QNCX Quince Therapeutics, Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 14, 2026
$29.20
· of 52w range
· above low
· to high
$15.1052w low
$910.0052w high
Market Cap (MRQ)
$30M
P/E
-0.2
EPS
$-1.68
your badges
52W Range
$15–$910
Analyst Rating
BUY
Price Target
$75
P/E
-0.2
ROE
700.5%
Net Profit Margin
·
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QNCX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$29.20
Market Cap (MRQ)
$30M
P/E
-0.2
EPS
$-1.68
ROE
700.5%
Debt/Equity (MRQ)
-0.0
52W Range
$15–$910
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| June 30, 2026 | 1-for-20 | Reverse |
| April 13, 2026 | 1-for-10 | Reverse |
10-Year Performance Revenue, net income, margins and EPS trends
EPS$-1.682021-12-31 → 2025-12-31
Free Cash Flow$-42M2019-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | QNCX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -0.25Y avg ≈-1.9 | ≈-1.9 | · | · | |
| P/B (MRQ) | -0.85Y avg ≈0.3 | ≈0.3 | · | · | |
| EV / EBITDA | -0.6 | · | · | · | |
| Price / FCF (TTM) | -0.65Y avg ≈-3.2 | ≈-3.2 | · | · | |
| Price / Cash Flow (TTM) | -0.65Y avg ≈-3.2 | ≈-3.2 | · | · | |
| EV / FCF (TTM) | 1.8 | · | · | · | |
| Price / Tangible Book (MRQ) | -0.85Y avg ≈5.1 | ≈5.1 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | QNCX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | -80.8%5Y avg ≈-48.7% | ≈-48.7% | -103.8% | Top tier | |
| ROE | 700.5%5Y avg ≈78.0% | ≈78.0% | -323.9% | Top tier | |
| ROIC | 341.4%5Y avg ≈14.7% | ≈14.7% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | QNCX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | -0.0 | · | · | · | |
| Current Ratio (MRQ) | 14.55Y avg ≈10.6 | ≈10.6 | 1.6 | Strong liquidity | |
| Quick Ratio | 0.15Y avg ≈10.1 | ≈10.1 | 1.4 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-18.9%
Next Report
Nov 10, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 14, 2026 | $-12.31 | $-18.24 | 32.5% |
| March 31, 2026 | May 11, 2026 | $57.60 | $-52.22 | 210.3% |
| Dec. 31, 2025 | $-142.00 | $-38.52 | -268.7% | |
| Sept. 30, 2025 | $-50.00 | $-44.15 | -13.3% | |
| June 30, 2025 | $-46.00 | $-51.34 | 10.4% | |
| March 31, 2025 | $-3.40 | $-2.32 | -46.5% | |
| Dec. 31, 2024 | $-0.28 | $-0.18 | -56.9% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $35M | $19M | $9M | $25M | $61M | $61M | $30M | $10M | |
| SG&A Expense | $15M | $18M | $18M | $26M | $30M | $18M | $9M | $2M | |
| Operating Expenses | $58M | $57M | $35M | $52M | $90M | $79M | $39M | $12M | |
| Operating Income | $-58M | $-57M | $-35M | $-52M | $-90M | $-79M | $-39M | $-12M | |
| Interest Expense | · | · | · | · | · | · | · | $957.0K | |
| Interest Income | $1M | $3M | $3M | $1M | $620.0K | $2M | $2M | $806.0K | |
| Other Non-op | $486.0K | $-676.0K | $-102.0K | $-997.0K | $-247.0K | $0 | $0 | · | |
| Pretax Income | $-81M | $-57M | $-32M | $-52M | $-90M | $-77M | $-37M | · | |
| Income Tax | $3M | $87.0K | $-197.0K | $-284.0K | $0 | $0 | $0 | $0 | |
| Net Income | $-84M | $-57M | $-31M | $-52M | $-90M | $-77M | $-37M | $-12M | |
