10-Q · May 11, 2026
Quince Therapeutics reported another significant loss in Q4 2026, with revenue remaining undisclosed. Their diluted EPS deteriorated further to -0.76, a notable miss against the -0.21 consensus estimate. The company has…
Earnings analysis · 10-Q
QNCX earnings analysis
Filed August 14, 2026 · Our reading of the company's report
The latest report
Quince remains a pre-commercial clinical-stage biopharmaceutical company with $0 revenue and a reported diluted EPS of -$12.31 for the quarter. Six-month net loss increased to $39.6 million from $31.1 million, while…
Read full summary
Quince remains a pre-commercial clinical-stage biopharmaceutical company with $0 revenue and a reported diluted EPS of -$12.31 for the quarter. Six-month net loss increased to $39.6 million from $31.1 million, while accumulated deficit reached $500.0 million; the company also recorded a $67.8 million intangible-asset impairment tied to the NEAT study. The Orphai acquisition and July 2026 PH-ILD Phase 2b start advance the LAM-001 program, but continued losses, dependence on additional financing, integration execution and regulatory approval requirements remain substantial risks.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-12.31
What stood out
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LAM-001 Clinical Development Advanced
The company initiated a Phase 2b clinical trial of LAM-001 in PH-ILD in July 2026 and expects to initiate a Phase 2 SAPH trial in late 2026.
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Orphai Acquisition Completed
Quince completed the Orphai acquisition on May 18, 2026, expanding its pipeline around LAM-001 and serious pulmonary disorders.
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ATM Financing Added Liquidity
The company raised approximately $20.3 million of net proceeds through its ATM program during the six months ended June 30, 2026, issuing 526,435 common shares.
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Disclosure Controls Effective
Management concluded that disclosure controls and procedures were effective as of June 30, 2026.
What to watch
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Persistent Losses and No Revenue
The company reported a net loss of $39.6 million for the six months ended June 30, 2026, versus $31.1 million in the prior-year period, and its accumulated deficit reached $500.0 million as of June 30, 2026. It has no approved products and has not generated commercial product revenue.
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Material Intangible-Asset Impairment
The company recognized a total impairment charge of $67.8 million for indefinite- and finite-lived intangible assets for the six months ended June 30, 2026, related to the negative outcome of the NEAT study, highlighting material pipeline and acquisition-asset impairment risk.
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Acquisition Integration and Financing Risk
Post-acquisition integration is expected to continue through the remainder of 2026, including integration of Orphai’s financial processes, systems and personnel. Failure to obtain required approvals could also force cash settlement of Series C Preferred Stock; the company increased its authorized-share proposal from 250.0 million to 275.0 million shares.
Management's outlook
No quantitative revenue or EPS guidance was provided in the filing. Management states it expects significant expenses and increasing operating losses for the foreseeable future, and expects SAPH Phase 2 initiation in late 2026.
Earlier filings 4
10-K · April 10, 2026
Quince completed its pivotal NEAT Phase 3 trial in January 2026 but the trial did not meet the primary endpoint (mean change 0.94 active vs 2.24 placebo; difference -1.30; p=0.0851), and management states eDSP "does not…
10-Q · August 11, 2025
Quince reported a net loss of $16,049 (three months ended June 30, 2025) versus $27,729 in the prior-year quarter, with GAAP EPS of $(0.34) (vs $(0.64) a year ago) but missing the consensus estimate of $(0.25). Cash and…
10-Q · May 13, 2025
Quince Therapeutics reported a quarterly net loss of $15,030,000 (‑$0.34 per share) for the three months ended March 31, 2025, driven by a sharp R&D ramp to $8,145,000 and a $1,924,000 fair value adjustment to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.