Quince Therapeutics, Inc. (QNCX) : 1.0000-0.0800 (-7.41%)
Jan 30 (Reuters) - Quince Therapeutics Inc : * QUINCE THERAPEUTICS - ON JANUARY 24, BOARD OF COMPANY APPROVED COST REDUCTION PROGRAM TO ALIGN OPERATIONS WITH CHANGES IN CORPORATE STRATEGY * QUINCE THERAPEUTICS - UNDER PLAN, COMPANY IS REDUCING HEADCOUNT BY APPROXIMATELY 47% THROUGH A REDUCTION IN ITS WORKFORCE * QUINCE THERAPEUTICS - REDUCTION IN FORCE WILL BEGIN IN FEBRUARY 2023 AND WILL BE COMPLETED BY APRIL 2023 * QUINCE THERAPEUTICS - AS A RESULT, EXPECTS TO REALIZE ESTIMATED ANNUALIZED OPERATING EXPENSE SAVINGS OF ABOUT $9.5 MILLION IN YEAR ENDING DEC 31, 2023 * QUINCE THERAPEUTICS - REDUCTION IN FORCE WILL BEGIN IN FEBRUARY 2023 AND WILL BE COMPLETED BY APRIL 2023 * QUINCE THERAPEUTICS - EXPECTS TO REALIZE ESTIMATED ANNUALIZED OPERATING EXPENSE SAVINGS OF APPROXIMATELY $9.5 MILLION IN YEAR ENDING DECEMBER 31, 2023 * QUINCE THERAPEUTICS - IN CONNECTION WITH PLAN, COMPANY ESTIMATES THAT IT WILL INCUR EXPENSES OF APPROXIMATELY $0.6 MILLION TO $0.8 MILLION
BRIEF-Quince Therapeutics Provides Pipeline Update And Business Outlook For 2023
Jan 30 (Reuters) - Quince Therapeutics Inc : * QUINCE THERAPEUTICS PROVIDES PIPELINE UPDATE AND BUSINESS OUTLOOK FOR 2023 * QUINCE THERAPEUTICS PROVIDES PIPELINE UPDATE AND BUSINESS OUTLOOK FOR 2023 * QUINCE THERAPEUTICS - STRONG CASH POSITION OF APPROXIMATELY $94 MILLION IN CASH, EQUIVALENTS, AND MARKETABLE SECURITIES AS OF DECEMBER 31, 2022 and Potential for Quince to receive up to $150 million in regulatory and commercial milestones payments on a product-by-product basis, subject to conditions in the agreement https://finance.yahoo.com/news/quince-therapeutics-completes-sale-legacy-130000851.html * QUINCE THERAPEUTICS - CASH RUNWAY TO SUPPORT PIPELINE EXPANSION THROUGH IN-LICENSING AND ACQUISITION INTO AT LEAST 2028
Total Cash (mrq) 94.34M Total Cash Per Share (mrq) 2.61 Total Debt (mrq) 420k Shares Outstanding 36.13M Float 27.6M