Quince Therapeutics, Inc. announced the pricing of a private placement of securities, expected to generate approximately $11.5 million in upfront proceeds. The financing also includes potential additional proceeds of up to $10.4 million if accompanying common warrants are exercised in full for cash.
The private placement was priced at a 10% premium over the $1.20 closing price per share of the company's common stock on June 11, 2025, with a combined purchase price of $1.325 per share (or $1.324 per pre-funded warrant) and accompanying warrant. This indicates strong investor interest and confidence in the company's prospects.
Led by healthcare-focused institutional investor Nantahala Capital, with participation from existing stockholders and senior management, the proceeds are intended for working capital and general corporate purposes. This includes funding the ongoing enrollment of the pivotal Phase 3 NEAT clinical trial and extending the company's operating runway into the second quarter of 2026, or the second half of 2026 if all warrants are exercised.
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