Quince Therapeutics (QNCX): Balyasny group discloses 9.99% beneficial stake cap

Rhea-AI Filing Summary

Balyasny Asset Management L.P. and affiliated entities reported a significant ownership position in Quince Therapeutics, Inc. common stock. The group, including BAM GP LLC, Balyasny Asset Management Holdings LP, Dames GP LLC, and Dmitry Balyasny, collectively may be deemed to beneficially own 97,699 shares.

This position represents approximately 9.99% of Quince’s common shares, based on 977,963 shares outstanding as of June 29, 2026. The reported amount includes 69,281 common shares and 28,418 shares issuable upon exercise of 9,405 warrants and conversion of 13,780 Series C Preferred shares, all subject to a 9.99% Beneficial Ownership Limitation.

Each reporting person has sole voting and dispositive power over 97,699 shares and no shared power. The underlying securities are held for investment management clients Atlas Diversified Master Fund, Ltd., Atlas Private Holdings (Cayman) Ltd, Atlas Private Holdings VIII, LLC, and AEF Plus Privates Fund, LLC, which are entitled to dividends and sale proceeds.

Key Figures

Beneficially owned shares: 97,699 shares Ownership percentage: 9.99% Shares outstanding: 977,963 shares +5 more

8 metrics

Beneficially owned shares 97,699 shares Shares that the reporting persons may be deemed to beneficially own

Ownership percentage 9.99% Portion of Quince Therapeutics common stock beneficially owned

Shares outstanding 977,963 shares Common shares outstanding as of June 29, 2026, used for ownership calculation

Direct common shares 69,281 shares Common shares directly held by funds managed by Balyasny Asset Management

Shares issuable from warrants and preferred 28,418 shares Shares issuable upon exercise of 9,405 warrants and 13,780 Series C Preferred shares

Warrants 9,405 warrants Warrants whose exercise would result in issuable shares subject to ownership cap

Series C Preferred shares 13,780 shares Series C Preferred shares convertible into common stock, subject to ownership cap

Sole voting and dispositive power 97,699 shares Shares over which each reporting person has sole voting and dispositive power

Key Terms

Beneficial Ownership Limitation, beneficial owner, sole voting power, sole dispositive power, +2 more

6 terms

Beneficial Ownership Limitation regulatory

"The 9,405 Warrants and 13,780 Preferred Shares are subject to a blocker which prevents the holder from exercising to the extent that, upon such exercise, the holder would beneficially own in excess of 9.99% of the Shares outstanding as a result of the exercise (the "Beneficial Ownership Limitation")."

A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.

beneficial owner regulatory

"Each of the Reporting Persons may be deemed to be the beneficial owner of approximately 9.99% of the Shares, based on 977,963 Shares outstanding as of June 29, 2026."

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.

sole voting power regulatory

"Each of the Reporting Persons has the sole power to vote or to direct the vote of 97699 shares."

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power regulatory

"Each of the Reporting Persons has the sole power to dispose or to direct the disposition of 97699 shares."

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G regulatory

"This statement is being filed by Balyasny Asset Management L.P. and affiliates as a Schedule 13G."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

investment manager financial

"By virtue of its position as the investment manager of Atlas Diversified Master Fund, Ltd. ("ADMF"), the direct holder of the 69,281 shares of common stock, par value $0.001 per share ("Shares"), reported herein..."

FAQ

What ownership stake in QNCX did Balyasny Asset Management report on its Schedule 13G?

Balyasny Asset Management and affiliates reported beneficial ownership of 97,699 shares of Quince Therapeutics, Inc., representing approximately 9.99% of the company’s common stock based on 977,963 shares outstanding as of June 29, 2026.

How is the 97,699-share QNCX position held by Balyasny Asset Management structured?

The 97,699-share position includes 69,281 common shares and 28,418 shares issuable from 9,405 warrants and 13,780 Series C Preferred shares, all aggregated for reporting under the Schedule 13G filing.

What is the Beneficial Ownership Limitation disclosed for Balyasny’s QNCX holdings?

The warrants and Series C Preferred are subject to a 9.99% Beneficial Ownership Limitation, a blocker that prevents exercise or conversion if it would cause beneficial ownership of Quince shares to exceed 9.99% of shares outstanding.

Which entities actually hold the Quince Therapeutics (QNCX) securities managed by Balyasny?

The securities are held by Atlas Diversified Master Fund, Ltd., Atlas Private Holdings (Cayman) Ltd, Atlas Private Holdings VIII, LLC, and AEF Plus Privates Fund, LLC, which are investment management clients of Balyasny Asset Management L.P.

What voting and dispositive power over QNCX shares do the Balyasny reporting persons have?

Each reporting person is disclosed as having sole power to vote and dispose of 97,699 shares of Quince Therapeutics common stock, with no shared voting or dispositive power reported in the Schedule 13G.

On what outstanding share count is Balyasny’s 9.99% QNCX ownership based?

The approximately 9.99% beneficial ownership is calculated using 977,963 Quince Therapeutics shares outstanding as of June 29, 2026, as reported in the company’s Form 8-K/A referenced in the filing.

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

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Available on EDGAR 08/14/2026 - 06:09 AM Accepted by SEC EDGAR 08/14/2026 - 06:07 AM Learn about SEC filing dates

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

(Title of Class of Securities)

22053A305

(CUSIP Number)

06/30/2026

(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

BALYASNY ASSET MANAGEMENT L.P.

