(RTTNews) - Shares of Quince Therapeutics, Inc. (QNCX) are moving up about 8 percent on Monday morning trading after the company announced the settlement of its outstanding obligations under its loan from the European Investment Bank for a payment of $5.5 million.
The company's shares are currently trading at $0.09 on the Nasdaq, up 8.79 percent. The stock opened at $0.1133. Over the past year, it has traded in a range of $0.08 to $4.55.
The completion of debt settlement resolves critical debt obligations, allowing the company to advance its restructuring and evaluation of strategic alternatives to maximize shareholder value.
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