Quince Therapeutics secures USPTO nod for A-T treatment patent

SOUTH SAN FRANCISCO, Calif. - Quince Therapeutics, Inc. (NASDAQ: QNCX), a biotech firm focusing on rare diseases with a current market capitalization of $67.76 million, has received a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for its EryDex technology, a method for treating Ataxia-Telangiectasia (A-T), a rare neurodegenerative condition. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 9.53, indicating robust short-term financial stability. The allowance, which extends patent claims until 2036, covers the process of loading erythrocytes with therapeutic substances.

Charles Ryan, J.D., Ph.D., President of Quince, highlighted the significance of this development for the company’s intellectual property portfolio and market exclusivity for EryDex. The Notice of Allowance is a crucial step in the patent process, indicating that the USPTO is ready to grant the patent once the issuance fee is paid. InvestingPro analysis shows the company holds more cash than debt on its balance sheet, though it’s currently burning through cash reserves - a common scenario for developmental biotech firms.

EryDex is an innovative treatment that encapsulates the corticosteroid dexamethasone sodium phosphate within a patient’s own red blood cells using Quince’s proprietary Autologous Intracellular Drug Encapsulation (AIDE) technology. This approach aims to maximize the drug’s efficacy while minimizing the adverse effects typically associated with chronic corticosteroid use.

The expected patent will likely be listed in the FDA’s Orange Book, requiring generic manufacturers to certify against Quince’s patent, thus providing the company with additional protection under the Hatch-Waxman Act. This comes on top of the market exclusivity granted by Orphan Drug Designation in both the U.S. and Europe. While the company’s overall financial health is rated as FAIR by InvestingPro, analyst price targets range from $6 to $12, suggesting potential upside from the current $1.55 trading price. Subscribers to InvestingPro can access 8 additional key insights about Quince’s financial position and growth prospects.

A-T is a genetic disorder characterized by progressive neurological decline, immune system problems, and a higher risk of infections and cancer. With no approved treatments currently available, EryDex’s advancement through the patent process is a significant milestone for the estimated 4,600 U.S. patients and approximately 5,000 patients in the U.K. and EU4.

Quince also plans to pursue similar patent claims in Europe, demonstrating its commitment to securing its intellectual property rights internationally.

The information in this article is based on a press release statement from Quince Therapeutics.

In other recent news, Quince Therapeutics has been making significant strides in various areas. Brookline Capital Markets initiated coverage on the company’s shares, expressing optimism about the potential of EryDex, a product currently under development. EryDex utilizes Quince’s innovative AIDE technology to deliver dexamethasone sodium phosphate, potentially offering a month-long continuous dosage without associated toxicity. This product shows promise for treating Ataxia-Telangiectasia, a rare neurodegenerative disorder.

In addition to this, Quince Therapeutics recently regained compliance with Nasdaq’s minimum bid price requirement, according to a recent 8-K filing with the Securities and Exchange Commission. This development, confirmed by Nasdaq, closes a period of scrutiny for the biotechnology firm.

Furthermore, Quince Therapeutics recently presented positive safety data from its Phase 3 ATTeST trial involving EryDex at the 53rd Child Neurology Society Annual Meeting. The treatment was generally well-tolerated, with most adverse events being mild to moderate. This recent data supports further evaluation of EryDex for Ataxia-Telangiectasia treatment. These developments highlight the company’s ongoing commitment to addressing rare diseases through innovative therapeutic solutions.

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