Quince Therapeutics (QNCX)
Develops inhaled sirolimus for pulmonary hypertension and bronchiolitis obliterans syndrome.
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Develops LAM-001, a once-daily inhaled sirolimus formulation intended to concentrate mTOR inhibition in the lung for pulmonary hypertension and bronchiolitis obliterans syndrome after lung transplant. All active programs depend on the same investigational molecule.
Develops LAM-001, a proprietary once-daily dry-powder inhaled formulation of sirolimus for pulmonary hypertension associated with interstitial lung disease, bronchiolitis obliterans syndrome after lung transplant, and sarcoidosis-associated pulmonary hypertension. The clinical-stage business has no approved commercial product and has historically financed operations primarily by issuing securities.
Centers current clinical development at US sites while framing patient opportunities across the US and Europe. The formulation is designed to concentrate mTOR inhibition in the lung while reducing systemic exposure compared with oral rapamycin. Earlier PH-ILD observations were exploratory, from a small open-label, non-randomized study.
Depends on LAM-001 alone across every active program, and on clinical and regulatory execution. Warrant proceeds depend on disclosure of BOS trial results or the study's termination or suspension.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 22, 2026 | Citigroup | Upgrade | ||
| Sep 22, 2026 | Citizens | Upgrade | ||
| Aug 20, 2026 | Craig-Hallum | Initiate | Rating: —Target: — | Target: $68 |
| Aug 18, 2026 | Cantor Fitzgerald | Reiterate | Rating: —Target: — | Target: $70 |
| Jul 29, 2026 | Oppenheimer | Initiate | Rating: — |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $116.0M · Total debt $0 · Total assets $124.0M · Shareholders' equity $108.5M
- Revenue
- $0
- Operating income
- −$79.8M
- Net income
- −$75.5M
No dividends on record.
| Institutions | 32.45% | 330.1K shares | |
|---|---|---|---|
| 30 holders · as of Jun 30, 2026 | |||
| Insiders | 0.75% | 7.6K shares | |
| 4 holders · as of Dec 29, 2025 | |||
| Other | 66.80% | 679.4K shares | |
| remainder | |||
1.02M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (1.02M in the company's Sep 23, 2026 report, 278.4K elsewhere); stakes use the report.
A stock split fell inside the quarter, so quarter-on-quarter changes are not shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Ikarian Capital, LLCInstitution | 7.10% | 72,251 | as of Jun 30, 2026 |
Millennium Management LLCInstitution | 6.96% | 70,779 | as of Jun 30, 2026 |
Balyasny Asset Management L.P.Institution | 6.88% | 69,967 | as of Jun 30, 2026 |
Squadron Master Fund LPInstitution | 5.42% | 55,173 | filed Aug 4, 2026 |
Squadron Capital Management LLCInstitution | 3.97% | 40,375 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 26, 2025 | Luca Benatti | director | −50,000 | $3.47 |
- United Therapeutics
PH-ILD standard of care with approved Tyvaso and Tyvaso DPI.
- Liquidia
Approved YUTREPIA and Phase 3 L606 target PH-ILD.
- Insmed
Phase 3 once-daily TPIP advances in PH-ILD.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Quince Therapeutics | $29.27 | −6.63% | $8.7M | — | — | — | — |
| United Therapeutics | $489.47 | −1.63% | $21.12B | 17.8 | 18.9 | 6.7 | −1.9% |
| Liquidia | $67.66 | −1.43% | $6.10B | 50.1 | 15.1 | 13.5 | +1,842.7% |
| Insmed | $116.76 | −3.36% | $26.19B | — | — | 23.0 | +296.1% |
| Median | 34.0 | 17.0 | 13.5 | +296.1% |