Quince Therapeutics Inc (NASDAQ:QNCX) shares are soaring Tuesday as the company has engaged LifeSci Capital to serve as its exclusive financial advisor.
This strategic move has spurred the stock some 300% higher Tuesday afternoon, with volume exceeding 1.1 billion shares. Here’s what investors need to know.
- Quince Therapeutics stock is charging ahead with explosive momentum. What’s behind QNCX gains?
Quince Explores Strategic Alternatives
Quince Therapeutics announced recently that it has engaged LifeSci Capital to explore strategic alternatives aimed at maximizing shareholder value, including potential partnerships and restructuring of the company’s liabilities.
Options on the table include partnerships, joint ventures, mergers, acquisitions, licensing deals or other transactions, and LifeSci will also advise on any restructuring of the company’s liabilities.
Traders and investors are potentially betting the review could lead to a sale of the company or its assets at a premium, driving a sharp re-rating of the micro-cap stock.
Quince, a biotech focused on therapies for rare diseases, cautioned that there is no assurance the process will result in any specific deal and said it does not plan to provide further updates unless the board approves a transaction or deems additional disclosure necessary.
QNCX’s Bone-Targeted Drug Platform
Quince Therapeutics has developed a broad bone-targeting drug platform designed to deliver small molecules, peptides or large molecules directly to the site of bone fracture and disease, promoting rapid healing with fewer off-target safety concerns compared to non-targeted therapeutics.
This strategic engagement with LifeSci Capital is crucial as the company looks to explore partnerships and joint ventures that could enhance its market position and address its current challenges.
Earnings Update, Analyst Outlook
Quince Therapeutics is slated to provide its next financial update on March 23.
- EPS Estimate: Loss of 21 cents (Up from Loss of 28 cents YoY)
Analyst Consensus & Recent Actions: The stock carries a Buy Rating. Recent analyst moves include:
- Citizens: Downgraded to Market Perform (Jan. 30)
- D. Boral Capital: Downgraded to Hold (Jan. 30)
- D. Boral Capital: Buy (Maintains Target to $5.00) (Jan. 29)
QNCX Shares Skyrocket Tuesday
QNCX Price Action: Quince Therapeutics shares were up 338.46% at $0.57 at the time of publication on Tuesday, according to Benzinga Pro data.
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