---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-019103"
form_type: "8-K"
ticker: "QNCX"
cik: "0001662774"
company_name: "Quince Therapeutics, Inc."
filed_at: "2023-01-30T23:59:59+00:00"
generated_at: "2026-06-20T06:38:53.647210+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Quince Therapeutics cuts workforce 47%; reports $94M cash; pivots to in-licensing

## Summary
- Preliminary unaudited cash, cash equivalents, and marketable securities of ~$94M as of Dec 31, 2022.
- Board approved cost reduction plan cutting headcount by ~47%, expected to save ~$9.5M in annual operating expenses (2023).
- Estimated restructuring costs of $0.6M–$0.8M; workforce reduction begins Feb 2023, completes by Apr 2023.
- Company to prioritize in-licensing and acquisition of clinical-stage assets for rare diseases; out-license bone-targeting platform NOV004.
- Out-licensing of NOV004 to commence immediately; goal to conclude partnership by end of 2023.

## SEC filing metadata
- accession: 0001193125-23-019103
- form_type: 8-K
- ticker: QNCX
- cik: 0001662774
- company_name: Quince Therapeutics, Inc.
- filed_at: 2023-01-30T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 2.05, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1662774/000119312523019103/0001193125-23-019103-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1662774/000119312523019103/d442243d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-019103
- JSON: https://secwatch.observer/filing/0001193125-23-019103.json
- Plain text: https://secwatch.observer/filing/0001193125-23-019103.txt

## Key facts
- Earnings Releases
  Quince Therapeutics, Inc. reported preliminary financial results for the fourth quarter and year ended December 31, 2022.
  - Period: the fourth quarter and year ended December 31, 2022
  - Result: preliminary results
  source text: The Company also reported on a preliminary and unaudited basis its estimated cash, cash equivalents, and marketable securities of approximately $94 million as of December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1662774/000119312523019103/0001193125-23-019103-index.htm
- Restructurings & Charges
  Quince Therapeutics, Inc. announced a restructuring with charges of approximately $0.6 million to $0.8 million (approximately 47%).
  - Type: restructuring
  - Charge: approximately $0.6 million to $0.8 million
  - Headcount: approximately 47%
  source text: share-based compensation and any one-time costs related to strategic actions). In connection with the Plan, the Company estimates that it will incur expenses of approximately $0.6 million to $0.8 million, substantially all of which will be cash expenditures and other costs relating to the Plan through August 2023. The Company may incur other charges, including
  evidence_url: https://www.sec.gov/Archives/edgar/data/1662774/000119312523019103/0001193125-23-019103-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.