QNCX on Nasdaq
IRulya Therapeutics Inc.
In its 2026 annual report the company says: “We are a biotechnology company and, prior to the completion of our NEAT Phase 3 trial, described below, focused our development activities on unlocking the power of a patient’s own biology for the treatment of rare diseases. Our proprietary AIDE technology platform is an innovative drug/device combination that uses an automated process designed to encapsulate a drug into the patient’s own red blood cells.”3 It is headquartered in New Haven, Connecticut.1 Its shares trade on Nasdaq under the symbol QNCX.1
Price unavailable
Last updated Oct 21, 2026.
Overview
- TickerQNCX on Nasdaq1
- IndustryBiological Products, (No Diagnostic Substances)1
- HeadquartersNew Haven, Connecticut1
- Incorporated inDE2
- Business address101 College Street, Suite 210, New Haven, Ct 065102
- Filer categoryNon-accelerated filer, Smaller reporting company2
- Legal formCorporation
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We are a biotechnology company and, prior to the completion of our NEAT Phase 3 trial, described below, focused our development activities on unlocking the power of a patient’s own biology for the treatment of rare diseases. Our proprietary AIDE technology platform is an innovative drug/device combination that uses an automated process designed to encapsulate a drug into the patient’s own red blood cells. Red blood cells have several characteristics that make them an excellent vehicle for drug delivery, potentially including better safety and tolerability, enhanced tissue biodistribution, reduced immunogenicity, and prolongation of circulating half-life. Our AIDE technology is designed to harness these benefits to allow for new and improved therapeutic options for patients living with high unmet medical needs. The AIDE technology platform is believed to confer several benefits over conve…3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.8
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Research and development | $35.4M | $18.6M |
| General and administrative | $15.0M | $17.6M |
| Goodwill impairment charge | $0 | $17.1M |
| Fair value adjustment for contingent consideration | $7.6M | $4.0M |
| Total operating expenses | $58.1M | $57.3M |
| Loss from operations | -$58.1M | -$57.3M |
| Fair value adjustment for debt | -$2.0M | -$1.7M |
| Fair value adjustment for warrants | -$21.5M | $0 |
| Warrant issuance costs | -$914.0K | $0 |
| Interest income | $1.2M | $2.9M |
| Other income (expense), net | $486.0K | -$676.0K |
| Net loss before income tax expense | -$80.8M | -$56.7M |
| Income tax expense | -$3.2M | -$87.0K |
| Net loss | -$84.0M | -$56.8M |
| Foreign currency translation adjustments | $5.8M | -$3.2M |
| Unrealized gain (loss) on available-for-sale securities | -$64.0K | $78.0K |
| Total comprehensive loss | -$78.2M | -$59.9M |
| Net loss per share - basic (in USD per share) | -$1.68 | -$1.31 |
| Net loss per share - diluted (in USD per share) | -$1.68 | -$1.31 |
| Weighted average shares of common stock outstanding - basic (in shares) | 50.1M shares | 43.3M shares |
| Weighted average shares of common stock outstanding - diluted (in shares) | 50.1M shares | 43.3M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.8
| Period ending | 2025-12-31 | 2025-05-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $5.8M | $6.2M | ||
| Short-term investments | $11.9M | $34.6M | ||
| Prepaid expenses and other current assets | $5.1M | $3.3M | ||
| Total current assets | $22.9M | $44.0M | ||
| Property and equipment, net | $595.0K | $315.0K | ||
| Operating lease right-of-use assets | $453.0K | $498.0K | ||
| Intangible assets | $67.8M | $60.0M | ||
| Other assets | $1.8M | $9.6M | ||
| Total assets | $93.5M | $114.5M | ||
| Accounts payable | $2.2M | $2.9M | ||
| Accrued expenses and other current liabilities | $10.6M | $4.4M | ||
| Current portion of debt | $18.0M | $0 | ||
| Short-term contingent consideration | $12.4M | $0 | ||
| Total current liabilities | $43.2M | $7.3M | ||
| Long-term debt | $0 | $14.3M | ||
| Long-term operating lease liabilities | $330.0K | $394.0K | ||
| Long-term contingent consideration | $52.0M | $56.7M | ||
| Deferred tax liabilities | $0 | $5.0M | ||
| Warrant liabilities | $32.1M | $0 | ||
| Other long-term liabilities | $1.6M | $685.0K | ||
| Total liabilities | $129.2M | $84.3M | ||
| Preferred stock, $0.001 par value, 10,000,000 authorized, no shares issued and outstanding as of December 31, 2025 and 2024, respectively. | $0 | $0 | ||
| Common stock, $0.001 par value, 250,000,000 shares authorized, 55,725,291 and 44,001,643 issued and outstanding as of December 31, 2025 and 2024, respectively. | $55.0K | $44.0K | ||
| Additional paid in capital | $418.9M | $406.6M | ||
| Accumulated other comprehensive income (loss) | $5.8M | -$35.0K | ||
