v3.26.1
Asset Acquisition - Summary of Estimated Fair Value of the Consideration Transferred (Details) - Orphai Therapeutics [Member]
$ in Thousands
May 18, 2026
USD ($)
Business Combination [Line Items]  
Fair value of total consideration transferred $ 56,864
Assumed Share-based Awards [Member]  
Business Combination [Line Items]  
Total Consideration 4,161 [1]
Common Stock [Member]  
Business Combination [Line Items]  
Total Consideration 3,242 [2]
Preferred Stock [Member]  
Business Combination [Line Items]  
Total Consideration 48,146 [3]
Warrant [Member]  
Business Combination [Line Items]  
Total Consideration $ 1,315 [4]
[1] Each outstanding and unexercised option award to purchase shares of Orphai common stock was converted into an option award in respect of a number of shares of common stock of the Company. The calculation of consideration transferred includes the portion of the fair-value-based measure of the acquiree awards that relates to the pre-combination service period. The excess value of the replacement Quince awards as well as the fair-value-based measure of the acquiree award related to the post combination service period will be recorded as post combination compensation cost over the remaining service term.
[2] The fair value of consideration transferred was based on 162,971 shares of Common Stock issued multiplied by the closing price of Quince common stock on the acquisition date of May 18, 2026.
[3] The fair value of 67,101.235 shares of Series C Preferred Stock was based on the fair value of the Series C Preferred Stock issued in the May 2026 Financing. For additional information, see Note 9 to these unaudited condensed consolidated financial statements.
[4] The fair value of the warrants issued was determined utilizing the Black-Scholes-Merton option pricing model. Quince issued 10,964.505 warrants of Series C Preferred Stock. For additional information, see Note 11 to these unaudited condensed consolidated financial statements.