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Just saw Quince Therapeutics (QNCX) absolutely popping off in premarket - up nearly 57% this morning. Apparently the company brought in LifeSci Capital to explore strategic options, so we're talking potential partnerships, M&A, licensing deals, that kind of thing. Pretty wild move for a biotech stock.
Quince was trading at like $0.13 yesterday and jumped to $0.20 in early trading. The stock has been bouncing between $0.12 and $4.55 over the past year, so this isn't totally out of nowhere. The company's being pretty quiet about the whole process though - said they won't give updates unless the board approves something specific.
Not sure where Quince ends up with this, but when a company starts exploring "strategic alternatives," it usually means something's gotta give. Could be interesting to watch how this plays out. Anyone else holding this or just watching the move?