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 97,699.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 97,699.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

97,699.00

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)

9.99 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): 22053A305

1

Names of Reporting Persons

BAM GP 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 97,699.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 97,699.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

97,699.00

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)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13G

CUSIP Number(s): 22053A305

1

Names of Reporting Persons

Balyasny Asset Management Holdings 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 97,699.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 97,699.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

97,699.00

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)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, PN

SCHEDULE 13G

CUSIP Number(s): 22053A305

1

Names of Reporting Persons

Dames GP 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 97,699.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 97,699.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

97,699.00

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)

9.99 %

12

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13G

CUSIP Number(s): 22053A305

1

Names of Reporting Persons

Dmitry Balyasny

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 97,699.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 97,699.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

97,699.00

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)

9.99 %

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 Boulevard, Suite 273, South San Francisco, CA, 94080
Item 2.
(a)	Name of person filing: This statement is being filed by (1) Balyasny Asset Management L.P., a Delaware limited partnership ("BAM"), (2) BAM GP LLC, a Delaware limited liability company ("BAM GP"), (3) Balyasny Asset Management Holdings LP, a Delaware limited partnership ("BAM Holdings"), (4) Dames GP LLC, a Delaware limited liability company ("Dames"), and (5) Dmitry Balyasny, a United States citizen (collectively, the "Reporting Persons"). BAM GP is the General Partner of BAM. BAM Holdings is the Sole Member of BAM GP. Dames is the General Partner of BAM Holdings. Dmitry Balyasny is the Managing Member of Dames.
(b)	Address or principal business office or, if none, residence: The principal business address of each of BAM, BAM GP, BAM Holdings, Dames, and Mr. Balyasny is located at 444 West Lake Street, 50th Floor, Chicago, IL 60606.
(c)	Citizenship: (1) BAM is a Delaware limited partnership, (2) BAM GP is a Delaware limited liability company, (3) BAM Holdings is a Delaware limited partnership, (4) Dames is a Delaware limited liability company, and (5) Mr. Balyasny is a United States citizen.
(d)	Title of class of securities: Common Stock
(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: By virtue of its position as the investment manager of Atlas Diversified Master Fund, Ltd. ("ADMF"), the direct holder of the 69,281 shares of common stock, par value $0.001 per share ("Shares"), reported herein, by virtue of its position as the investment manager of Atlas Private Holdings (Cayman) Ltd ("APHC"), the direct holder of 20,677 shares (including 13,780 shares of Series C Preferred and 6,897 shares issuable from the exercise of warrants), by virtue of its position as the investment manager of Atlas Private Holdings VIII, LLC ("APHVIII"), the direct holder of 9,403 shares (including 6,973 shares of Series C Preferred and 2,430 shares issuable from the exercise of warrants), and by virtue of its position as the investment manager of AEF Plus Privates Fund, LLC ("APPF") the direct holder of 302 shares (including 224 shares of Series C Preferred and 78 shares issuable from the exercise of warrants), BAM may be deemed to exercise voting and investment power over such shares held by ADMF, APHC, APHVIII, and APPF and thus may be deemed to beneficially own such shares. By virtue of its position as the General Partner of BAM, BAM GP may be deemed to exercise voting and investment power over the shares held directly by ADMF, APHC, APHVIII, and APPF and thus may be deemed to beneficially own such shares. By virtue of its position as the Sole Member of BAM GP, BAM Holdings may be deemed to exercise voting and investment power over the shares held directly by ADMF, APHC, APHVIII, and APPF and thus may be deemed to beneficially own such shares. By virtue of its position as the General Partner of BAM Holdings, Dames may be deemed to exercise voting and investment power over the shares held directly by ADMF, APHC, APHVIII, and APPF and thus may be deemed to beneficially own such shares. By virtue of his position as the Managing Member of Dames, Mr. Balyasny may be deemed to exercise voting and investment power over the shares held directly by ADMF, APHC, APHVIII, and APPF and thus may be deemed to beneficially own such shares.
(b)	Percent of class: Each of the Reporting Persons may be deemed to be the beneficial owner of approximately 9.99% of the Shares, based on 977,963 Shares outstanding as of June 29, 2026, as reported in the Issuer's report Form 8-K/A filed with the Securities and Exchange Commission on June 26, 2026. The report amount consists of 69,281 shares and 28,418 shares issuable upon the exercise of 9,405 Warrants and 13,780 Preferred Shares each subject to the Beneficial Ownership Limitation (as defined herein). The 9,405 Warrants and 13,780 Preferred Shares are subject to a blocker which prevents the holder from exercising to the extent that, upon such exercise, the holder would beneficially own in excess of 9.99% of the Shares outstanding as a result of the exercise (the "Beneficial Ownership Limitation").
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Each of the Reporting Persons has the sole power to vote or to direct the vote of 97699 shares.
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: Each of the Reporting Persons has the sole power to dispose or to direct the disposition of 97699 shares.
	(iv) Shared power to dispose or to direct the disposition of: 0
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. ADMF and APHC (both Cayman Islands exempted companies), APHVIII and APPF (both Delaware Limited Liability Companies) are investment management clients of BAM, have the right to receive dividends from, or the proceeds from the sale of, the reported securities.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
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 acquired and are held in the ordinary course of business and 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.

BALYASNY ASSET MANAGEMENT L.P.

Signature:	/s/ Scott Schroeder
Name/Title:	Scott Schroeder / Authorized Signatory
Date:	08/14/2026

BAM GP LLC

Signature:	/s/ Scott Schroeder
Name/Title:	Scott Schroeder / Authorized Signatory
Date:	08/14/2026

Balyasny Asset Management Holdings LP

Signature:	/s/ Scott Schroeder
Name/Title:	Scott Schroeder / Authorized Signatory
Date:	08/14/2026

Dames GP LLC

Signature:	/s/ Scott Schroeder
Name/Title:	Scott Schroeder / Authorized Signatory
Date:	08/14/2026

Dmitry Balyasny

Signature:	/s/ Dmitry Balyasny
Name/Title:	Dmitry Balyasny / Self
Date:	08/14/2026