| EPS (Basic) | $-1.68 | $-1.31 | $-0.84 | $-1.54 | $-3.03 | · | · | · | |
| EPS (Diluted) | $-1.68 | $-1.31 | $-0.84 | $-1.54 | $-3.03 | · | · | · | |
| Shares (Basic) | 50,096,897 | 43,262,269 | 37,237,149 | 33,496,534 | 29,718,506 | · | · | · | |
| Shares (Diluted) | 50,096,897 | 43,262,269 | 37,237,149 | 33,496,534 | 29,718,506 | · | · | · | |
| EBITDA | $-58M | $-57M | $-35M | $-52M | $-90M | $-79M | $-39M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $6M | $6M | $75M | $41M | $29M | $134M | $51M | $25M | |
| Short-term Investments | $12M | · | · | · | · | · | · | · | |
| Receivables | · | · | · | $0 | · | · | · | · | |
| Prepaid Expense | $5M | $3M | $2M | $4M | $5M | $4M | $6M | $868.0K | |
| Other Current Assets | $54.0K | $84.0K | $81.0K | $276.0K | $367.0K | $694.0K | $688.0K | $68.0K | |
| Current Assets | $23M | $44M | $77M | $94M | $112M | $138M | $106M | $73M | |
| PP&E (Net) | $595.0K | $315.0K | $234.0K | $393.0K | $263.0K | $427.0K | $709.0K | $283.0K | |
| PP&E (Gross) | · | · | · | · | · | · | · | $378.0K | |
| Accum. Depreciation | $844.0K | $639.0K | $507.0K | $185.0K | $959.0K | $615.0K | $283.0K | $95.0K | |
| Goodwill | · | $0 | $18M | $0 | $0 | · | · | · | |
| Intangibles | $68M | $60M | $64M | $6M | $0 | · | · | · | |
| Other Non-current Assets | $2M | $10M | $9M | $0 | $194.0K | $39.0K | $217.0K | $10.0K | |
| Total Assets | $94M | $114M | $168M | $104M | $133M | $189M | $124M | $73M | |
| Accounts Payable | $2M | $3M | $2M | $570.0K | $5M | $4M | $3M | $495.0K | |
| Accrued Liabilities | $11M | $4M | $3M | $2M | $9M | $13M | $6M | $962.0K | |
| Current Liabilities | $43M | $7M | $10M | $3M | $14M | $17M | $9M | $1M | |
| Capital Leases | $330.0K | $394.0K | $321.0K | $0 | $420.0K | $208.0K | · | · | |
| Deferred Tax | $0 | $5M | $5M | $248.0K | $0 | · | · | · | |
| Other Non-current Liabilities | $2M | $685.0K | $587.0K | $0 | · | · | · | · | |
| Total Liabilities | $129M | $84M | $83M | $3M | $15M | $17M | $9M | $1M | |
| Long-term Debt | $0 | $14M | $13M | $0 | · | · | · | · | |
| Total Debt | $18M | · | · | · | · | · | · | · | |
| Common Stock | $0 | $44.0K | $43.0K | $36.0K | $30.0K | $29.0K | $27.0K | $3.0K | |
| Paid-in Capital | $419M | $407M | · | · | · | · | · | · | |
| Retained Earnings | $-460M | $-376M | $-320M | $-288M | $-237M | $-147M | $-70M | $-33M | |
| AOCI | $6M | $-35.0K | $3M | $-289.0K | $-79.0K | $313.0K | $60.0K | $-49.0K | |
| Stockholders' Equity | $-36M | $30M | $85M | $101M | $119M | $172M | $115M | $-33M | |
| Liabilities + Equity | $94M | $114M | $168M | $104M | $133M | $189M | $124M | $73M | |
| Shares Outstanding | 278,627 | 220,009 | 42,973,215 | 36,136,480 | 30,074,412 | 29,543,222 | 26,869,413 | 3,412,366 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $142.0K | $186.0K | $322.0K | $204.0K | $344.0K | $332.0K | $188.0K | $51.0K | |
| Stock-based Comp | $5M | $5M | $5M | $17M | $30M | $14M | $2M | $155.0K | |
| Deferred Tax | $-6M | $-45.0K | $-258.0K | $284.0K | · | · | · | · | |
