Quince Therapeutics, Inc. announced the closing of its previously announced private placement, securing approximately $11.5 million in upfront proceeds. The financing also includes potential additional proceeds of up to $10.4 million if the accompanying common warrants are exercised in full for cash.
This private placement was priced at a premium, led by healthcare-focused institutional investor Nantahala Capital, and saw participation from existing Quince stockholders and members of senior management. The company issued 6,671,928 shares of common stock, 2,000,000 pre-funded warrants, and accompanying warrants to purchase 8,671,928 shares.
The net upfront proceeds, combined with the company's cash position of $31.6 million as of March 31, 2025, are expected to fund operations into the second quarter of 2026, or the second half of 2026 if all warrants are exercised. This financing is crucial for funding the ongoing Phase 3 NEAT clinical trial and expanding the development pipeline into indications like Duchenne muscular dystrophy.
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