Cigna earnings beat by $0.04, revenue topped estimates
SOUTH SAN FRANCISCO - Quince Therapeutics, Inc. (NASDAQ:QNCX), whose stock has surged over 137% in the past year according to InvestingPro data, announced Thursday the appointment of Dr. Hassan Abolhassani to its Scientific Advisory Board (SAB). The company’s shares currently appear undervalued based on InvestingPro’s Fair Value analysis.
Dr. Abolhassani, an Assistant Professor of Clinical Immunology at the Karolinska Institutet in Stockholm, Sweden, becomes the ninth member of the company’s advisory board, which includes experts in various fields related to rare diseases. The appointment comes as Quince maintains a strong liquidity position with a current ratio of 4.05, indicating robust short-term financial health.
The new appointee specializes in primary immunodeficiency disorders and Ataxia-Telangiectasia (A-T), a rare pediatric neurodegenerative disease. His research focuses on investigating the pathogenesis of primary antibody deficiency and immune pathways.
Quince’s SAB provides guidance for the development of the company’s lead asset, eDSP, which is currently in a Phase 3 clinical trial for A-T. The company aims to report topline results in the first quarter of 2026.
eDSP is being developed to deliver corticosteroid treatment without the typical toxicities associated with such medications. Beyond A-T and Duchenne muscular dystrophy, Quince is considering eDSP for several other rare disease indications where corticosteroids are used or could be beneficial if safety concerns were addressed.
Dr. Mauro Magnani, Chair of Quince’s SAB, stated that the company expects to benefit from Dr. Abolhassani’s expertise as they advance their lead asset.
Dr. Abolhassani is recognized among the top 1% of highly cited researchers in immunology and has received numerous awards for his work in the field, according to the press release statement.
In other recent news, Quince Therapeutics announced a private placement agreement that will bring approximately $11.5 million in upfront proceeds. The financing is priced at $1.325 per share, a 10% premium over the previous closing price. This agreement includes the issuance of 8,671,928 shares of common stock or pre-funded warrants, along with accompanying warrants that could generate an additional $10.4 million if fully exercised. Nantahala Capital, a healthcare-focused institutional investor, is leading the private placement, with participation from existing stockholders such as ADAR1 Capital Management and members of Quince’s senior management team. The company plans to use the proceeds to fund its pivotal Phase 3 NEAT clinical trial for Ataxia-Telangiectasia, as well as for working capital and general corporate purposes. Quince expects the funding to support operations into the second quarter of 2026, or potentially the second half of 2026 if all warrants are exercised. The warrants have an exercise price of $1.20 per share, will be immediately exercisable, and will expire five years from issuance. Citizens Capital Markets is serving as the lead placement agent, with Maxim Group LLC and Brookline Capital Markets as co-placement agents. The private placement is expected to close during the week of June 16, 2025, subject to customary closing conditions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.