Quince Therapeutics Renames as IRulya Therapeutics, Advances Pulmonary Drug Development

Quince Therapeutics (NASDAQ:QNCX) has changed its name to IRulya Therapeutics Inc., effective October 9, 2026, as the biotechnology company shifts its focus towards developing an inhaled treatment for several serious lung diseases.

The company announced that its shares will begin trading on the Nasdaq Capital Market under the new ticker symbol IRLA on October 12, replacing QNCX.

The rebranding follows Quince’s merger with privately held Orphai Therapeutics and a concurrent private placement completed in May 2026, which generated approximately $115 million in gross proceeds.

IRulya will concentrate its clinical development activities on LAM-001, an investigational inhaled formulation of rapamycin being evaluated across three pulmonary conditions.

The company reported cash holdings of $116 million as of June 30, 2026, which it expects will support operations through the end of 2028.

LAM-001 Becomes Central Focus of Drug Development Strategy

IRulya’s principal drug candidate, LAM-001, is a once-daily dry powder formulation of rapamycin administered through inhalation.

Rapamycin inhibits the mechanistic target of rapamycin (mTOR), a signalling pathway involved in cellular growth and other biological processes.

The company is developing the inhaled formulation for pulmonary diseases where targeted delivery of the drug to the lungs may offer a potential therapeutic approach.

LAM-001 remains investigational, and its safety and effectiveness for the conditions being studied have not yet been established.

IRulya is advancing three Phase 2 clinical development programmes involving bronchiolitis obliterans syndrome following lung transplantation, pulmonary hypertension associated with interstitial lung disease and sarcoidosis-associated pulmonary hypertension.

The company has outlined a series of clinical milestones extending through 2028.

Phase 2 Results Expected Across Three Pulmonary Indications

The first anticipated clinical milestone involves LAM-001 in bronchiolitis obliterans syndrome (BOS) following lung transplantation.

BOS is a serious complication affecting some lung transplant recipients and is associated with progressive obstruction of the small airways.

IRulya expects to report Phase 2 data from this programme during the first quarter of 2027.

The company is also evaluating LAM-001 for pulmonary hypertension associated with interstitial lung disease (PH-ILD), a condition involving elevated blood pressure in the pulmonary circulation alongside underlying lung disease.

Results from the Phase 2 PH-ILD programme are anticipated in the first quarter of 2028.

A third development programme will examine LAM-001 in sarcoidosis-associated pulmonary hypertension (SAPH).

Sarcoidosis is an inflammatory disease that can affect the lungs and other organs, while associated pulmonary hypertension can contribute to additional cardiovascular and respiratory complications.

IRulya plans to initiate a Phase 2 study in SAPH during the fourth quarter of 2026, with clinical data expected in the fourth quarter of 2028.

The timing of these milestones remains subject to clinical trial progress, enrolment and other development considerations.

Merger and Private Placement Support Operations Through 2028

The company’s strategic transition follows the completion of its merger with Orphai Therapeutics in May 2026.

The transaction was accompanied by a private placement that raised approximately $115 million before expenses.

As of June 30, IRulya reported a cash balance of $116 million.

Management expects these funds to provide sufficient operating capital through the end of 2028, covering the planned advancement of its pulmonary clinical programmes.

The projected funding period extends beyond the expected readouts for all three Phase 2 studies, although actual expenditure and future financing requirements will depend on clinical development costs and operating activities.

The company’s focus on LAM-001 represents a shift towards a more concentrated drug development strategy following the merger.

The name change and new Nasdaq ticker formalise that transition.

IRulya Appoints New Executive Leadership Team

Alongside the corporate rebranding, IRulya announced changes to its senior management.

Brigette Roberts, M.D., has been appointed chief executive officer, while John Militello will serve as chief financial officer.

Keith R. Fandrick, Ph.D., has been named chief operating officer.

The appointments follow the departures of former chief executive Dirk Thye and former chief operating officer Brendan Hannah, both of whom have resigned.

The company also announced four additions to its board of directors: Catherine Bonuccelli, M.D., Leone Patterson, James Valentine, J.D., M.H.S., and Drayton Wise.

The leadership and board changes accompany the company’s transition towards the clinical development of LAM-001 and its operations under the IRulya Therapeutics name.

Shareholders Approve Preferred Stock Conversion

IRulya also confirmed that shareholders approved the conversion of its Series C preferred stock into common stock on October 6, 2026.

Following the conversion, the company expects approximately 10,841,470 common shares to be outstanding.

The conversion is part of the corporate changes following the merger and financing completed earlier in the year.

With the new name taking effect on October 9 and Nasdaq trading under IRLA scheduled to begin on October 12, IRulya is entering its next phase as a clinical-stage biotechnology company focused on pulmonary diseases.

Investors will be monitoring the planned initiation of the SAPH study in the fourth quarter of 2026 and the anticipated BOS clinical data in early 2027.

The results of these programmes will be important in assessing the potential of LAM-001 and the company’s longer-term development strategy.

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