| Accumulated deficit | -$460.5M | -$376.5M | ||
| Total stockholders' (deficit) equity | -$35.7M | $30.1M | $85.1M | |
| Total liabilities and stockholders' equity (deficit) | $93.5M | $114.5M | ||
| Preferred stock, par value (in USD per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in USD per share) | $0.00 | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 250.0M shares | 250.0M shares | ||
| Number of Common Stock Issuable | 55.7M shares | 44.0M shares | ||
| Common stock, shares outstanding (in shares) | 55.7M shares | 44.0M shares |
| Period ending | 2025-12-31 | 2025-05-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $5.8M | $6.2M | ||
| Short-term investments | $11.9M | $34.6M | ||
| Prepaid expenses and other current assets | $5.1M | $3.3M | ||
| Total current assets | $22.9M | $44.0M | ||
| Property and equipment, net | $595.0K | $315.0K | ||
| Operating lease right-of-use assets | $453.0K | $498.0K | ||
| Intangible assets | $67.8M | $60.0M | ||
| Other assets | $1.8M | $9.6M | ||
| Total assets | $93.5M | $114.5M | ||
| Accounts payable | $2.2M | $2.9M | ||
| Accrued expenses and other current liabilities | $10.6M | $4.4M | ||
| Current portion of debt | $18.0M | $0 | ||
| Short-term contingent consideration | $12.4M | $0 | ||
| Total current liabilities | $43.2M | $7.3M | ||
| Long-term debt | $0 | $14.3M | ||
| Long-term operating lease liabilities | $330.0K | $394.0K | ||
| Long-term contingent consideration | $52.0M | $56.7M | ||
| Deferred tax liabilities | $0 | $5.0M | ||
| Warrant liabilities | $32.1M | $0 | ||
| Other long-term liabilities | $1.6M | $685.0K | ||
| Total liabilities | $129.2M | $84.3M | ||
| Preferred stock, $0.001 par value, 10,000,000 authorized, no shares issued and outstanding as of December 31, 2025 and 2024, respectively. | $0 | $0 | ||
| Common stock, $0.001 par value, 250,000,000 shares authorized, 55,725,291 and 44,001,643 issued and outstanding as of December 31, 2025 and 2024, respectively. | $55.0K | $44.0K | ||
| Additional paid in capital | $418.9M | $406.6M | ||
| Accumulated other comprehensive income (loss) | $5.8M | -$35.0K | ||
| Accumulated deficit | -$460.5M | -$376.5M | ||
| Total stockholders' (deficit) equity | -$35.7M | $30.1M | $85.1M | |
| Total liabilities and stockholders' equity (deficit) | $93.5M | $114.5M | ||
| Preferred stock, par value (in USD per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in USD per share) | $0.00 | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 250.0M shares | 250.0M shares | ||
| Number of Common Stock Issuable | 55.7M shares | 44.0M shares | ||
| Common stock, shares outstanding (in shares) | 55.7M shares | 44.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.8
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net Loss | -$84.0M | -$56.8M |
| Stock based compensation | $5.1M | $4.7M |
| Depreciation and amortization | $142.0K | $186.0K |
| Change in the fair value of contingent consideration liabilities | $7.6M | $4.0M |
| Change in fair value of debt, net | $1.8M | $1.7M |
| Change in fair value of warrants | $21.5M | $0 |
| Non-cash goodwill impairment charge | $0 | $17.1M |
| Reclassification of cumulative translation adjustment to net income | -$477.0K | $0 |
| Amortization of discount on available-for-sale investments | -$1.0M | -$2.3M |
| Change in deferred tax liabilities | -$5.0M | $0 |
| Prepaid expenses and other current assets | $3.0M | -$1.7M |
| Right of use assets, operating leases and operating lease liabilities | $104.0K | -$135.0K |
| Other assets | $4.2M | -$741.0K |
| Accounts payable | -$940.0K | $927.0K |
| Accrued expenses and other current liabilities | $5.8M | $1.1M |
| Other liabilities | $742.0K | $109.0K |
| Net cash used in operating activities | -$41.4M | -$31.9M |
| Purchase of investments | -$34.4M | -$89.6M |
| Proceeds from maturities of investments | $58.0M | $111.7M |
| Purchase of property and equipment | -$352.0K | -$257.0K |
| Net cash provided by investing activities | $23.2M | $21.9M |
| Payment of contingent consideration | $0 | -$5.0M |
| Proceeds from issuance of common stock, common warrants, and pre-funded warrants pursuant to private placement offering, net of issuance costs | $11.4M | $0 |
| Proceeds from issuance of common stock upon public offering, net of issuance costs | $6.3M | $0 |
| Proceeds from issuance of common stock upon exercise of stock options | $220.0K | $225.0K |
| Net cash provided by (used in) financing activities | $17.9M | -$4.8M |
| Effect of exchange rate changes on cash | -$114.0K | $231.0K |
| Net decrease in cash and cash equivalents | -$403.0K | -$14.5M |
| Interest payment on debt | $234.0K | $0 |
| Right-of-use assets obtained in exchange for new operating lease liabilities | $0 | $216.0K |
No quarter-by-quarter statement was filed.
