Quince Therapeutics (QNCX) sees Squadron group report 5.6% ownership stake

Rhea-AI Filing Summary

Quince Therapeutics, Inc. has a significant shareholder group associated with Squadron Capital reporting holdings of its common stock. Squadron Master Fund LP, Squadron Capital Management, LLC, and individuals Matthew Sesterhenn and William Blank each report beneficial ownership of 55,173 shares of common stock, representing 5.6% of the class.

The ownership percentage is based on 977,963 shares outstanding following a June 29, 2026 reverse stock split. All four reporting persons indicate shared voting and dispositive power over 55,173 shares and no sole power. The shares are held by private funds advised by Squadron Capital Management, and the adviser and its partners expressly disclaim beneficial ownership under Rule 13d‑4. The funds have the right to receive dividends and sale proceeds from these shares.

Key Figures

Shares owned: 55,173 shares Ownership percentage: 5.6% Shares outstanding baseline: 977,963 shares +2 more

5 metrics

Shares owned 55,173 shares Reported beneficial ownership by each of the Squadron-related reporting persons

Ownership percentage 5.6% Percent of Quince Therapeutics common stock class reported by each reporting person

Shares outstanding baseline 977,963 shares Common stock outstanding as of June 29, 2026 reverse stock split

Shared voting power 55,173 shares Shares over which each reporting person has shared power to vote or direct the vote

Shared dispositive power 55,173 shares Shares over which each reporting person has shared power to dispose or direct disposition

Key Terms

beneficial owner, shared voting power, shared dispositive power, reverse stock split, +2 more

6 terms

beneficial owner financial

"may be deemed to be the beneficial owner of all shares of Common Stock"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

shared voting power financial

"Shared Voting Power 55,173.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 55,173.00"

reverse stock split financial

"as of the June 29, 2026 reverse stock split, as reported by the Issuer"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

Investment Advisers Act of 1940 regulatory

"an investment adviser pending registration under the Investment Advisers Act of 1940"

A U.S. federal law that sets rules for people and firms who give investment advice, requiring them to register with regulators, be honest about conflicts, keep records, and follow basic standards of care. It matters to investors because those rules act like licensing and consumer protections — similar to having safety standards for a mechanic — helping ensure advisers act in clients’ financial interests and reducing the risk of fraud or misuse of funds.

Rule 13d-4 regulatory

"Pursuant to Rule 13d-4 , as amended, Squadron Capital Management, LLC"

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/04/2026 - 03:07 PM Accepted by SEC EDGAR 08/04/2026 - 03:06 PM Learn about SEC filing dates

FAQ

What percentage of Quince Therapeutics (QNCX) does Squadron Master Fund report owning?

Squadron Master Fund LP and related reporting persons each report owning 5.6% of Quince Therapeutics’ common stock, based on 977,963 shares outstanding after a June 29, 2026 reverse stock split.

How many Quince Therapeutics (QNCX) shares are reported by Squadron-related entities?

Squadron Master Fund LP, Squadron Capital Management, LLC, Matthew Sesterhenn, and William Blank each report 55,173 shares of Quince Therapeutics common stock, with shared voting and dispositive power over these shares.

What is the share count baseline used in this Quince Therapeutics (QNCX) Schedule 13G?

The reported 5.6% ownership in Quince Therapeutics is calculated using 977,963 shares of common stock outstanding as of the June 29, 2026 reverse stock split, as reported by the issuer.

Who are the reporting persons in the Quince Therapeutics (QNCX) Schedule 13G?

The reporting persons are Squadron Master Fund LP, Squadron Capital Management, LLC, and individuals Matthew Sesterhenn and William Blank, all tied to investment advisory activities for private funds holding Quince stock.

Do Squadron Capital and its partners disclaim beneficial ownership of Quince Therapeutics (QNCX) shares?

Yes. Squadron Capital Management, LLC and partners Matthew Sesterhenn and William Blank expressly disclaim beneficial ownership of the Quince Therapeutics shares under Rule 13d-4, despite being deemed beneficial owners for reporting purposes.

Who has the right to dividends and sale proceeds from Quince Therapeutics (QNCX) shares?