| Operating Cash Flow | $-41M | $-32M | $-18M | $-44M | $-63M | $-51M | $-33M | $-12M | |
| CapEx | $352.0K | $257.0K | $160.0K | $133.0K | $180.0K | $52.0K | $55.0K | $212.0K | |
| Investing Cash Flow | $23M | $22M | $-6M | $18M | $59M | $-52M | $-18M | $-47M | |
| Stock Issued | · | · | $0 | $608.0K | $0 | · | · | · | |
| Net Stock Activity | · | · | $0 | $608.0K | · | · | · | · | |
| Financing Cash Flow | $18M | $-5M | $143.0K | $707.0K | $7M | $119M | $77M | $76M | |
| Net Change in Cash | $-403.0K | $-15M | $-24M | $-25M | $3M | $16M | $26M | · | |
| Free Cash Flow | $-42M | $-32M | $-18M | $-44M | $-63M | $-51M | $-33M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROA | -80.8% | -40.2% | -23.1% | -43.6% | -55.8% | -49.0% | -37.5% | · | |
| ROE | 700.5% | -151.4% | -37.3% | -50.4% | -71.6% | -42.7% | -30.5% | · | |
| ROIC | 341.4% | -190.3% | -40.9% | -51.4% | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.5 | 6.1 | 8.1 | 30.5 | 7.9 | 8.1 | 11.9 | · | |
| Quick Ratio | 0.1 | 5.6 | 7.8 | 29.4 | 7.5 | 7.9 | 5.8 | · | |
| Debt / Equity | -0.5 | · | · | · | · | · | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-0.64 | $0.69 | $1.98 | $2.78 | $3.94 | $5.83 | $4.30 | · | |
| Cash Flow / Share | $-0.83 | $-0.74 | $-0.49 | $-1.31 | · | · | · | · | |
| Cash / Share | $0.10 | $0.93 | $1.75 | $2.50 | $3.55 | $4.53 | $1.91 | · | |
| EPS (TTM) | $-1.68 | $-1.31 | $-0.84 | $-1.54 | $-3.03 | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-84M | $-57M | $-31M | $-52M | $-90M | $-77M | $-37M | · | |
| Market Cap | $187M | $82M | $45M | $23M | $380M | $821M | $1.51B | · | |
| Enterprise Value | $199M | · | · | · | · | · | · | · | |
| P/E | -2.0 | -1.4 | -1.2 | -0.4 | -4.2 | · | · | · | |
| P/B | -5.2 | 2.7 | 0.5 | 0.2 | 3.2 | 4.8 | 13.1 | · | |
| P / Tangible Book | · | · | 11.9 | 0.2 | 3.2 | 4.8 | · | · | |
| P / Cash Flow | -4.5 | -2.6 | -2.5 | -0.5 | -6.0 | -16.1 | -45.3 | · | |
| P / FCF | -4.5 | -2.6 | -2.4 | -0.5 | -6.0 | -16.1 | -45.3 | · | |
| EV / EBITDA | -3.4 | · | · | · | · | · | · | · | |
| EV / FCF | -4.8 | · | · | · | · | · | · | · | |
| Earnings Yield | -50.1% | -70.0% | -80.0% | -241.8% | -24.0% | · | · | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $5M | $7M | $13M | $8M | $7M | $8M | $6M | $5M | $4M | $4M | $3M | $1M | $1M | $3M | $3M | $2M | |
| SG&A Expense | $17M | $4M | $4M | $3M | $3M | $5M | $4M | $4M | $5M | $5M | $5M | $5M | $4M | $4M | $4M | $4M | |
| Operating Expenses | $80M | $15M | $19M | $13M | $10M | $15M | $12M | $6M | $28M | $11M | $10M | $6M | $6M | $13M | $6M | $8M | |
| Operating Income | $-80M | $-15M | $-19M | $-13M | $-10M | $-15M | $-12M | $-6M | $-28M | $-11M | $-10M | $-6M | $-6M | $-13M | $-6M | $-8M | |
| Interest Income | $584.0K | $160.0K | $227.0K | $300.0K | $311.0K | $406.0K | $536.0K | $683.0K | $823.0K | $887.0K | $1M | $959.0K | $805.0K | $700.0K | $536.0K | $315.0K | |
| Other Non-op | $152.0K | $2M | $660.0K | $-58.0K | $-29.0K | $-87.0K | $-518.0K | $150.0K | $91.0K | $-399.0K | $467.0K | $-216.0K | $-107.0K | $-246.0K | $204.0K | $-616.0K | |
