LAM-001 Phase 2b PH-ILD and Phase 2 BOS data may not replicate Phase 2a results
- Dilution risk: S-3 shelf registration for up to 15.47M shares for resale by selling stockholders
- Reverse stock splits (1-for-10 and 1-for-20) indicate prior distress; Nasdaq minimum bid price compliance risk
- No approved products; entirely dependent on LAM-001 clinical development success
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-350568 |
| Document: d163839d8k.htm | 0001193125-26-350568 |
| Document: 0001193125-26-350568-index-headers.html | 0001193125-26-350568 |
| Document: 0001193125-26-350568-index.html | 0001193125-26-350568 |
| Document: 0001193125-26-350568.txt | 0001193125-26-350568 |
| 8-K Data (Synthetic) | 0001193125-26-350568 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 4, 2026 28d ago | 8-K | $31.32 $28.59 | โฒ +8.72% | โฒ +7.51% | $30.67 (+2.08%) |
Aug 25, 2026 5w ago | EFFECT | $30.93 $32.11 | โผ โ3.82% | โผ โ4.35% | $30.67 (+0.84%) |
Aug 14, 2026 7w ago | 8-K | $31.34 awaiting T+5 | awaiting T+5 | โ | $30.67 (โ2.14%) |
Aug 14, 2026 7w ago | Press Release | $31.34 awaiting T+5 | awaiting T+5 | โ | $30.67 (โ2.14%) |
Aug 5, 2026 8w ago | S-3/A | $28.88 $31.26 | โฒ +8.24% | โฒ +7.89% | $30.67 (+6.20%) |
Jun 11, 2026 16w ago | 3 | $0.9337 $0.9451 | โฒ +1.22% | โฒ +0.55% | $30.67 (+3184.78%) |
May 18, 2026 19w ago | 8-K | $19.90 $24.00 | โฒ +20.60% | โฒ +18.99% | $30.67 (+54.12%) |
Apr 27, 2026 22w ago | DEFA14A | $24.60 $24.60 | ยท 0.00% | โผ โ1.70% | $30.67 (+24.67%) |
Apr 9, 2026 25w ago | 8-K | $1.24 $1.34 | โฒ +8.06% | โฒ +4.88% | $30.67 (+2373.39%) |
US Market Status
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