Quince Therapeutics reports Q2 2026 results after closing Orphai acquisition

Quince Therapeutics reported second quarter 2026 financial results and a business update on August 14, 2026. On May 18, 2026, Quince closed a stock-for-stock merger with Orphai Therapeutics, a clinical-stage biotechnology company, bringing in Orphai's lead asset LAM-001, an inhaled rapamycin formulation being developed for PH-ILD, BOS, and sarcoidosis-associated pulmonary hypertension (SAPH).¹

Alongside the merger, Quince entered a private placement financing with $115 million in gross upfront proceeds, yielding net proceeds of $103.6 million after $11.4 million in placement agent and other offering expenses, for Series C non-voting convertible preferred stock, with potential for up to an additional $83 million through warrant exercises, including warrants issued to former Orphai stockholders.¹

On the clinical side, Quince has activated clinical sites and is screening subjects for its Phase 2b trial of LAM-001 in PH-ILD, with topline data expected in the first quarter of 2028.¹ The company also continues to expect Phase 2 BOS trial data in the first quarter of 2027.¹ A Phase 2 trial in SAPH is anticipated to begin in late 2026, with data expected in the fourth quarter of 2028.¹

Quince also presented new Phase 2a data at the American Thoracic Society conference. In 10 adult patients with PAH and PH-ILD, six-minute walk distance improved by a mean of 67.4 meters and pulmonary vascular resistance fell by a mean of 33.9% at 24 weeks in PH-ILD patients; in the combined PAH and PH-ILD population, 6MWD improved by a mean of 81.3 meters with a 28.1% mean PVR reduction.¹

On finances, cash and cash equivalents were $116 million as of June 30, 2026, reflecting the $103.6 million in net private placement proceeds, which the company said should fund operations through the end of 2028.¹