| Pretax Income | · | · | · | · | · | $-15M | · | · | · | $-11M | · | · | · | · | · | · | |
| Income Tax | $75.0K | $-5M | $3M | $-46.0K | $67.0K | $47.0K | $7.0K | $13.0K | $36.0K | $31.0K | $51.0K | $0 | $0 | $-248.0K | $0 | $0 | |
| Net Income | $-75M | $36M | $-39M | $-13M | $-16M | $-15M | $-12M | $-5M | $-28M | $-11M | $-9M | $-5M | $-5M | $-12M | $-6M | $-8M | |
| EPS (Basic) | $-12.31 | $3.60 | $-0.75 | $-0.25 | $-68.75 | $-3.42 | $-0.28 | $-0.13 | $-0.64 | $-0.26 | $-0.21 | $-0.15 | $-0.14 | $-0.34 | $-0.09 | $-0.22 | |
| EPS (Diluted) | $-12.31 | $2.88 | $-0.75 | $-0.25 | $-68.75 | $-3.42 | $-0.28 | $-0.13 | $-0.64 | $-0.26 | $-0.21 | $-0.15 | $-0.14 | $-0.34 | $-0.09 | $-0.22 | |
| Shares (Basic) | 6,132,845 | 9,120,267 | · | 53,951,371 | 233,431 | 4,394,119 | · | 43,164,136 | 43,096,374 | 43,010,212 | · | 36,073,040 | 35,917,592 | 35,855,200 | · | 35,612,749 | |
| Shares (Diluted) | 6,132,845 | 9,190,354 | · | 53,951,371 | 233,431 | 4,394,119 | · | 43,164,136 | 43,096,374 | 43,010,212 | · | 36,073,040 | 35,917,592 | 35,855,200 | · | 35,612,749 | |
| EBITDA | $-80M | $-15M | · | $-13M | $-10M | $-15M | · | $-6M | $-28M | $-11M | · | $-6M | $-6M | $-13M | · | $-8M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $116M | $18M | $6M | $6M | $17M | $8M | $6M | $48M | $59M | $68M | · | $21M | $21M | $42M | · | $22M | |
| Short-term Investments | $0 | $0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Receivables | · | · | · | · | · | · | · | · | · | · | · | $500.0K | · | · | · | · | |
| Prepaid Expense | $7M | $7M | $5M | $3M | $3M | $2M | $3M | $4M | $4M | $3M | $2M | $1M | $983.0K | $2M | $4M | $4M | |
| Other Current Assets | $393.0K | $24.0K | $54.0K | $96.0K | $55.0K | $32.0K | $84.0K | $55.0K | $79.0K | $48.0K | $81.0K | $92.0K | $143.0K | $179.0K | $276.0K | $336.0K | |
| Current Assets | $123M | $26M | $23M | $29M | $37M | $34M | $44M | $52M | $63M | $70M | $77M | $85M | $89M | $92M | $94M | $98M | |
| PP&E (Net) | $506.0K | $550.0K | $595.0K | $616.0K | $573.0K | $448.0K | $315.0K | $208.0K | $246.0K | $234.0K | $234.0K | $5.0K | $6.0K | $6.0K | $393.0K | $375.0K | |
| Accum. Depreciation | $882.0K | $856.0K | $844.0K | $807.0K | $777.0K | $691.0K | $639.0K | $667.0K | $566.0K | $530.0K | $507.0K | $13.0K | $12.0K | $12.0K | $185.0K | $159.0K | |
| Goodwill | · | · | · | $0 | · | · | $0 | $0 | $0 | $17M | $18M | $0 | $0 | $0 | $0 | $0 | |
| Intangibles | $0 | $0 | $68M | $68M | $68M | $62M | $60M | $65M | $62M | $62M | $64M | $0 | $0 | $0 | $6M | $6M | |
| Other Non-current Assets | $78.0K | $78.0K | $2M | $12M | $11M | $10M | $10M | $10M | $9M | $8M | $9M | · | · | · | $0 | $17.0K | |
| Total Assets | $124M | $27M | $94M | $110M | $117M | $107M | $114M | $127M | $135M | $159M | $168M | $85M | $89M | $93M | $104M | $110M | |
| Accounts Payable | $5M | $5M | $2M | $3M | $2M | $3M | $3M | $2M | $2M | $2M | $2M | $409.0K | $353.0K | $2M | $570.0K | $1M | |
