Quince Therapeutics announced top‑line failure of its pivotal Neat Phase III trial testing dexamethasone sodium phosphate encapsulated in autologous erythrocytes (eDSP) for ataxia‑telangiectasia (A‑T). The trial missed its primary endpoint and key secondary measures; the company said it will discontinue development of eDSP for A‑T. Market reaction was immediate: shares plunged and analysts marked down valuations as the lead asset driving Quince’s equity was effectively removed. The company signaled it will halt the program and reassess corporate strategy and pipeline priorities. The outcome removes a rare‑disease candidate from the clinic and highlights the financial fragility of small biotechs when a single pivotal study fails. It also raises questions for investors and partners about resourcing and de‑risking strategies for orphan programs.