Quince Therapeutics, Inc. Segments Disclosure
Note 15. Segment Information
The Company manages its business activities on a consolidated basis and operates as one operating and reportable segment, which is the business of developing and commercializing the Company's proprietary AIDE technology platform. The key factors used to identify the reportable segments are the organization of its business and alignment of the Company's internal operations and the nature of our AIDE technology. Operating segments are defined as components of an enterprise for which discrete financial information is available and is evaluated regularly by the CODM, in deciding how to allocate resources and assess performance.
The Company’s , who is the CODM, reviews financial information on a consolidated basis for purposes of allocating and evaluating financial performance. The CODM evaluates the Company’s performance and resource allocation by
analyzing consolidated net loss, as reported on the consolidated statement of operations. This assessment involves comparing net loss across prior periods, the Company's forecast, and total expenditures related to eDSP product development and the ongoing Phase 3 NEAT clinical trial.
The measure of segment assets reviewed by the CODM is the consolidated total assets, as reported on the consolidated balance sheet. The following table presents the measure of segment assets regularly provided to the CODM (in thousands):
|
|
December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Cash, cash equivalents and short-term investments |
|
|
17,752 |
|
|
|
40,784 |
|
The following table presents financial information, including significant segment expenses, which are regularly provided to the CODM and included within consolidated statements of operations and comprehensive loss (in thousands):
|
|
Year Ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Research and development: |
|
|
|
|
|
|
||
Personnel |
|
$ |
5,269 |
|
|
$ |
3,724 |
|
Stock-based compensation |
|
|
1,723 |
|
|
|
870 |
|
Clinical and contract manufacturing |
|
|
30,066 |
|
|
|
16,006 |
|
Other |
|
|
(1,676 |
) |
|
|
(2,010 |
) |
General and administrative: |
|
|
|
|
|
|
||
Personnel |
|
|
5,029 |
|
|
|
5,218 |
|
Stock-based compensation |
|
|
3,382 |
|
|
|
3,876 |
|
Consulting and professional costs |
|
|
4,006 |
|
|
|
5,115 |
|
Other |
|
|
2,630 |
|
|
|
3,371 |
|
Goodwill impairment charge |
|
|
— |
|
|
|
17,130 |
|
Fair value adjustment for contingent consideration |
|
|
7,639 |
|
|
|
3,985 |
|
Total operating expenses |
|
|
58,068 |
|
|
|
57,285 |
|
Loss from operations |
|
|
(58,068 |
) |
|
|
(57,285 |
) |
Fair value adjustment for debt |
|
|
(2,043 |
) |
|
|
(1,709 |
) |
Fair value adjustment for warrants |
|
|
(21,470 |
) |
|
|
— |
|
Other segment items |
|
|
(2,398 |
) |
|
|
2,166 |
|
Net loss |
|
$ |
(83,979 |
) |
|
$ |
(56,828 |
) |
Other segment items within net loss include warrant issuance costs, interest income, other income (expense), net, and income tax expense.
The Company’s long-lived assets consist primarily of property, plant and equipment, net, and operating lease right-of-use assets are maintained in Italy. As of December 31, 2025 and 2024, no individual country other than the U.S. accounted for 10% or more of these assets.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Apr 10, 2026 | Showing above |
| 2024 | Mar 24, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.