Corporate structure
IRulya Therapeutics Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of IRulya Therapeutics Inc.
- Foresite Capital Fund VI LP Filed SCHEDULE 13G on IRulya Therapeutics Inc., latest Oct 14, 2026
- PERCEPTIVE ADVISORS LLC Filed SCHEDULE 13G on IRulya Therapeutics Inc., latest Oct 14, 2026
- BALYASNY ASSET MANAGEMENT L.P. Filed SCHEDULE 13G on IRulya Therapeutics Inc., latest Aug 14, 2026
- Cormorant Asset Management, LP Filed SCHEDULE 13G on IRulya Therapeutics Inc., latest Aug 14, 2026
- Ikarian Capital, LLC Filed SCHEDULE 13G on IRulya Therapeutics Inc., latest Aug 14, 2026
- Nantahala Capital Management, LLC Filed SCHEDULE 13G/A on IRulya Therapeutics Inc., latest Aug 14, 2026 (4 filings since Aug 14, 2025)
- Squadron Capital Management LLC Filed SCHEDULE 13G on IRulya Therapeutics Inc., latest Aug 4, 2026
- INTEGRATED CORE STRATEGIES (US) LLC Filed SCHEDULE 13G on IRulya Therapeutics Inc., latest Jun 10, 2026
- GROUP ONE TRADING LLC Filed SCHEDULE 13G on IRulya Therapeutics Inc., latest Mar 5, 2026
- Genextra S.p.A. Filed SCHEDULE 13G/A on IRulya Therapeutics Inc., latest Oct 30, 2025 (3 filings since Dec 15, 2023)
- Sofinnova Partners SAS Filed SCHEDULE 13G/A on IRulya Therapeutics Inc., latest Apr 30, 2025 (4 filings since Feb 12, 2024)
- TANG CAPITAL MANAGEMENT LLC Filed SC 13G/A on IRulya Therapeutics Inc., latest Nov 14, 2024
- IRulya Therapeutics Inc. New Haven, Connecticut
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What IRulya Therapeutics Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Accumulated depreciation | $844.0K8 Dec 31, 2025 | $639.0K8 Dec 31, 2024 | +32.1% |
| Property and equipment, net | $595.0K8 Dec 31, 2025 | $315.0K8 Dec 31, 2024 | +88.9% |
| Operating-lease assets (leased space) | $453.0K8 Dec 31, 2025 | $498.0K8 Dec 31, 2024 | −9.0% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $5.8M8 Dec 31, 2025 | $6.2M8 Dec 31, 2024 | −6.5% |
| Marketable securities, current | $34.6M7 Dec 31, 2024 | $54.3M7 Dec 31, 2023 | −36.3% |
| Debt securities available for sale | $38.3M7 Dec 31, 2024 | $73.5M7 Dec 31, 2023 | −48.0% |
| Stakes in other companies (equity method) | $78.0K8 Dec 31, 2025 | $78.0K8 Dec 31, 2024 | 0% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $08 Dec 31, 2024 | $17.6M8 Dec 31, 2023 | −100.0% |
| Intangible assets, net (excluding goodwill) | $67.8M8 Dec 31, 2025 | $60.0M8 Dec 31, 2024 | +12.9% |
| Finite-lived intangibles, net | $458.0K8 Dec 31, 2025 | $426.0K8 Dec 31, 2024 | +7.5% |
Properties, in its own words
Our corporate headquarters are currently located in South San Francisco, California, where we signed a lease agreement for a smaller office space pursuant to a lease agreement that expires in November 2026. We also have leases in Medolla, in the Province of Modena, Italy where we have our manufacturing facility pursuant to a lease agreement that expires in January 31, 2030 and in Bresso, in the Province of Milan, Italy, for office space pursuant to a lease agreement that expires in August 31, 2028. We believe that these facilities will be adequate for our near-term needs. If required, we believe that suitable additional or alternative space would be available in the future on commercially reasonable terms.
