Here are 1-3 brief analogies for Quince Therapeutics (QNCX):

• Think of them as a Vertex Pharmaceuticals, but focused on developing treatments for a broader range of rare and debilitating diseases.
• Imagine a pre-commercial Moderna, but developing drugs for rare and debilitating diseases rather than vaccines.

• QR-504: A novel small molecule therapy currently in Phase 2 clinical development designed to reduce lipoprotein(a) (Lp(a)) levels for the treatment of hyperlipoproteinemia(a) and associated cardiovascular disease risk.

Quince Therapeutics (NASDAQ: QNCX) is a clinical-stage biopharmaceutical company focused on discovering and developing innovative therapies for patients with rare diseases.

As a company primarily engaged in research and development, Quince Therapeutics has not yet commercialized any products. Therefore, it does not currently have major customers, either other companies or categories of individual end-users, that purchase its products or services in the traditional sense.

For companies at this developmental stage, revenue typically stems from financing activities (such as equity offerings), strategic partnerships, collaborations, or grants, rather than from the sale of commercialized products to customers.

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Dirk Thye, M.D. Chief Executive Officer, Chief Medical Officer, and Board Member

Dr. Thye has served as Quince's Chief Executive Officer since May 2022 and Chief Medical Officer since December 2023, bringing nearly 25 years of biotechnology industry experience. He has achieved FDA approval for several drug programs and has expertise across multiple disciplines, including drug discovery, research and development, and executive leadership. Dr. Thye has served as CEO at ten companies and Chief Medical Officer at several others, and founded seven companies, five of which were sold with excellent returns for investors. Prior to Quince, he was CEO of Novosteo, a privately held biotech company, before its acquisition by Quince in May 2022. He was also the Founder and Executive Chairman of Geom Therapeutics and CEO of Agenovir, a CRISPR company, which was acquired by Vir Biotechnology. He also served as President of Cerexa Pharmaceutical, which was acquired by Forest Laboratories.

Brendan Hannah, M.B.A. Chief Operating Officer, Chief Business Officer, Principal Financial Officer, and Principal Accounting Officer

Mr. Hannah has served as Quince's Chief Operating Officer since October 2023, Chief Business Officer since May 2022, and is currently the company's Principal Financial Officer. He brings 15 years of experience in corporate development, operations, finance, and company formation. Previously, Mr. Hannah was Chief Operating Officer at Novosteo, leading operational and finance activities. He also served as Chief Business Officer at Neuroptika and Head of Corporate Development at Agenovir, where he led its acquisition by Vir Bio for up to $290 million. Mr. Hannah was Director of Business Development at Cidara Therapeutics (CDTX) and played a role in Trius Therapeutics' (TSRX) acquisition by Cubist Pharmaceuticals for over $700 million upfront.

Charles Ryan, J.D., Ph.D. President

Dr. Ryan serves as the President of Quince Therapeutics. More specific background details, including founding or managing other companies, selling companies, or a pattern of managing companies backed by private equity firms, were not readily available in the provided search results.

Giovanni Mambrini, MSc. Chief Technology Officer

Mr. Mambrini holds the position of Chief Technology Officer at Quince Therapeutics. More specific background details, including founding or managing other companies, selling companies, or a pattern of managing companies backed by private equity firms, were not readily available in the provided search results.

Pamela Williamson, RAC, FRAPS, M.B.A. Head of Regulatory Affairs

Ms. Williamson is the Head of Regulatory Affairs for Quince Therapeutics. More specific background details, including founding or managing other companies, selling companies, or a pattern of managing companies backed by private equity firms, were not readily available in the provided search results.

The addressable markets for Quince Therapeutics' main products or services are as follows:

Ataxia-Telangiectasia (A-T)

Quince Therapeutics' lead asset, eDSP (previously known as EryDex), is in Phase 3 clinical trials for Ataxia-Telangiectasia (A-T). The market for Ataxia-Telangiectasia across the top 7 major markets (United States, EU4: Germany, Spain, Italy, and France, United Kingdom, and Japan) reached a value of approximately USD 628.1 million in 2024. This market is projected to grow to about USD 1,335.5 million by 2035, exhibiting a compound annual growth rate (CAGR) of 7.08% during this period.

