Another Biotech Massively Outperforms Broader Equities

Another Biotech Massively Outperforms Broader Equities

By: Dylan Sikes – News

Tuesday, March 21, 2023

It was a big day for biotechs in the penny stock space on Tuesday. Following our “Catching A Bid” article we put out during today’s premarket, we noticed yet another biotech company had some pretty major premarket action, which continued into the regular session all the way to the close.

Shares of Quince Therapeutics Inc. (Nasdaq:QNCX) closed up at $1.44/share (+71.10%) on Tuesday after it was announced that Echo lake Capital submitted a proposal to acquire all outstanding shares of common stock at a price of $1.60/share in cash, claiming the stock was undervalued. 

Quince Therapeutics Inc is preclinical stage biopharmaceutical company focused on advancing innovative precision therapeutics for debilitating and rare diseases. The company discovered a broad bone-targeting drug platform designed to precisely deliver small molecules, peptides, or large molecules directly to the site of bone fracture and disease to promote rapid healing with fewer off-target safety concerns compared to non-targeted therapeutics.

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