Quince Therapeutics, Inc.
For the period ended Jun 30, 2026. Filed Aug 14, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 14, 2026
QNCX$31.73+8.1%Stored close · as of Oct 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLI DATED STATEMENTS OF CASH FLOWS
(In thousands)
| For the Six Months Ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net loss | $(39,576) | $(31,079) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock based compensation | 13,379 | 2,659 |
| Depreciation and amortization | 77 | 67 |
| Change in the fair value of contingent consideration liabilities | (64,330) | 2,456 |
| Change in fair value of debt, net | (12,197) | 828 |
| Change in fair value of warrants | (35,623) | 4,464 |
| Gain on settlement of accounts payable | (3,720) | — |
| Intangible asset impairment charge | 67,808 | — |
| Acquired in-process research and development from the Orphai Acquistion | 59,000 | — |
| Gain on Orphai Acquisition | (1,305) | — |
| Amortization of discount on available-for-sale investments | (62) | (590) |
| Changes in operating assets and liabilities, net of acquisitions: | ||
| Prepaid expenses and other current assets | (3,277) | 588 |
| Right of use assets, operating leases and operating lease liabilities | 451 | 53 |
| Other assets | 1,774 | (121) |
| Accounts payable | 6,171 | (1,417) |
| Accrued expenses and other current liabilities | (15,097) | 1,103 |
| Other liabilities | 13 | (27) |
| Net cash used in operating activities | (26,514) | (21,016) |
| Cash flow from investing activities: | ||
| Purchase of investments | — | (13,789) |
| Proceeds from maturities of investments | 12,000 | 31,000 |
| Purchase of property and equipment | — | (274) |
| Net cash assumed in the Orphai Acquisition | 8,001 | — |
| Net cash provided by investing activities | 20,001 | 16,937 |
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock upon exercise of stock options | — | 183 |
| Proceeds from issuance of common stock, common warrants, and pre-funded warrants pursuant to June 2025 private placement offering, net of issuance costs | — | 11,426 |
| Proceeds from issuance of Series C Preferred Stock and Financing Warrants pursuant to May 2026 private placement offering, net of issuance costs | 103,639 | — |
| Issuance of common stock in connection with the ATM offerings, net of issuance costs | 20,338 | 2,890 |
| Repayment of debt | (5,545) | — |
| Cash settlement of common warrants | (56) | — |
| Net cash provided by financing activities | 118,376 | 14,499 |
| Effect of exchange rate changes on cash | (1,691) | 194 |
| Net increase in cash and cash equivalents | 110,172 | 10,614 |
| Cash and cash equivalents at beginning of period | 5,809 | 6,212 |
| Cash and cash equivalents at end of period | $115,981 | $16,826 |
| Supplemental disclosures of cash flow and non-cash information: | ||
| Cash paid for interest | $29 | $117 |
| Offering costs in accounts payable and accrued expenses | $— | $193 |
| Noncash exercise of pre-funded warrants | $341 | $— |
| Common stock and Series C Preferred Stock issued in connection with Orphai Acquisition | $51,388 | $— |
| Fair value of replacement awards issued as consideration in the Orphai Acquisition | $4,161 | $— |
| Net liabilities assumed in connection with Orpahi Acquisition | $9,283 | $— |
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