Quince Therapeutics reported top‑line Neat Phase III results for its erythrocyte‑encapsulated dexamethasone (eDSP) in ataxia‑telangiectasia that failed to meet the primary endpoint; the company announced it would stop development of the eDSP program. The failure drove a sharp, immediate equity sell‑off and prompted reassessments of the company’s core value. Top‑line data showed no statistically significant change versus placebo on the modified ataxia rating scale; secondary endpoints also missed. Management said the outcome removes the lead value driver and the company will refocus resources. Market commentary and analyst notes flagged the setback as a reminder of execution risk for complex delivery platforms in rare‑disease trials.