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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
Summary of Employee and Non-Employee Stock-Based Compensation Expense

The following table summarizes employee and non-employee stock-based compensation expense for the three months ended March 31, 2024 and 2023 and the allocation within the condensed consolidated statements of operations and comprehensive loss (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

General and administrative expense

 

$

1,168

 

 

$

1,123

 

Research and development expense

 

 

106

 

 

 

358

 

Total stock-based compensation

 

$

1,274

 

 

$

1,481

 

 

Service Based Stock Options  
Summary of Stock Options Activity

Activity for service-based stock options under the Quince 2019 Plan is as follows:

 

 

Number of
Options and
Unvested
Shares

 

 

Weighted
Average
Exercise Price

 

 

Weighted
average
remaining
contractual
life (years)

 

 

Aggregate
intrinsic
value

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Balance as of December 31, 2023

 

 

4,267,178

 

 

$

5.00

 

 

 

8.85

 

 

$

197

 

Options granted

 

 

3,242,000

 

 

 

1.31

 

 

 

 

 

 

 

Options exercised

 

 

(149,999

)

 

 

0.94

 

 

 

 

 

 

64

 

Options cancelled / forfeited

 

 

 

 

 

0.00

 

 

 

 

 

 

 

Balance as of March 31, 2024

 

 

7,359,179

 

 

$

3.45

 

 

 

9.09

 

 

$

201

 

Options vested and expected to vest as of March 31, 2024

 

 

7,359,179

 

 

 

3.45

 

 

 

9.09

 

 

 

201

 

Options exercisable as of March 31, 2024

 

 

1,207,209

 

 

$

13.51

 

 

 

7.02

 

 

$

28

 

Service Based Stock Options | Novosteo  
Summary of Stock Options Activity

Activity for service-based stock options under the 2019 Novosteo Plan is as follows:

 

 

Number of
Options and
Unvested
Shares

 

 

Weighted
Average
Exercise Price

 

 

Weighted
average
remaining
contractual
life (years)

 

 

Aggregate
intrinsic
value

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Balance as of December 31, 2023

 

 

310,431

 

 

$

0.55

 

 

 

8.23

 

 

$

155

 

Options granted

 

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(90,531

)

 

 

0.55

 

 

 

 

 

 

74

 

Options cancelled / forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of March 31, 2024

 

 

219,900

 

 

$

0.55

 

 

 

7.98

 

 

$

112

 

Options vested and expected to vest as of March 31, 2024

 

 

219,900

 

 

 

0.55

 

 

 

7.98

 

 

 

112

 

Options exercisable as of March 31, 2024

 

 

64,682

 

 

$

0.55

 

 

 

7.98

 

 

$

33

 

 

Service Based Stock Options | 2022 Inducement Plan  
Summary of Stock Options Activity

Activity for service-based stock options under the 2022 Inducement Plan is as follows:

 

 

 

Number of
Options and
Unvested
Shares

 

 

Weighted
Average
Exercise Price

 

 

Weighted
average
remaining
contractual
life (years)

 

 

Aggregate
intrinsic
value

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Balance as of December 31, 2023

 

 

2,333,306

 

 

$

2.98

 

 

 

8.39

 

 

 

 

Options granted

 

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

 

 

 

 

 

 

 

 

Options cancelled / forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of March 31, 2024

 

 

2,333,306

 

 

$

2.98

 

 

 

8.15

 

 

 

 

Options vested and expected to vest as of March 31, 2024

 

 

2,333,306

 

 

 

2.98

 

 

 

8.15

 

 

 

 

Options exercisable as of March 31, 2024

 

 

1,069,431

 

 

$

2.98

 

 

 

8.15

 

 

 

 

 

Restricted Stock Awards  
Summary of Stock Options Activity

Restricted Stock Awards

 

 

 

Restricted Stock Awards Outstanding

 

 

 

Number of Shares

 

 

Weighted Average Grant Date Fair Value

 

Unvested - December 31, 2023

 

 

175,764

 

 

$

3.30

 

RSAs granted

 

 

 

 

 

 

RSAs vested

 

 

(24,338

)

 

 

3.30

 

RSAs cancelled

 

 

 

 

 

 

Unvested - March 31, 2024

 

 

151,426

 

 

$

3.30

 

 

Restricted Stock Units  
Summary of Stock Options Activity

The following table summarizes activity under the Company’s RSUs from the Quince 2019 Plan and related information:

 

 

Restricted Stock Units Outstanding

 

 

 

Number of Shares

 

 

Weighted Average Grant Date Fair Value

 

Unvested - December 31, 2023

 

 

1,488

 

 

$

4.30

 

RSUs granted

 

 

-

 

 

 

 

RSUs vested

 

 

(1,488

)

 

 

4.30

 

RSUs cancelled

 

 

 

 

 

 

Unvested - March 31, 2024

 

 

 

 

$