| Accrued Liabilities | $4M | $3M | $11M | $5M | $6M | $5M | $4M | $4M | $3M | $3M | $3M | $2M | $2M | $1M | $2M | $4M | |
| Current Liabilities | $8M | $9M | $43M | $26M | $7M | $8M | $7M | $5M | $10M | $10M | $10M | $2M | $2M | $3M | $3M | $5M | |
| Capital Leases | $0 | $293.0K | $330.0K | $359.0K | $387.0K | $383.0K | $394.0K | $450.0K | $453.0K | $480.0K | $321.0K | · | · | · | $0 | $34.0K | |
| Deferred Tax | · | · | $0 | $6M | $6M | $5M | $5M | $5M | $5M | $5M | $5M | $0 | $0 | $0 | $248.0K | $248.0K | |
| Other Non-current Liabilities | $716.0K | $1M | $2M | $778.0K | $745.0K | $716.0K | $685.0K | $643.0K | $609.0K | $599.0K | $587.0K | · | · | · | $0 | · | |
| Total Liabilities | $16M | $11M | $129M | $109M | $105M | $89M | $84M | $82M | $88M | $85M | $83M | $2M | $2M | $3M | $3M | $5M | |
| Long-term Debt | · | · | $0 | $0 | $17M | $15M | $14M | $15M | $14M | $14M | $13M | · | · | · | $0 | · | |
| Total Debt | $0 | $0 | · | $18M | · | · | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $1.0K | $14.0K | $55.0K | $54.0K | $53.0K | $44.0K | $44.0K | $43.0K | $43.0K | $43.0K | $43.0K | $36.0K | $36.0K | $36.0K | $36.0K | $36.0K | |
| Paid-in Capital | $460M | $436M | $419M | $416M | $413M | $408M | $407M | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $-500M | $-425M | $-460M | $-421M | $-408M | $-392M | $-376M | $-364M | $-359M | $-331M | $-320M | $-311M | $-305M | $-301M | $-288M | $-283M | |
| AOCI | $4M | $5M | $6M | $6M | $6M | $2M | $-35.0K | $3M | $1M | $2M | $3M | $516.0K | $257.0K | $38.0K | $-289.0K | $-253.0K | |
| Stockholders' Equity | $-35M | $16M | $-36M | $1M | $12M | $19M | $30M | $45M | $47M | $74M | $85M | $83M | $87M | $90M | $101M | $105M | |
| Liabilities + Equity | $124M | $27M | $94M | $110M | $117M | $107M | $114M | $127M | $135M | $159M | $168M | $85M | $89M | $93M | $104M | $110M | |
| Shares Outstanding | 1,017,063 | 13,790,794 | 55,725,291 | 54,494,965 | 53,624,180 | 44,089,142 | 44,001,643 | 43,276,606 | 43,276,606 | 43,215,233 | 42,973,215 | 36,343,632 | 36,327,995 | 36,278,433 | 36,136,480 | 36,130,306 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $41.0K | $36.0K | $39.0K | $36.0K | $35.0K | $32.0K | $16.0K | $86.0K | $44.0K | $40.0K | $304.0K | $0 | $1.0K | $17.0K | $42.0K | $40.0K | |
| Stock-based Comp | $12M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $694.0K | |
| Operating Cash Flow | $-19M | $-8M | $-10M | $-10M | $-11M | $-10M | $-8M | $-7M | $-9M | $-8M | $-6M | $-5M | $-4M | $-4M | $-6M | $-7M | |
| CapEx | $0 | $0 | $4.0K | $74.0K | $126.0K | $148.0K | $133.0K | $46.0K | $39.0K | $39.0K | $24.0K | $0 | $0 | $136.0K | $78.0K | $50.0K | |
| Investing Cash Flow | $8M | $12M | $8M | $-2M | $6M | $11M | $11M | $7M | $-5M | $9M | $5M | $4M | $-20M | $6M | $19M | $-9M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | · | · | |
| Financing Cash Flow | $109M | $9M | $2M | $1M | $14M | $87.0K | $0 | $-5M | $35.0K | $190.0K | $57.0K | $10.0K | $26.0K | $50.0K | $-18.0K | $-5.0K | |