Item 2 of the 10-K filed Apr 10, 2026.3
Leadership
Who has led IRulya Therapeutics Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerChristopher P. Lowe Mar 4, 2022 to Mar 4, 202213
- Chief executive officerDirk Thye May 23, 2022 to now14
- Chief executive officerCasey Lynch May 8, 2019 to Jan 5, 202215
- Chief financial officerChristopher P. Lowe May 8, 2019 to Mar 4, 202216
- Chief operating officerBrendan Hannah Oct 26, 2023 to now17
- Chief operating officerChristopher P. Lowe Feb 11, 2021 to Mar 4, 202218
Board members and other officers (24)
- Chief Corp. Affairs OfficerBrigette Roberts Jun 11, 2026 to now19
- Chief Scientific OfficerGuenter Janhofer Oct 24, 2023 to Oct 24, 202320
- Chief Business OfficerBrendan Hannah May 23, 2022 to Aug 9, 202321
- Chief Medical OfficerKaren L. Smith May 23, 2022 to Feb 2, 202322
- Chief Accounting OfficerTed Monohon Feb 11, 2021 to Mar 6, 202323
- VP OperationsKristen Gafric May 8, 2019 to Feb 10, 202024
- Executive Vice PresidentLeslie Holsinger May 8, 2019 to Jun 8, 202225
- Chief Medical OfficerMichael J. Detke May 8, 2019 to Mar 4, 202226
- Chief Scientific OfficerStephen S. Dominy May 8, 2019 to Jan 5, 202227
- Board memberBrigette Roberts Jun 11, 2026 to now19
- Board memberRajiv Patni Feb 15, 2024 to now28
- Board memberBenatti Luca Oct 24, 2023 to now29
- Board memberMarwan Sabbagh Mar 16, 2022 to Mar 16, 202230
- Board memberDirk Thye May 23, 2022 to now14
- Board memberPhilip S. Low May 23, 2022 to May 23, 202231
- Board memberJune Bray Jun 10, 2022 to now32
- Board memberCasey Lynch May 8, 2019 to Jan 5, 202215
- Board memberChristopher J. Senner May 8, 2019 to now33
- Board memberDavid Lamond May 8, 2019 to now34
- Board memberKevin Young May 8, 2019 to Jun 9, 202035
- Board memberMargaret McLoughlin May 8, 2019 to now36
- Board memberStephen S. Dominy May 8, 2019 to Jan 5, 202227
- Board memberUna S. Ryan May 8, 2019 to now37
- General counselCaryn Gordon McDowell May 15, 2020 to Jun 8, 202238
Named in SEC Form D filings
People the company listed in its private-offering notices.
