| Schedule of Stock Options Activity |
Activity for service-based stock options under the Quince 2019 Plan is as follows, as adjusted for the Reverse Stock Split:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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, 2025 |
|
|
1,029,955 |
|
|
$ |
27.36 |
|
|
|
7.97 |
|
|
$ |
18,856 |
|
Options granted |
|
|
278,293 |
|
|
|
30.77 |
|
|
— |
|
|
|
— |
|
Options exercised |
|
— |
|
|
— |
|
|
— |
|
|
|
— |
|
Options cancelled / forfeited |
|
|
(31,926 |
) |
|
|
16.52 |
|
|
— |
|
|
|
— |
|
Balance as of March 31, 2026 |
|
|
1,276,322 |
|
|
$ |
28.37 |
|
|
|
7.84 |
|
|
$ |
— |
|
Options vested and expected to vest as of March 31, 2026 |
|
|
1,276,322 |
|
|
|
28.37 |
|
|
|
7.84 |
|
|
|
— |
|
Options exercisable as of March 31, 2026 |
|
|
581,761 |
|
|
$ |
38.10 |
|
|
|
6.66 |
|
|
$ |
— |
|
Activity for service-based stock options under the 2019 Novosteo Plan is as follows, as adjusted for the Reverse Stock Split:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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, 2025 |
|
|
16,155 |
|
|
$ |
5.50 |
|
|
|
6.23 |
|
|
$ |
452 |
|
Options granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Options exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Options cancelled / forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Balance as of March 31, 2026 |
|
|
16,155 |
|
|
$ |
5.50 |
|
|
|
5.98 |
|
|
$ |
— |
|
Options vested and expected to vest as of March 31, 2026 |
|
|
16,155 |
|
|
|
5.50 |
|
|
|
5.98 |
|
|
|
— |
|
Options exercisable as of March 31, 2026 |
|
|
16,155 |
|
|
$ |
5.50 |
|
|
|
5.98 |
|
|
$ |
— |
|
Activity for service-based stock options under the 2022 Inducement Plan is as follows, as adjusted for the Reverse Stock Split:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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, 2025 |
|
|
233,330 |
|
|
$ |
29.80 |
|
|
|
6.39 |
|
|
|
863 |
|
Options granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Options exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Options cancelled / forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Balance as of March 31, 2026 |
|
|
233,330 |
|
|
$ |
29.80 |
|
|
|
6.15 |
|
|
|
— |
|
Options vested and expected to vest as of March 31, 2026 |
|
|
233,330 |
|
|
|
29.80 |
|
|
|
6.15 |
|
|
|
— |
|
Options exercisable as of March 31, 2026 |
|
|
223,608 |
|
|
$ |
29.80 |
|
|
|
6.15 |
|
|
|
— |
|
|
| Schedule 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, 2026 and 2025 and the allocation within the condensed consolidated statements of operations and comprehensive loss (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
General and administrative expense |
|
$ |
744 |
|
|
$ |
951 |
|
Research and development expense |
|
|
542 |
|
|
|
435 |
|
Total stock-based compensation |
|
$ |
1,286 |
|
|
$ |
1,386 |
|
|