Dirk Thye, Quince Therapeutics CEO

Quince Ther­a­peu­tics sets up poi­son pill with 'an­ti-takeover ef­fect­s' af­ter in­vestor buy­out bid

Quince Ther­a­peu­tics’ board has put in place a stock plan to de­fend it against an un­so­licit­ed takeover, the com­pa­ny an­nounced Wednes­day.

Known as a poi­son pill, the plan es­sen­tial­ly stops any share­hold­er not fa­vored by the board from ac­quir­ing a large per­cent­age of the com­pa­ny’s stock. Quince is fac­ing an un­so­licit­ed bid from Echo Lake Cap­i­tal to ac­quire all the biotech’s stock for $1.60 per share, valu­ing the com­pa­ny at $58 mil­lion. Echo Lake said Quince has “his­tor­i­cal­ly dis­ap­point­ed in­vestors and cur­rent­ly lacks cred­i­bil­i­ty in the in­vest­ment com­mu­ni­ty.”

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.