Former names
Timeline
- Oct 9, 20268-K Executive or director change; Bylaws or fiscal year changed; Regulation FD disclosure41
- Oct 6, 20268-K Executive or director change; Bylaws or fiscal year changed; Shareholder vote42
- Oct 2, 20268-K Executive or director change43
- Sep 14, 20268-K Completed an acquisition or sale; Executive or director change44
- Sep 4, 20268-K Listing notice or transfer45
- Aug 27, 20268-K Executive or director change46
- Aug 17, 20268-K Other events47
- Aug 14, 20268-K Results of operations48
- Jul 31, 20268-K Executive or director change49
- Jul 30, 20268-K Other events50
- Jun 26, 20268-K Change to shareholders' rights; Bylaws or fiscal year changed51
- Jun 26, 20268-K Change to shareholders' rights52
- May 23, 2022New chief executive Dirk Thye becomes CEO14
- Mar 4, 2022New chief executive Christopher P. Lowe becomes CEO13
- May 8, 2019New chief executive Casey Lynch becomes CEO15
Calendar
When it reported results
- Aug 14, 2026Reported quarterly or annual results48
- Feb 12, 2026Reported quarterly or annual results53
- Nov 12, 2025Reported quarterly or annual results54
- Aug 11, 2025Reported quarterly or annual results55
- May 13, 2025Reported quarterly or annual results56
- Mar 24, 2025Reported quarterly or annual results57
- Nov 13, 2024Reported quarterly or annual results58
- Aug 13, 2024Reported quarterly or annual results59
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
297 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 69 major events, 118 insider forms, 34 large holders, 3 private raises, 53 other. The latest 20:
- Oct 14, 2026SCHEDULE 13G EDGAR
- Oct 14, 2026SCHEDULE 13G EDGAR
- Oct 9, 20268-K EDGAR
- Oct 8, 2026S-8 EDGAR
- Oct 6, 20268-K EDGAR
- Oct 2, 2026DEFA14A EDGAR
- Oct 2, 20268-K EDGAR
- Sep 14, 20268-K EDGAR
- Sep 4, 20268-K EDGAR
- Aug 27, 20268-K EDGAR
- Aug 25, 2026DEF 14A EDGAR
- Aug 24, 2026EFFECT EDGAR
- Aug 17, 20268-K EDGAR
- Aug 14, 2026SCHEDULE 13G EDGAR
- Aug 14, 202610-Q EDGAR
- Aug 14, 20268-K EDGAR
- Aug 14, 2026SCHEDULE 13G EDGAR
- Aug 14, 2026SCHEDULE 13G EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 5, 2026S-3/A EDGAR
The 297 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
30 open-market trades by officers, directors and large owners since October 2021: 25 buys and 5 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Dec 26, 2025 | Benatti LucaDirector | Sale | 50,000 | $3.47 | $173.5K | Form 4 |
| Aug 30, 2024 | Thye DirkCEO and CMO | Buy | 77,000 | $0.70 | $53.9K | Form 4 |
| Aug 29, 2024 | Thye DirkCEO and CMO | Buy | 77,500 | $0.69 | $53.5K | Form 4 |
| Aug 21, 2024 | Hannah BrendanCBO, COO & CCO | Buy | 30,845 | $0.63 | $19.3K | Form 4 |
| Aug 20, 2024 | Ryan Charles S.President | Buy | 48,387 | $0.65 | $31.5K | Form 4 |
| Aug 20, 2024 | Hannah BrendanCBO, COO & CCO | Buy | 5,924 | $0.60 | $3.6K | Form 4 |
| Aug 19, 2024 | Hannah BrendanCBO, COO & CCO | Buy | 2,155 | $0.58 | $1.2K | Form 4 |
| Dec 14, 2023 | Lamond DavidDirector | Buy | 22,627 | $1.04 | $23.5K | Form 4 |
| Dec 13, 2023 | Lamond DavidDirector | Buy | 22,627 | $1.00 | $22.6K | Form 4 |
| Dec 12, 2023 | Lamond DavidDirector | Buy | 22,627 | $1.02 | $23.1K | Form 4 |
| Dec 7, 2023 | Lamond DavidDirector | Buy | 19,123 | $1.01 | $19.3K | Form 4 |
| Dec 6, 2023 | Lamond DavidDirector | Buy | 19,123 | $1.02 | $19.5K | Form 4 |
| Dec 5, 2023 | Lamond DavidDirector | Buy | 19,123 | $1.01 | $19.3K | Form 4 |
| Dec 1, 2023 | Lamond DavidDirector | Buy | 14,378 | $0.94 | $13.5K | Form 4 |
| Nov 30, 2023 | Lamond DavidDirector | Buy | 14,378 | $0.90 | $12.9K | Form 4 |
| Nov 29, 2023 | Lamond DavidDirector | Buy | 14,378 | $0.98 | $14.1K | Form 4 |
| Aug 31, 2023 | Lamond DavidDirector | Buy | 41,026 | $1.32 | $54.2K | Form 4 |
| Aug 30, 2023 | Lamond DavidDirector | Buy | 41,026 | $1.31 | $53.7K | Form 4 |
| Aug 17, 2023 | Lamond DavidDirector | Buy | 24,766 | $1.29 | $31.9K | Form 4 |
| Aug 16, 2023 | Lamond DavidDirector | Buy | 117,348 | $1.29 | $151.4K | Form 4 |
All 30 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Foresite Capital Fund VI LPSCHEDULE 13G, 1 filing Oct 14, 202660
- PERCEPTIVE ADVISORS LLCSCHEDULE 13G, 1 filing Oct 14, 202661
- BALYASNY ASSET MANAGEMENT L.P.SCHEDULE 13G, 1 filing Aug 14, 202662
