What's Going On With Quince Therapeutics Stock Today
Portfolio Pulse from Vandana Singh
Quince Therapeutics Inc (NASDAQ:QNCX) has agreed to acquire EryDel SpA, a late-stage biotech company. The deal involves a stock-for-stock upfront exchange and potential downstream milestone cash payments. EryDel stockholders will own approximately 16.7% of the combined company and will be entitled to up to $485 million upon achieving development, regulatory, and commercial milestone payments. The transaction is expected to close in Q3 2023. QNCX shares are down 24.10% at $1.20 on the last check Monday.
July 24, 2023 | 4:03 pm
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Quince Therapeutics is acquiring EryDel SpA, which could potentially bring in up to $485 million in milestone payments. However, QNCX shares are currently down 24.10%.
The acquisition of EryDel SpA by Quince Therapeutics could potentially bring significant revenue to the company in the form of milestone payments. However, the immediate market reaction to the news has been negative, with QNCX shares dropping by 24.10%. This suggests that investors may have concerns about the deal, which could continue to put downward pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100