Quince Therapeutics, Inc. (Nasdaq: QNCX), a biotechnology company focused on acquiring, developing, and commercializing innovative therapeutics that transform patients’ lives, today provided an update on the company’s development pipeline and business outlook for 2023. The company intends to prioritize capital resources toward the expansion of its development pipeline through opportunistic in-licensing and acquisition of clinical-stage assets targeting debilitating and rare diseases. Quince plans to out-license its bone-targeting drug platform and precision bone growth molecule NOV004 designed for accelerated fracture repair in patients with bone fractures and osteogenesis imperfecta.
Key highlights of the company’s strategic growth plan include:
Prioritizing pipeline expansion through in-licensing and acquisition
Out-licensing of bone-targeting drug platform and precision bone growth molecule NOV004
Competitively positioned with strong balance sheet
Strong cash position of approximately $94 million in cash, equivalents, and marketable securities as of December 31, 2022.
Significant cash runway to support pipeline expansion through in-licensing and acquisition, as well as fund capital and operating expenditures into at least 2028.
Expect annual capital and operating expenditures to approximate $11 million in 2023, excluding the impact of corporate restructuring and potential business development activities.
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