| Net Change in Cash | $98M | $12M | $-643.0K | $-10M | $9M | $2M | $4M | $-5M | $-14M | $1M | $-880.0K | $-1M | $-24M | $2M | $13M | $-15M | |
| Free Cash Flow | · | $-8M | · | · | · | $-10M | · | · | · | $-8M | · | · | · | $-4M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -62.6% | 53.7% | · | -11.4% | -12.7% | -11.3% | · | -5.2% | -24.8% | -8.8% | · | -5.5% | -4.7% | -11.7% | · | -6.2% | |
| ROE | 640.0% | 209.7% | · | -58.5% | -54.7% | -32.4% | · | -8.6% | -41.4% | -13.6% | · | -5.7% | -4.9% | -12.5% | · | -6.7% | |
| ROIC | · | · | · | · | · | -80.2% | · | · | · | · | · | · | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 14.5 | 2.9 | · | 1.1 | 5.0 | 4.0 | · | 9.5 | 6.1 | 7.2 | · | 37.8 | 45.4 | 29.7 | · | 19.9 | |
| Quick Ratio | 13.6 | 2.1 | · | 0.2 | 2.3 | 0.9 | · | 8.8 | 5.8 | 6.9 | · | 9.5 | 10.6 | 13.6 | · | 4.4 | |
| Debt / Equity | 0.0 | 0.0 | · | 16.5 | · | · | · | · | · | · | · | · | · | · | · | · |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-34.73 | $1.14 | · | $0.02 | $0.22 | $0.42 | · | $1.04 | $1.09 | $1.72 | · | $2.29 | $2.39 | $2.49 | · | $2.89 | |
| Cash Flow / Share | · | $-0.83 | · | · | · | $-0.22 | · | · | · | $-0.19 | · | · | · | $-0.10 | · | · | |
| Cash / Share | $114.04 | $1.32 | · | $0.12 | $0.31 | $0.18 | · | $1.10 | $1.37 | $1.57 | · | $0.57 | $0.57 | $1.17 | · | $0.60 | |
| EPS (TTM) | $-10.43 | $-66.87 | · | $-72.70 | $-72.58 | $-4.47 | · | $-1.24 | $-1.26 | $-0.76 | · | $-0.72 | $-0.79 | $-1.16 | · | $-2.23 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-92M | $-33M | · | $-57M | $-49M | $-61M | · | $-53M | $-53M | $-30M | · | $-28M | $-31M | $-42M | · | $-70M | |
| Market Cap | $19M | $1M | · | $89M | $88M | $59M | · | $34M | $32M | $46M | · | $41M | $55M | $57M | · | $48M | |
| Enterprise Value | $-97M | $-17M | · | $100M | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/E | -1.7 | -0.0 | · | -0.0 | -0.0 | -0.3 | · | -0.6 | -0.6 | -1.4 | · | -1.6 | -1.9 | -1.3 | · | -0.6 | |
| P/B | -0.5 | 0.1 | · | 83.9 | 7.5 | 3.2 | · | 0.7 | 0.7 | 0.6 | · | 0.5 | 0.6 | 0.6 | · | 0.5 | |
| P / Tangible Book | · | 0.1 | · | · | · | · | · | · | · | · | · | 0.5 | 0.6 | 0.6 | · | 0.5 | |
| P / Cash Flow | · | -0.2 | · | · | · | -6.1 | · | · | · | -5.5 | · | · | · | -15.9 | · | · | |
| Earnings Yield | -57.3% | -66207.9% | · | -4460.1% | -4398.8% | -336.1% | · | -159.8% | -168.0% | -71.7% | · | -64.3% | -52.5% | -74.4% | · | -167.7% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Net Income | $-84M | $-57M | $-31M | $-52M | $-90M |
| Diluted EPS | $-1.68 | $-1.31 | $-0.84 | $-1.54 | $-3.03 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | -0.5 | · | · | · | · |
| Current Ratio | 0.5 | 6.1 | 8.1 | 30.5 | 7.9 |
| Quick Ratio | 0.1 | 5.6 | 7.8 | 29.4 | 7.5 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-42M | $-32M | $-18M | $-44M | $-63M |
Institutional owners (13F) 2 filers · $7.1M total · As of Dec. 31, 2025
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
2
Value held
$7.1M
New positions
15
Exited positions
35
