Quince Therapeutics rejects unsolicited proposal from Echo Lake Capital

Apr. 11, 2023 7:10 AM ETQuince Therapeutics, Inc. (QNCX)By: Deepa Sarvaiya, SA News Editor
  • Quince Therapeutics (NASDAQ:QNCX) has unanimously rejected the unsolicited proposal it received from Echo Lake Capital to acquire Quince for $1.60 per share in cash.
  • The board concludes that Echo Lake Capital’s proposal undervalues the company and is not in the best interest of Quince and its shareholders.
  • Echo Capital made an offer to acquire Quince on March 21 and the biotechnology company adopted poison pill amid unsolicited take over offer on April 05.
  • Source: Press Release

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