Stock-Based Compensation (Tables)
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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):
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Three Months Ended March 31, |
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2024 |
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|
2023 |
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General and administrative expense |
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$ |
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:
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Number of Options and Unvested Shares |
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|
Weighted Average Exercise Price |
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|
Weighted average remaining contractual life (years) |
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|
Aggregate intrinsic value |
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|
|
|
|
|
|
|
|
|
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(In thousands) |
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Balance as of December 31, 2023 |
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4,267,178 |
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|
$ |
5.00 |
|
|
|
8.85 |
|
|
$ |
197 |
|
Options granted |
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|
3,242,000 |
|
|
|
1.31 |
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|
|
— |
|
|
|
— |
|
Options exercised |
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|
(149,999 |
) |
|
|
0.94 |
|
|
|
— |
|
|
|
64 |
|
Options cancelled / forfeited |
|
|
— |
|
|
|
0.00 |
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|
|
— |
|
|
|
— |
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Balance as of March 31, 2024 |
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7,359,179 |
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|
$ |
3.45 |
|
|
|
9.09 |
|
|
$ |
201 |
|
Options vested and expected to vest as of March 31, 2024 |
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|
7,359,179 |
|
|
|
3.45 |
|
|
|
9.09 |
|
|
|
201 |
|
Options exercisable as of March 31, 2024 |
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|
1,207,209 |
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|
$ |
13.51 |
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|
|
7.02 |
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|
$ |
28 |
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|
Service Based Stock Options | Novosteo |
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Summary of Stock Options Activity |
Activity for service-based stock options under the 2019 Novosteo Plan is as follows:
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Number of Options and Unvested Shares |
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|
Weighted Average Exercise Price |
|
|
Weighted average remaining contractual life (years) |
|
|
Aggregate intrinsic value |
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|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
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Balance as of December 31, 2023 |
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|
310,431 |
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|
$ |
0.55 |
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|
|
8.23 |
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|
$ |
155 |
|
Options granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Options exercised |
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(90,531 |
) |
|
|
0.55 |
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|
|
— |
|
|
|
74 |
|
Options cancelled / forfeited |
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— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Balance as of March 31, 2024 |
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|
219,900 |
|
|
$ |
0.55 |
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|
|
7.98 |
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|
$ |
112 |
|
Options vested and expected to vest as of March 31, 2024 |
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|
219,900 |
|
|
|
0.55 |
|
|
|
7.98 |
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|
|
112 |
|
Options exercisable as of March 31, 2024 |
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|
64,682 |
|
|
$ |
0.55 |
|
|
|
7.98 |
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|
$ |
33 |
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Service Based Stock Options | 2022 Inducement Plan |
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Summary of Stock Options Activity |
Activity for service-based stock options under the 2022 Inducement Plan is as follows:
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|
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|
Number of Options and Unvested Shares |
|
|
Weighted Average Exercise Price |
|
|
Weighted average remaining contractual life (years) |
|
|
Aggregate intrinsic value |
|
|
|
|
|
|
|
|
|
|
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(In thousands) |
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Balance as of December 31, 2023 |
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2,333,306 |
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|
$ |
2.98 |
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|
|
8.39 |
|
|
|
— |
|
Options granted |
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|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Options exercised |
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|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Options cancelled / forfeited |
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|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
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Balance as of March 31, 2024 |
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2,333,306 |
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|
$ |
2.98 |
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|
|
8.15 |
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|
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— |
|
Options vested and expected to vest as of March 31, 2024 |
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|
2,333,306 |
|
|
|
2.98 |
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|
|
8.15 |
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|
|
— |
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Options exercisable as of March 31, 2024 |
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|
1,069,431 |
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|
$ |
2.98 |
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|
|
8.15 |
|
|
|
— |
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Restricted Stock Awards |
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Summary of Stock Options Activity |
Restricted Stock Awards
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Restricted Stock Awards Outstanding |
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Number of Shares |
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Weighted Average Grant Date Fair Value |
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Unvested - December 31, 2023 |
|
|
175,764 |
|
|
$ |
3.30 |
|
RSAs granted |
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|
— |
|
|
|
— |
|
RSAs vested |
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|
(24,338 |
) |
|
|
3.30 |
|
RSAs cancelled |
|
|
— |
|
|
|
— |
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Unvested - March 31, 2024 |
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|
151,426 |
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|
$ |
3.30 |
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Restricted Stock Units |
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Summary of Stock Options Activity |
The following table summarizes activity under the Company’s RSUs from the Quince 2019 Plan and related information:
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Restricted Stock Units Outstanding |
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Number of Shares |
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Weighted Average Grant Date Fair Value |
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Unvested - December 31, 2023 |
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1,488 |
|
|
$ |
4.30 |
|
RSUs granted |
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|
- |
|
|
|
— |
|
RSUs vested |
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(1,488 |
) |
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|
4.30 |
|
RSUs cancelled |
|
|
— |
|
|
|
— |
|
Unvested - March 31, 2024 |
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— |
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$ |
— |
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