- Cormorant Asset Management, LPSCHEDULE 13G, 1 filing Aug 14, 202663
- Ikarian Capital, LLCSCHEDULE 13G, 1 filing Aug 14, 202664
- Nantahala Capital Management, LLCSCHEDULE 13G/A, 4 filings Aug 14, 2025 to Aug 14, 202665
- Squadron Capital Management LLCSCHEDULE 13G, 1 filing Aug 4, 202666
- INTEGRATED CORE STRATEGIES (US) LLCSCHEDULE 13G, 1 filing Jun 10, 202667
- GROUP ONE TRADING LLCSCHEDULE 13G, 1 filing Mar 5, 202668
- S.p.a. GenextraSCHEDULE 13G/A, 3 filings Dec 15, 2023 to Oct 30, 202569
- Sofinnova Partners SASSCHEDULE 13G/A, 4 filings Feb 12, 2024 to Apr 30, 202570
- TANG CAPITAL MANAGEMENT LLCSC 13G/A, 1 filing Nov 14, 202471
- David LamondSC 13D, 1 filing Nov 13, 202472
- TANG CAPITAL PARTNERS LPSC 13G/A, 2 filings Mar 31, 2023 to Feb 14, 202473
- BML Investment Partners, L.P.SC 13G/A, 2 filings Jul 17, 2023 to Feb 7, 202474
- EPQ LLC, CTYM PSSC 13G/A, 1 filing Feb 13, 202375
- Capital World InvestorsSC 13G/A, 2 filings Feb 11, 2022 to Jul 8, 202276
- PfizerSC 13G/A, 1 filing Feb 14, 202277
- Capital Research Global InvestorsSC 13G/A, 1 filing Feb 11, 202278
- Capital International InvestorsSC 13G/A, 4 filings Oct 8, 2021 to Dec 10, 202179
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Dirk Thye | $550.0K | $2.5M80 | |
| 2025 | Brendan Hannah | $453.8K | $1.3M80 | |
| 2025 | Charles Ryan | $500.0K | $1.1M80 | |
| 2024 | Chief Executive Officer andChief Medical Officer | $550.0K | $2.7M80 | |
| 2024 | Chief Operating OfficerChief Business Officer and Chief Compliance Officer | $425.0K | $1.4M80 | |
| 2024 | President | $500.0K | $893.0K80 |
Money raised
Private offerings the company reported to the SEC on Form D.
- May 18, 2026Raised $114.7 million in a private offering of equity Form D: $186.4 million offered in all Form D
- May 18, 2026Filed a private offering of equity Form D: $7.4 million offered in all Form D
- Jun 18, 2025Raised $11.5 million in a private offering of equity Form D: $21.9 million offered in all Form D
SEC filer profile
How IRulya Therapeutics Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARIRulya Therapeutics Inc.1
- CIK0001662774
- Employer ID (EIN)90-10240393
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
- Incorporated inDelaware3
- Fiscal year endsDecember 311
- Industry code (SIC)2836 Biological Products, (No Diagnostic Substances)1
- SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
- Business address101 College Street, Suite 210, New Haven, CT 065101
- Phone203-208-89941
- Shares outstanding1,017,063 as of Aug 7, 202610
- Public float$64.0M as of Jun 30, 20253
- AuditorBDO USA, P.C., San Jose, California PCAOB ID 243; no auditor attestation of internal control over financial reporting3
- On EDGAR sinceJan 5, 20161
- Filings453 in all: 4 (164), 8-K (79), 3 (28), SC 13G/A (24), 10-Q (23), SC 13G (12), S-8 (10), SCHEDULE 13G (10)1
All 39 form types
DEFA14A (9), CORRESP (8), DEF 14A (8), 10-K (7), 4/A (6), 424B5 (6), D (6), EFFECT (6), SCHEDULE 13G/A (6), PRE 14A (5), UPLOAD (5), 8-K/A (4), ARS (4), S-3 (3), 8-A12B (2), S-1 (2), S-1/A (2), 144 (1), 3/A (1), 424B3 (1), 424B4 (1), 5 (1), CERT (1), DRS (1), NT 10-K (1), POS AM (1), POS EX (1), POSASR (1), S-3/A (1), S-3ASR (1), SC 13D (1)
- Latest filingsAnnual report (10-K) Apr 10, 2026
Quarterly report (10-Q) Aug 14, 2026
Proxy statement (DEF 14A) Aug 25, 2026
Latest 8-K (8-K) Oct 9, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.001 per share | QNCX | Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Apr 10, 2026 (Section 12(b) of the Exchange Act).3
Risk factors and legal proceedings
The risks IRulya Therapeutics Inc. names in Item 1A of its 10-K filed Apr 10, 2026: 45 risks under these headings, as written.3
- Our operations and financial results are subject to various risks and uncertainties, including those described below that could adversely affect our business, financial condition, results of operations, cash flows and the trading price of our common stock. You should carefully consider the following risks, together with all of the other information in this Annual Report on Form 10-K, including our consolidated financial statements and the related notes included elsewhere in this Annual Report on Form 10-K.
