Quince Therapeutics(QNCX) - 2025 Q1 - Quarterly Results

Financial Performance - Quince Therapeutics reported cash, cash equivalents, and short-term investments of $31.6 million for Q1 2025, sufficient to fund operations through early 2026[6]. - The company reported a net loss of$15.0 million for Q1 2025, equating to a net loss of $0.34 per share, with 43.9 million shares outstanding[6]. - Total operating expenses for Q1 2025 were$14.9 million, compared to 11.2 million in Q1 2024, reflecting increased R&D costs[13]. - Quince's total assets decreased from 114.5 million at the end of 2024 to $107.1 million by March 31, 2025[11]. Research and Development - Research and development expenses for Q1 2025 were$8.1 million, primarily related to the Phase 3 NEAT clinical trial[6]. - A total of 63 participants have been enrolled in the Phase 3 NEAT clinical trial, with an early enrollment conclusion potentially by the end of June 2025[4]. - The NEAT trial aims to achieve approximately 80% power to determine a statistically significant difference in the primary endpoint if enrollment concludes early[3]. - The company experienced slower than anticipated enrollment due to a challenging academic site environment, but expects increased screening and randomization activities soon[4]. Future Plans - Quince plans to submit a New Drug Application (NDA) in the U.S. and a Marketing Authorization Application (MAA) in Europe in the second half of 2026, assuming positive trial results[4]. - The company has activated all 19 study sites for the NEAT trial, including new sites in the U.K. and Europe[4].