Quince Therapeutics Announces Pricing for Up to $22 Million Private Placement

Financing to provide $11.5 million in upfront proceeds with up to an additional $10.4 million of proceeds assuming exercise in full of the warrants

Financing priced at a premium to last close

SOUTH SAN FRANCISCO, Calif. – Quince Therapeutics, Inc. (Nasdaq: QNCX), a late-stage biotech focused on rare diseases, announced today a securities purchase agreement that could inject the company with a significant financial boost. The deal, involving shares of common stock and accompanying warrants, is expected to generate approximately $11.5 million upfront, with the potential for another $10.4 million if all warrants are exercised.

The financing, which comes at a premium to the stock’s last closing price, is being spearheaded by healthcare-focused institutional investor Nantahala Capital, with participation from existing Quince stockholders. This injection of capital will be crucial as Quince progresses its clinical programs, specifically its pivotal Phase 3 NEAT trial (NCT06193200/IEDAT-04-2022) for Ataxia-Telangiectasia (A-T).

Quince plans to use the net proceeds for working capital, research and development, and general corporate purposes. The company anticipates that proceeds from the private placement, combined with its existing cash reserves, will fund operations into the second quarter of 2026, or potentially the second half of 2026, if the warrants are fully utilized. That financial runway should buy Quince some breathing room as it navigates the complex world of late-stage biotechnology.

Under the terms of the agreement, investors will receive 8,671,928 shares of common stock (or pre-funded warrants in lieu thereof), along with warrants to purchase the same number of shares. The combined purchase price is set at $1.325 per share (or $1.324 per pre-funded warrant) with an accompanying warrant, representing a 10% premium over the previous closing price. The warrants have an exercise price of $1.20 per share and will be immediately exercisable, expiring five years from the date of issuance. The private placement is expected to close during the week of June 16, 2025, subject to customary closing conditions.

The placement is being facilitated by Citizens Capital Markets as the lead placement agent, with Maxim Group LLC and Brookline Capital Markets acting as co-placement agents.

The securities offered in this private placement have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.

About Quince Therapeutics

Quince Therapeutics, Inc. (Nasdaq: QNCX) is a late-stage biotechnology company dedicated to unlocking the power of a patient’s own biology for the treatment of rare diseases.

Forward-Looking Statements

Statements made in this news release that are not statements of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this news release regarding the expected closing of the private placement; the receipt of additional gross proceeds if the accompanying common warrants are exercised in full; the achievement of positive clinical trial results and approval of the eDSP by the FDA; the company’s intended use of the proceeds from the private placement; the company’s expectation that the net proceeds from the closing of the private placement, combined with its current cash, cash equivalents and marketable securities, will fund its operating and capital expenditures into the second quarter of 2026, or the second half of 2026, assuming all warrants are exercised for cash; and the company’s strategy, future operations, future financial position, projected expenses, expected timing and results of clinical trials, prospects, plans and objectives of management constitute forward-looking statements that involve risks and uncertainties, including, without limitation, risks and uncertainties related to: cost, timing, progress and results of the pivotal Phase 3 NEAT clinical trial in A-T indication and potential future trials in other indications; the company’s ability to obtain FDA approval and successfully commercialize its product candidate; the satisfaction of customary closing conditions related to the proposed private placement and the impact of general economic, industry or political conditions in the United States or internationally, the current or evolving effects of macroeconomic conditions, on Quince’s business operations and activities. There can be no assurance that the company will be able to complete the proposed private placement on acceptable terms, or at all. Quince’s actual results, performance, or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including the risks discussed under the heading “Risk Factors” discussed under the caption “Item 1A. Risk Factors” in Part I of Quince’s most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of its Quarterly Reports on Form 10-Q and in the company’s other filings with the SEC. Quince undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law.

Quince Therapeutics Announces Pricing for Up to Million Private Placement