Quince Therapeutics announced top‑line results from its pivotal Phase III Neat trial testing monthly dexamethasone sodium phosphate encapsulated in autologous erythrocytes (eDSP) for ataxia‑telangiectasia (A‑T); the study missed its primary and key secondary endpoints. The miss prompted an immediate halt to development of the candidate and a collapse in the company’s market value. Neat did not achieve statistically significant improvement on the modified International Cooperative Ataxia Rating Scale versus placebo at six months, and clinical global impression measures also failed. Analysts and company statements described the outcome as financially and strategically devastating given the program’s status as the company’s lead asset. The result removes a once‑promising steroid‑based approach for A‑T from the near‑term pipeline and highlights the risk of relying on single pivotal readouts for small biotech valuations.