- Risks Relating to Our Business and Financial Condition
- Our lead drug candidate, eDSP, did not meet primary or secondary endpoints in the NEAT clinical trial and we do not have resources to pursue further operations. Therefore, we have limited operations and the only opportunity for a return on an investment in our common stock is based on our ability to execute a reverse merger transaction.
- Nasdaq may delist our securities from its exchange, which could adversely affect our ability to execute a strategic transaction and limit our stockholders’ liquidity.
- If we are unable to execute a strategic transaction, may be required to pursue a reorganization proceeding under applicable bankruptcy or insolvency laws, including under Chapters 7 or 11 of the U.S. Bankruptcy Code.
- We have no drug candidates approved for commercial sale, and we expect to continue to generate net losses as we work to evaluate strategic alternatives.
- There is substantial doubt regarding our ability to continue as a going concern. We will need to raise substantial additional funding, which may not be available on acceptable terms, to finance our operations. If we are unable to raise this additional capital when needed or on acceptable terms, we may not be able to successfully execute a strategic transaction and our stockholders will not realize any value from an investment in our business.
- We may become a “shell company” in the future, which would significantly limit our flexibility to raise capital, reduce the liquidity of our securities, and adversely affect our stockholders.
- We have and may be required to make milestone payments to the EryDel shareholders pursuant to the terms of the EryDel Acquisition or with our development and commercialization of eDSP, which could adversely affect the overall profitability of eDSP, if approved.
- We may be exposed to a variety of international risks that could materially adversely affect our business.
- We may not be able to manage our business effectively if we are unable to attract and retain key personnel and consultants, and the loss of such persons could negatively impact the operations of the company.
- Our employees, independent contractors, consultants, commercial partners and vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements and insider trading, which could significantly harm our business.
The other 34 risks
- Our financial results have been in the past and may in the future be adversely affected by impairment charges from the recording of goodwill and intangible assets.
- Unstable market and global economic conditions, including adverse developments affecting the financial services industry, such as actual events or concerns involving liquidity, defaults or non-performance by financial institutions, may have adverse consequences on our business, financial condition and stock price.
- Our failure to maintain certain tax benefits applicable to Italian biotechnology companies may adversely affect our results of operations, our cash flows and our financial condition.
- Risks Relating to Legal Compliance Matters
- Changes in healthcare law and implementing regulations, as well as changes in healthcare policy, may impact our business in ways that we cannot currently predict, and may have a significant adverse effect on our business and results of operations.
- We have relied on third parties to conduct some of our preclinical studies and clinical trials and some aspects of our research and preclinical testing and on third-party contract manufacturing organizations to manufacture and supply
- our preclinical, clinical and commercial materials, and those third parties may not perform satisfactorily, including failing to meet deadlines for the completion of such trials, research, manufacturing or testing.
- Failure (or perceived failure) to comply with health and data protection laws and regulations and other obligations (such as contracts, industry standards, and policies) could lead to government enforcement actions (which could include civil or criminal penalties), private litigation, adverse publicity, and other adverse consequences that could negatively affect our operating results and business.
- If we fail to comply with healthcare laws, we could face substantial penalties and our business, operations and financial condition could be adversely affected.
- If we or any contract manufacturers and suppliers we engage fail to comply with environmental, health, and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business.
- Our business activities may be subject to the FCPA and similar anti-bribery and anti-corruption laws.