Duchenne Muscular Dystrophy (DMD)

Quince Therapeutics also has potential new indications and program expansions, including treatments for Duchenne Muscular Dystrophy. The global Duchenne Muscular Dystrophy drugs market was valued at approximately USD 4.1 billion in 2024. This market is projected to increase to approximately USD 19.46 billion by 2034, with a CAGR of 16.85% from 2025 to 2034. North America held the largest market share in the Duchenne Muscular Dystrophy drugs market, with the U.S. market alone valued at USD 1.32 billion in 2024, and it is projected to reach around USD 6.38 billion by 2034.

Here are 3-5 expected drivers of future revenue growth for Quince Therapeutics (QNCX) over the next 2-3 years:

1. Commercialization of eDSP for Ataxia-Telangiectasia (A-T): The primary driver of future revenue growth for Quince Therapeutics is the potential approval and commercialization of its lead asset, eDSP, for the treatment of Ataxia-Telangiectasia (A-T). The company completed enrollment in its pivotal Phase 3 NEAT clinical trial for eDSP in A-T in July 2025. Topline results from this study are anticipated in the first quarter of 2026. Assuming positive results, Quince plans to submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) and Marketing Authorization Applications (MAA) in Europe in the second half of 2026. There are currently no approved therapeutic treatments for A-T, representing a significant unmet medical need and commercial opportunity.
2. Expansion of eDSP to New Indications: Quince Therapeutics aims to expand the use of its eDSP system to other rare diseases, with Duchenne Muscular Dystrophy (DMD) being a key target. The company has finalized Phase 2 clinical trial study designs for eDSP in DMD and plans to initiate a Phase 2 study in 2025. This expansion leverages the potential of eDSP to deliver corticosteroids effectively while minimizing the long-term toxicities associated with conventional corticosteroid treatments.
3. Opportunistic In-licensing and Acquisition of Clinical-Stage Assets: Quince Therapeutics has stated its intention to prioritize capital resources towards expanding its development pipeline through opportunistic in-licensing and acquisition of clinical-stage assets. This strategy focuses on acquiring therapeutics that target debilitating and rare diseases, thereby broadening the company's product portfolio and potential revenue streams beyond its current lead candidate.
4. Broader Application of the Autologous Intracellular Drug Encapsulation (AIDE) Technology Platform: The eDSP system is built upon Quince's proprietary AIDE technology, which encapsulates drugs within a patient's own red blood cells. This platform offers potential benefits such as improved tolerability, enhanced tissue biodistribution, reduced immunogenicity, and prolonged drug half-life. Successful development and commercialization of eDSP could validate the AIDE platform, opening avenues for its application to other drugs that currently face limitations due to toxicity, poor biodistribution, or suboptimal pharmacokinetics, thereby creating additional long-term revenue opportunities.

Share Issuance

• In June 2025, Quince Therapeutics closed a private placement of securities, issuing 6,671,928 shares of common stock and 2,000,000 pre-funded warrants, alongside warrants to purchase an aggregate of 8,671,928 shares, generating approximately $11.5 million in upfront proceeds.
• An additional $10.4 million in proceeds is potential if all accompanying warrants from the June 2025 private placement are exercised in full.
• As of August 5, 2025, Quince Therapeutics had 53,713,798 shares of common stock outstanding.

Inbound Investments

• A private placement of securities in June 2025 brought in approximately $11.5 million in upfront proceeds and was led by healthcare-focused institutional investor Nantahala Capital, with participation from existing stockholders including ADAR1 Capital Management, Legend Capital Partners, and Lagfin S.C.A., along with new stockholder Second Line Capital.

Outbound Investments

• In October 2023, Quince Therapeutics acquired the Italian company EryDel S.p.A.

Capital Expenditures

• Quince Therapeutics reported capital expenditures of -$453,000 in the last 12 months as of November 5, 2025.
• Proceeds from the June 2025 private placement are intended to fund working capital and general corporate purposes, including the ongoing enrollment of the pivotal Phase 3 NEAT clinical trial, research and development expenses, and capital expenditures.
• The company plans to fund new program expansion into Duchenne muscular dystrophy and other high-priority rare disease indications for its lead asset eDSP.