Author argues Quince Therapeutics' LAM-001 (inhaled rapamycin via mTOR delivery) addresses severe unmet needs in post-lung-transplant BOS, PH-ILD, and SAPH, with data showing reversal of BOS and no existing options for declined lung function. The catalyst is phase data expected throughout 2027 and 2028, with operational runway until 2028. Main risk is clinical trial failure or delay, though the author does not explicitly state this.