Institutional activity — Q1 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 15 (-11 vs prior Q) | 35 (+31 vs prior Q) | 8 (-13 vs prior Q) | 12 (+7 vs prior Q) | -5.2M |
Compared to Q4 2025. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $6,981,450 | 2,084,015 | 98.72% | Shares |
| TWO SIGMA ADVISERS, LP | $90,785 | 27,100 | 1.28% | Shares |
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| David A. Lamond | Nov. 13, 2024 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 24 insiders · 14 officers · 14 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Dirk Thye | CEO and CMO | Jan. 23, 2026 A | 739,885 | 0 | 0 | $0 |
| Christopher P. Lowe | Interim CEO, COO & CFO | March 3, 2022 A | 265,000 | 0 | 0 | $0 |
| Casey Lynch | Chief Executive Officer | Jan. 3, 2022 A | 109,895 | 0 | 0 | $0 |
| Charles S. Ryan | President | Jan. 23, 2026 A | 130,009 | 0 | 0 | $0 |
| Brendan Hannah | CBO, COO & CCO | Jan. 23, 2026 A | 361,827 | 0 | 0 | $0 |
| Brigette Roberts | Chief Corp. Affairs Officer | May 18, 2026 A | · | 0 | 0 | $0 |
| Guenter Janhofer | Chief Scientific Officer | Oct. 23, 2023 A | · | 0 | 0 | $0 |
| Ted Monohon | Chief Accounting Officer & VP | March 6, 2023 S | 27,440 | 0 | 0 | $0 |
| Karen L. Smith | Chief Medical Officer | Feb. 1, 2023 A | 194,690 | 0 | 0 | $0 |
| Leslie Holsinger | EVP, Preclinical Development | June 6, 2022 F | 148,080 | 0 | 0 | $0 |
| Caryn Gordon Mcdowell | Chief Legal & Adm. Officer | June 6, 2022 S | 122,500 | 0 | 0 | $0 |
| Michael J. Detke | Chief Medical Officer | March 3, 2022 A | 140,000 | 0 | 0 | $0 |
| Stephen S. Dominy | Chief Scientific Officer | Jan. 3, 2022 A | 1,217,086 | 0 | 0 | $0 |
| Kristen Gafric | SVP, Legal & Administration | Feb. 6, 2020 A | · | 0 | 0 | $0 |
| David Lamond | Director | June 11, 2026 A | 2,347,545 | 0 | 0 | $0 |
| Christopher J. Senner | Director | June 11, 2026 A | · | 0 | 0 | $0 |
| June Bray | Director | Jan. 2, 2026 A | · | 0 | 0 | $0 |
| Margaret Mcloughlin | Director | Jan. 2, 2026 A | 8,000 | 0 | 0 | $0 |
| Luca Benatti | Director | Dec. 26, 2025 S | 39,179 | 0 | 1 | $-173,500 |
| Rajiv Patni | Director | June 4, 2025 A | · | 0 | 0 | $0 |
| Una S Ryan | Director | June 4, 2025 A | 2,875 | 0 | 0 | $0 |
| Philip S Low | Director | May 19, 2022 A | 63,974 | 0 | 0 | $0 |
| Marwan Sabbagh | Director | March 14, 2022 A | · | 0 | 0 | $0 |
| Kevin Young | Director | June 8, 2020 A | 30,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 1 ETF
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| VXF · VANGUARD INDEX FUNDS | 0.00% | 12,044 SH | Aug. 19, 2026 | Daily |
QNCX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 13 analysts
BUY
Median target
$69.00
+136.3%
4 30.8%
Strong Buy
5 38.5%
Buy
4 30.8%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
6 analysts · 2026-09-20Mean target $75.17 +157.4%
← Below all targets
Current price $29.20
Low$65.00
Mean$75.17
High$98.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
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Source: SEC 10-Q filed Aug 14, 2026