8-K
filed February 2, 2022, 6:59 PM ET
ticker QNCX
CIK 0001662774
other material
confidence high
sentiment negative
materiality 0.85
Cortexyme cuts workforce 53%, CEO/CSO depart amid clinical hold; pipeline pivots to COR588 and oncology
Quince Therapeutics, Inc.
- CEO Casey Lynch and CSO Stephen Dominy resigned Jan 28; COO/CFO Christopher Lowe appointed Interim CEO and director.
- Workforce reduced ~53% with expected annualized savings of $8.3M in 2022 and one-time costs of $1.9-$2.1M.
- Preliminary cash, cash equivalents & investments of $126.7M as of Dec 31, 2021 (unaudited).
- Pipeline: COR588 Phase 1 data expected Q2 2022; atuzaginstat IND for oral squamous cell carcinoma in Q1 2022; COR803 in IND-enabling studies.
- Atuzaginstat IND on clinical hold for Alzheimer's; company plans Phase 2 for COR588 after FDA interactions.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Casey C. Lynch resigned as Chairperson of the Board at Quince Therapeutics, Inc..
- Action
- resigned
- Role
- Chairperson of the Board
Exact text from the filing
Ms. Lynch and Dr. Dominy tendered their resignation from the Board, effective as of January 31, 2022.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Stephen S. Dominy resigned as Chief Scientific Officer and a member of the Board at Quince Therapeutics, Inc..
- Action
- resigned
- Role
- Chief Scientific Officer and a member of the Board
Exact text from the filing
On February 1, 2022, the Company announced the departure of Casey C. Lynch, the Company’s President, Chief Executive Officer and Chairperson of the Board, and Stephen S. Dominy, M.D., the Company’s Chief Scientific Officer and a member of the Board, effective as of January 28, 2022 (the “Departure Date”).
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Casey C. Lynch resigned as President, Chief Executive Officer and Chairperson of the Board at Quince Therapeutics, Inc..
- Action
- resigned
- Role
- President, Chief Executive Officer and Chairperson of the Board
Exact text from the filing
On February 1, 2022, the Company announced the departure of Casey C. Lynch, the Company’s President, Chief Executive Officer and Chairperson of the Board, and Stephen S. Dominy, M.D., the Company’s Chief Scientific Officer and a member of the Board, effective as of January 28, 2022 (the “Departure Date”).
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Christopher Lowe was appointed as Class III Director at Quince Therapeutics, Inc..
- Action
- appointed
- Role
- Class III Director
Exact text from the filing
On February 2, 2022, the Board appointed Mr. Lowe to serve on the Board as a Class III Director, to fill the vacancy resulting from Ms. Lynch’s resignation from the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Stephen S. Dominy resigned as Director at Quince Therapeutics, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Ms. Lynch and Dr. Dominy tendered their resignation from the Board, effective as of January 31, 2022.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Christopher Lowe was appointed as Interim Chief Executive Officer at Quince Therapeutics, Inc..
- Action
- appointed
- Role
- Interim Chief Executive Officer
Exact text from the filing
On January 28, 2022, the Company appointed Christopher Lowe, the Company’s Chief Operating Officer (“COO”) and Chief Financial Officer (“CFO”), to serve as the Interim Chief Executive Officer (“Interim CEO”) of the Company.
View on SEC.gov
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