--- title: "Quince Therapeutics | 10-K: FY2025 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/282386891.md" datetime: "2026-04-10T20:39:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/282386891.md) - [en](https://longbridge.com/en/news/282386891.md) - [zh-HK](https://longbridge.com/zh-HK/news/282386891.md) --- # Quince Therapeutics | 10-K: FY2025 Revenue: USD 0 Revenue: As of FY2025, the actual value is USD 0. EPS: As of FY2025, the actual value is USD -1.68. EBIT: As of FY2025, the actual value is USD -59.31 M. Quince Therapeutics, Inc. operates as a single reportable segment, with all financial information reviewed on a consolidated basis for performance evaluation and resource allocation. #### Operational Metrics - **Net Loss**: The company reported a net loss of - $84.0 million for the year ended December 31, 2025, marking a 48% increase from the - $56.8 million net loss in 2024. The accumulated deficit as of December 31, 2025, was - $460.5 million. - **Research and Development Expenses**: These expenses increased by $16.8 million (90%) to $35.4 million in 2025, up from $18.6 million in 2024. This rise was primarily driven by a $14.4 million increase in eDSP development costs for the Phase 3 NEAT clinical trial and Open-Label Extension, including $13.3 million in clinical trial costs. Personnel-related R&D costs also increased by $2.4 million, while facilities and other R&D expenses decreased by - $39 thousand. - **General and Administrative Expenses**: These expenses decreased by - $2.5 million (-14%) to $15.0 million in 2025, from $17.6 million in 2024. This reduction was attributed to decreases in allocated stock-based compensation and personnel-related expenses (- $0.7 million), consulting and professional costs (- $1.1 million), and other professional and administrative expenses (- $0.7 million). - **Goodwill Impairment Charge**: No goodwill impairment charge was recorded in 2025, compared to a non-cash charge of $17.1 million in 2024. - **Fair Value Adjustment for Contingent Consideration**: An adjustment of $7.6 million was recorded in 2025, increasing the fair value of contingent consideration, compared to $4.0 million in 2024. - **Fair Value Adjustment for Debt**: A - $2.0 million increase in loss was recorded in 2025, compared to - $1.7 million in 2024. - **Fair Value Adjustment for Warrants**: A charge of - $21.5 million was recorded in 2025 due to the issuance of warrants and changes in the company’s stock price. - **Warrant Issuance Costs**: Costs of - $0.9 million were incurred in 2025. - **Interest Income**: Interest income decreased by - $1.7 million (-58%) to $1.2 million in 2025, from $2.9 million in 2024, due to decreased yields and average balances in the investment portfolio. - **Other Income (Expense), net**: This category showed income of $0.5 million in 2025, a $1.2 million improvement from an expense of - $0.7 million in 2024, primarily due to realized gains from foreign exchange rates. - **Income Tax Expense**: Income tax expense was - $3.2 million in 2025, significantly higher than - $0.1 million in 2024, driven by the intercompany transfer of intellectual property offset by the associated release of deferred tax liabilities. #### Cash Flow - **Operating Activities**: Net cash used in operating activities increased by - $9.5 million to - $41.4 million in 2025, from - $31.9 million in 2024, mainly due to higher operating payments for clinical development. - **Investing Activities**: Cash provided by investing activities was $23.2 million in 2025, primarily from $58.0 million in maturities of short-term investments, offset by $34.4 million in purchases. In 2024, cash provided was $21.9 million, from $111.7 million in maturities and $89.6 million in purchases. - **Financing Activities**: Cash provided by financing activities was $17.9 million in 2025, including $11.4 million from a private placement offering and $6.3 million from ATM offerings. In 2024, cash used was - $4.8 million, primarily due to a - $5.0 million milestone payment for the EryDel Acquisition. #### Unique Metrics - **Liquidity**: As of December 31, 2025, Quince Therapeutics, Inc. had $17.8 million in cash, cash equivalents, and short-term investments. After this date, the company raised approximately $20.4 million net proceeds from its ATM program, with about $47.5 million remaining available for issuance. - **EIB Loan**: As of December 31, 2025, 10.0 million euros (approximately $11.8 million) was outstanding on the EIB Loan, which was fully settled in March 2026 for 4.8 million euros (approximately $5.5 million). - **Contingent Consideration**: The long-term contingent consideration liability related to the EryDel Acquisition was $52.0 million as of December 31, 2025. However, this liability was reduced to zero in March 2026 as the criteria for payouts would not be met. #### Outlook / Guidance Following the unsuccessful NEAT Phase 3 clinical trial for eDSP, Quince Therapeutics, Inc. has discontinued all development activities for eDSP due to insufficient resources for further research and development. The company is now focused on preserving cash and evaluating strategic alternatives, such as a reverse merger, to maximize shareholder value. Additional funding is being sought through public or private financing, though favorable terms or successful execution of any strategic transaction are not guaranteed. ### Related Stocks - [QNCX.US](https://longbridge.com/en/quote/QNCX.US.md) ## Related News & Research - [‘Solve all diseases,’ you say?](https://longbridge.com/en/news/287121830.md) - [Lupin bets big on India's GLP-1 market & respiratory drugs](https://longbridge.com/en/news/287021542.md) - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [00:45 ETAraceli Biosciences Launches Endeavor® Live Cell for Ultra-High-Throughput Kinetic Imaging in AI-Driven Drug Discovery](https://longbridge.com/en/news/287006505.md) - [Relay Therapeutics Reports Early Success For Investigational Drug In Rare Vascular Disorders](https://longbridge.com/en/news/286947243.md)