- The manufacture of our products requires strict adherence to regulatory requirements governing medical devices and if we or our suppliers encounter problems our business could suffer.
- Our insurance policies are expensive and only protect us from some business risks, which will leave us exposed to significant uninsured liabilities.
- Risks Relating to Our Intellectual Property
- If we are unable to obtain and maintain sufficient intellectual property protection for our proprietary technology and assets, or if the scope of the intellectual property protection is not sufficiently broad, our competitors could develop
- and commercialize drug candidates similar or identical to ours, and the value of such assets may be adversely affected.
- We may be involved in lawsuits to protect or enforce our patents or the patents of our licensors, which could be expensive, time consuming, and unsuccessful. Further, our issued patents could be found invalid or unenforceable if challenged in court, and we may incur substantial costs as a result of litigation or other proceedings relating to patent and other intellectual property rights.
- We may infringe the intellectual property rights of others, which may prevent or delay our drug development efforts and stop us from commercializing or increase the costs of commercializing our drug candidates.
- Maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
- We may be subject to claims that we have wrongfully hired an employee from a competitor or that we or our employees have wrongfully used or disclosed alleged confidential information or trade secrets of their former employers.
- If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed. Our reliance on third parties requires us to share our trade secrets, which increases the possibility that a competitor will discover them or that our trade secrets will be misappropriated or disclosed.
- Because of the expense and uncertainty of litigation, we may not be in a position to enforce our intellectual property rights against third parties.
- Changes in patent law in the United States and other jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our intellectual property.
- We may become subject to claims challenging the inventorship or ownership of our patents and other intellectual property.
- We cannot ensure that patent rights relating to inventions described and claimed in our pending patent applications will issue or that patents based on our patent applications will not be challenged and rendered invalid and/or unenforceable.
- Risks Relating to Owning Our Common Stock
- The market price of our common stock is likely to be volatile and could fluctuate or decline, resulting in a substantial loss of your investment.
- We may be subject to securities class action and stockholder derivative actions. These, and potential similar or related litigation, could result in substantial damages and may divert management’s time and attention from our business and adversely impact our business, results of operations and financial condition.
- Future sales of our common stock in the public market could cause our share price to fall.
- We have never paid dividends on our common stock and we do not intend to pay dividends for the foreseeable future. Consequently, any gains from an investment in our common stock will likely depend on whether the price of our common stock increases.
- Our stockholders may realize little or no value from the divestiture of our legacy assets, and as a result our stock price may decline, we could be subject to litigation, and our business may be adversely affected.
- Our outstanding warrants include put rights upon the occurrence of a fundamental transaction, which could make it difficult for us to complete a fundamental transaction that would otherwise be beneficial to our stockholders.
- General Risk Factors
- Our charter documents and Delaware law could prevent a takeover that stockholders consider favorable and could also reduce the market price of our stock.
- Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware is the sole and exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ abilities to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
- Claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount of money available to us.
- If our internal information systems, those of third parties with whom we work, or our data are or were compromised, we could experience adverse consequences including, but not limited to, regulatory investigations or actions, litigation, fines/penalties, disruptions of our business operations, reputational harm, and loss of revenue or profits.
- Our ability to utilize our federal net operating loss and tax credit carryforwards may be limited.
Legal proceedings
From time to time, we may become involved in legal proceedings arising in the ordinary course of business. We are not currently a party to any litigation or legal proceedings that, in the opinion of our management, are likely to have a material adverse effect on our business. Regardless of outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources, negative publicity and reputational harm and other factors.
The opening of Item 3, Legal Proceedings.3
Sources
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- 14SEC EDGARDirk Thye, Chief executive officer
- 15SEC EDGARCasey Lynch, Chief executive officer
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- 24SEC EDGARKristen Gafric, VP Operations
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- 28SEC EDGARRajiv Patni, Board member
- 29SEC EDGARBenatti Luca, Board member
- 30SEC EDGARMarwan Sabbagh, Board member
- 31SEC EDGARPhilip S. Low, Board member
- 32SEC EDGARJune Bray, Board member
- 33SEC EDGARChristopher J. Senner, Board member
- 34SEC EDGARDavid Lamond, Board member
- 35SEC EDGARKevin Young, Board member
- 36SEC EDGARMargaret McLoughlin, Board member
- 37SEC EDGARUna S. Ryan, Board member
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- 45SEC EDGARListing notice or transfer
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