Quince Therapeutics, Inc. changed its name to IRulya Therapeutics Inc. effective October 9, 2026. Its common stock is expected to begin trading as IRLA on the Nasdaq Capital Market on October 12, moving from the Nasdaq Global Select Market.
Effective October 8, 2026, Brigette Roberts, M.D., became CEO, John Militello, CPA, CFO, and Keith Fandrick COO. Dirk Thye resigned as CEO, Chief Medical Officer and director, and Brendan Hannah resigned as COO, Chief Business Officer and Chief Compliance Officer. Catherine M. Bonuccelli, Leone Patterson, James Valentine and Drayton Wise joined the board; June Bray, David Lamond and Christopher Senner also resigned from the board.
IRulya is focused on LAM-001, an inhaled rapamycin formulation for BOS, PH-ILD and SAPH. Phase 2 studies in BOS and PH-ILD are ongoing; a Phase 2 study in SAPH is anticipated in the fourth quarter of 2026. The company reported a cash balance of $116 million as of June 30, 2026, and expects it to fund operations through the end of 2028. Series C preferred stock will automatically convert effective October 9, 2026, at 5:00 p.m. ET, subject to holder-specific beneficial ownership limitations; the company expects approximately 10,841,470 common shares outstanding following conversion.
Quince Therapeutics, Inc. (QNCX) stockholders approved an issuance of common shares upon conversion of Series C preferred stock and exercise of related warrants, plus exercise of options to purchase common stock of Orphai Therapeutics, LLC. The shares issued under the proposal will represent more than 20% of common shares outstanding; the issuance may, together with certain management and board changes, result in a change of control. A separate proposal approving issuance tied to a private placement also passed.
An amendment effective October 6, 2026, increased authorized common stock from 250,000,000 to 275,000,000 shares. Stockholders approved the 2026 Equity Incentive Plan, with an initial reserve of 821,872 shares plus up to 1,377,845 shares from prior-plan awards not issued in specified circumstances after the plan becomes effective, and the 2026 Employee Stock Purchase Plan, with an initial reserve of 142,045 shares. Both plans provide annual reserve increases from January 1, 2027 through January 1, 2036 under separate formulas, subject to lower increases set by the board.
Of 1,017,063 shares outstanding on the record date, 611,465 shares were present or represented by proxy. Proposals 1–5 passed; Proposal 6 was not presented because there were sufficient votes for Proposals 1–3.
Quince Therapeutics, Inc. (QNCX) disclosed conditional changes to its board: June Bray, David Lamond and Christopher Senner tendered resignations that would take effect two business days after the October 6, 2026 special meeting concludes, contingent on stockholder approval of the Conversion Proposal, Minimum Price Proposal and Authorized Shares Proposal.
On October 1, 2026, the board conditionally approved Catherine Bonuccelli, Leone Patterson, James Valentine and Drayton Wise as directors, effective at the same Effective Time. The expected committee lineup, contingent on the appointments, names Patterson as chair of the Audit and Compensation Committees and Valentine as chair of the Nominating and Corporate Governance Committee. Bonuccelli and Valentine are expected on Audit, Bonuccelli on Compensation, and Wise on Nominating and Corporate Governance.
Quince Therapeutics, Inc. (QNCX) completed the sale of all equity in its Italian subsidiary Quince Therapeutics SpA, related AIDE/eDSP intellectual property, and associated systems to Ayma Therapeutics, Inc. on September 8, 2026 for $450,000 in cash, plus a sharing arrangement on VAT proceeds. The buyer agreed to pay Quince approximately $2.3 million, representing 50% of net proceeds from a $4.6 million VAT receivable collected after the balance sheet date. Pro forma for the divestiture, cash and cash equivalents as of June 30, 2026 increase to $118.2 million and Quince records a preliminary $1.75 million gain on sale, while full-year 2025 net loss narrows to $49.5 million. The company also reports that President Charles Ryan’s employment ended on September 8, 2026 and that, under a separation agreement, he will receive a lump-sum cash payment of $1,014,489.04 based on salary, bonus, and COBRA-related amounts.
Quince Therapeutics, Inc. (QNCX) reports that Nasdaq has notified the company it is not in compliance with Nasdaq Global Select Market Listing Rule 5450(b)(1)(A) because its stockholders’ equity was ($35,324,000) as of June 30, 2026, below the required $10,000,000 minimum.
The notice does not immediately affect trading, and the common stock continues to trade on the Nasdaq Global Select Market under the symbol QNCX. Quince has 45 days, until October 15, 2026, to submit a plan to regain compliance, with a potential extension of up to 180 days, to February 27, 2027, if Nasdaq accepts the plan. The company is evaluating alternatives and has also submitted an initial listing application that, if approved along with required stockholder matters, would support a transfer to the Nasdaq Capital Market under the new name IRulya Therapeutics Inc. and the symbol IRLA.
Quince Therapeutics, Inc. (QNCX) reported a leadership change in which President Charles Ryan and the company determined that his last day of employment will be September 8, 2026. In connection with the end of his service as President, he will be eligible for severance benefits under his existing Executive Change in Control and Severance Agreement dated September 1, 2023, as previously described in Quince Therapeutics’ definitive proxy statement on Schedule 14A filed with the SEC on August 25, 2026.
Quince Therapeutics, Inc. (symbol: QNCX) is the issuer of record for a Form DEF 14A filing submitted to the SEC.
Quince Therapeutics, Inc. is calling a special stockholder meeting to approve the issuance of common shares tied to its Series C Non-Voting Convertible Preferred Stock, related warrants, and options. These issuances will represent more than 20% of existing common stock and, together with management and board changes, may result in a change of control under Nasdaq Listing Rules 5635(a) and 5635(b). Stockholders are also being asked to approve issuances related to a May 2026 private placement under Nasdaq Listing Rule 5635(d).
Quince provides unaudited pro forma condensed consolidated financial information as of June 30, 2026, illustrating the balance sheet impact of automatically converting all Series C Preferred Stock into common stock and reclassifying warrant liabilities to equity after stockholder approval. On a pro forma basis, total assets remain at $123,995 thousand, but warrant liabilities of $6,292 thousand and Series C Preferred Stock of $143,811 thousand are eliminated, and additional paid-in capital increases by $150,092 thousand, shifting total stockholders’ equity from a deficit of $(35,324) thousand to positive equity of $114,779 thousand. Common shares outstanding would increase from 1,017,063 to 12,004,791 after the conversion.
Ikarian Capital, LLC and Neil Shahrestani report beneficial ownership of common stock of Quince Therapeutics, Inc. The reporting persons have shared voting and dispositive power over 91,789 shares of Quince common stock, with no sole voting or dispositive power.
This position represents 9.0% of the outstanding common stock, based on 1,017,063 shares outstanding as of July 29, 2026, as disclosed by Quince. The shares are held by Ikarian Healthcare Master Fund, L.P. and certain separately managed accounts over which Ikarian Capital exercises investment discretion. The parties include customary disclaimers regarding the extent of their beneficial ownership and group status under Sections 13(d) and 13(g).