The Funds advised by Squadron Capital Management, including Squadron Master Fund LP, have the right to receive or direct the receipt of dividends and sale proceeds from the reported Quince Therapeutics common shares.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Quince Therapeutics, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

22053A305

(CUSIP Number)

07/28/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 22053A305

1

Names of Reporting Persons

Squadron Master Fund LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 55,173.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 55,173.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

55,173.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.6 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 22053A305

1

Names of Reporting Persons

Squadron Capital Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 55,173.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 55,173.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

55,173.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.6 %

12

Type of Reporting Person (See Instructions)

IA, HC

SCHEDULE 13G

CUSIP Number(s): 22053A305

1

Names of Reporting Persons

Matthew Sesterhenn

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 55,173.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 55,173.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

55,173.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.6 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 22053A305

1

Names of Reporting Persons

William Blank

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 55,173.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 55,173.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

55,173.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.6 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Quince Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 611 GATEWAY BLVD., SUITE 273, SOUTH SAN FRANCISCO, CALIFORNIA, 94080.
Item 2.
(a)	Name of person filing: Squadron Master Fund LP Squadron Capital Management, LLC Matthew Sesterhenn William Blank
(b)	Address or principal business office or, if none, residence: Squadron Master Fund LP c/o Squadron Capital Management, LLC 1211 West 22nd Street, Suite 1008 Oak Brook, IL 60523 Squadron Capital Management, LLC 1211 West 22nd Street, Suite 1008 Oak Brook, IL 60523 Matthew Sesterhenn c/o Squadron Capital Management, LLC 1211 West 22nd Street, Suite 1008 Oak Brook, IL 60523 William Blank c/o Squadron Capital Management, LLC 1211 West 22nd Street, Suite 1008 Oak Brook, IL 60523
(c)	Citizenship: Squadron Master Fund LP - Delaware Squadron Capital Management, LLC - Delaware Matthew Sesterhenn - United States William Blank - United States
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP Number(s): 22053A305
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Squadron Capital Management, LLC is an investment adviser pending registration under the Investment Advisers Act of 1940. Squadron Capital Management, LLC, which serves as investment adviser to private funds, including but not limited to Squadron Master Fund LP (collectively, the "Funds"), may be deemed to be the beneficial owner of all shares of Common Stock held by the Funds. Mr. Sesterhenn and Mr. Blank, as Partners of Squadron Capital Management, LLC, with the power to exercise investment and voting discretion, may be deemed to be the beneficial owner of all shares of Common Stock held by the Funds. Pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended, Squadron Capital Management, LLC and Mr. Sesterhenn and Mr. Blank expressly disclaim beneficial ownership over any of the securities reported in this statement, and the filing of this statement shall not be construed as an admission that Squadron Capital Management, LLC or Mr. Sesterhenn and Mr. Blank are the beneficial owner of any of the securities reported herein. Squadron Master Fund LP - 55,173 shares Squadron Capital Management, LLC - 55,173 shares Matthew Sesterhenn - 55,173 shares William Blank - 55,173 shares
(b)	Percent of class: Ownership percentage is based on 977,963 shares of common stock outstanding, $0.001 par value per share, as of the June 29, 2026 reverse stock split, as reported by the Issuer on Form 8-K filed with the Securities and Exchange Commission on June 26, 2026. Squadron Master Fund LP - 5.6% Squadron Capital Management, LLC - 5.6% Matthew Sesterhenn - 5.6% William Blank - 5.6%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Squadron Master Fund LP - 0 Squadron Capital Management, LLC - 0 Matthew Sesterhenn - 0 William Blank - 0
	(ii) Shared power to vote or to direct the vote: Squadron Master Fund LP - 55,173 shares Squadron Capital Management, LLC - 55,173 shares Matthew Sesterhenn - 55,173 shares William Blank - 55,173 shares
	(iii) Sole power to dispose or to direct the disposition of: Squadron Master Fund LP - 0 Squadron Capital Management, LLC - 0 Matthew Sesterhenn - 0 William Blank - 0
	(iv) Shared power to dispose or to direct the disposition of: Squadron Master Fund LP - 55,173 shares Squadron Capital Management, LLC - 55,173 shares Matthew Sesterhenn - 55,173 shares William Blank - 55,173 shares
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock covered by this Statement.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Notes above.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Squadron Master Fund LP

Signature:	/s/ Matthew Sesterhenn
Name/Title:	Partner, Squadron Partners LLC, its General Partner
Date:	08/04/2026

Squadron Capital Management LLC

Signature:	/s/ Matthew Sesterhenn
Name/Title:	Partner
Date:	08/04/2026

Matthew Sesterhenn

Signature:	/s/ Matthew Sesterhenn
Name/Title:	Matthew Sesterhenn
Date:	08/04/2026

William Blank

Signature:	/s/ William Blank
Name/Title:	William Blank
Date:	08/04/2026