2024 Q1 Form 10-K Financial Statement

#000095017024039440 Filed on April 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.971M $4.909M $17.70M
YoY Change 29.79% 38.28% -31.97%
% of Gross Profit
Research & Development $3.702M $3.434M $9.447M
YoY Change 14.61% 23.97% -62.48%
% of Gross Profit
Depreciation & Amortization $40.00K $302.0K $300.0K
YoY Change 100.0% 655.0% 47.06%
% of Gross Profit
Operating Expenses $11.22M $9.921M $34.62M
YoY Change -13.41% 56.98% -33.44%
Operating Profit -$11.22M -$34.62M
YoY Change -13.41% -33.44%
Interest Expense $887.0K $1.014M $3.478M
YoY Change 26.71% 87.78% 225.05%
% of Operating Profit
Other Income/Expense, Net -$399.0K $64.00K -$102.0K
YoY Change 62.2% -74.4% -89.77%
Pretax Income -$11.12M -$8.843M -$31.58M
YoY Change -11.06% 59.91% -39.2%
Income Tax $31.00K $51.00K $197.0K
% Of Pretax Income
Net Earnings -$11.15M -$8.894M -$31.39M
YoY Change -9.02% 60.83% -39.25%
Net Earnings / Revenue
Basic Earnings Per Share -$0.26 -$0.84
Diluted Earnings Per Share -$0.26 -$0.22 -$0.84
COMMON SHARES
Basic Shares Outstanding 43.22M 42.87M 37.24M
Diluted Shares Outstanding 43.01M 37.24M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.82M $75.06M $75.06M
YoY Change -20.91% -16.77% -16.79%
Cash & Equivalents $21.81M $20.75M $4.285M
Short-Term Investments $46.01M $54.31M $69.25M
Other Short-Term Assets $48.00K $81.00K $2.381M
YoY Change -73.18% -70.65% -33.86%
Inventory
Prepaid Expenses $342.0K $365.0K
Receivables
Other Receivables
Total Short-Term Assets $70.44M $77.44M $77.44M
YoY Change -23.84% -17.4% -17.35%
LONG-TERM ASSETS
Property, Plant & Equipment $234.0K $234.0K $619.0K
YoY Change 3800.0% -40.46% -11.57%
Goodwill $17.25M $17.63M
YoY Change
Intangibles $62.25M $63.67M
YoY Change 979.19%
Long-Term Investments $78.00K $78.00K $78.00K
YoY Change -84.4% -97.83% -97.83%
Other Assets $8.467M $8.456M $8.466M
YoY Change 8367.0%
Total Long-Term Assets $88.85M $90.46M $90.46M
YoY Change 10644.01% 790.18% 786.86%
TOTAL ASSETS
Total Short-Term Assets $70.44M $77.44M $77.44M
Total Long-Term Assets $88.85M $90.46M $90.46M
Total Assets $159.3M $167.9M $167.9M
YoY Change 70.7% 61.58% 61.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.070M $2.033M $2.033M
YoY Change 25.38% 256.67% 238.83%
Accrued Expenses $3.020M $3.436M $3.436M
YoY Change 106.28% 37.49% 43.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $9.838M $9.572M $9.572M
YoY Change 215.83% 211.89% 208.77%
LONG-TERM LIABILITIES
Long-Term Debt $13.52M $13.43M $13.43M
YoY Change
Other Long-Term Liabilities $599.0K $587.0K $54.51M
YoY Change
Total Long-Term Liabilities $599.0K $587.0K $67.94M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.838M $9.572M $9.572M
Total Long-Term Liabilities $599.0K $587.0K $67.94M
Total Liabilities $85.12M $82.82M $82.82M
YoY Change 2632.42% 2396.71% 2409.58%
SHAREHOLDERS EQUITY
Retained Earnings -$330.8M -$319.6M
YoY Change 10.08% 10.86%
Common Stock $403.1M $6.500M
YoY Change 3.19% -98.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $74.18M $85.08M $85.08M
YoY Change
Total Liabilities & Shareholders Equity $159.3M $167.9M $167.9M
YoY Change 70.7% 61.58% 61.6%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$11.15M -$8.894M -$31.39M
YoY Change -9.02% 60.83% -39.25%
Depreciation, Depletion And Amortization $40.00K $302.0K $300.0K
YoY Change 100.0% 655.0% 47.06%
Cash From Operating Activities -$8.353M -$6.082M -$18.29M
YoY Change 134.04% 4.14% -58.46%
INVESTING ACTIVITIES
Capital Expenditures $39.00K $20.00K $160.0K
YoY Change -71.32% -71.43% 20.3%
Acquisitions
YoY Change
Other Investing Activities $8.953M $5.412M -$5.598M
YoY Change 57.62% -71.14% -130.86%
Cash From Investing Activities $8.914M $5.392M -$5.758M
YoY Change 60.9% -71.1% -131.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 190.0K 53.00K 143.0K
YoY Change 280.0% -365.0% -79.77%
NET CHANGE
Cash From Operating Activities -8.353M -6.082M -18.29M
Cash From Investing Activities 8.914M 5.392M -5.758M
Cash From Financing Activities 190.0K 53.00K 143.0K
Net Change In Cash 1.061M -637.0K -23.83M
YoY Change -50.3% -104.98% -5.24%
FREE CASH FLOW
Cash From Operating Activities -$8.353M -$6.082M -$18.29M
Capital Expenditures $39.00K $20.00K $160.0K
Free Cash Flow -$8.392M -$6.102M -$18.45M
YoY Change 126.5% 3.25% -58.23%

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136000
CY2023 qncx Gain On Sale Of Legacy Assets
GainOnSaleOfLegacyAssets
78000
CY2022 qncx Gain On Sale Of Legacy Assets
GainOnSaleOfLegacyAssets
0
CY2023 qncx Loss On Disposal
LossOnDisposal
37000
CY2022 qncx Loss On Disposal
LossOnDisposal
94000
CY2023 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
1578000
CY2022 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0
CY2023 qncx Increase Decrease In Fair Value Of Borrowings
IncreaseDecreaseInFairValueOfBorrowings
338000
CY2022 qncx Increase Decrease In Fair Value Of Borrowings
IncreaseDecreaseInFairValueOfBorrowings
0
CY2023 qncx Non Cash Goodwill Impairment Charge
NonCashGoodwillImpairmentCharge
0
CY2022 qncx Non Cash Goodwill Impairment Charge
NonCashGoodwillImpairmentCharge
825000
CY2023 qncx Non Cash Intangible Impairment Charge
NonCashIntangibleImpairmentCharge
5900000
CY2022 qncx Non Cash Intangible Impairment Charge
NonCashIntangibleImpairmentCharge
0
CY2023 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
2019000
CY2022 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
113000
CY2023 qncx Change In Deferred Tax Liabilities Due To Acquisition
ChangeInDeferredTaxLiabilitiesDueToAcquisition
248000
CY2022 qncx Change In Deferred Tax Liabilities Due To Acquisition
ChangeInDeferredTaxLiabilitiesDueToAcquisition
284000
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4246000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2580000
CY2023 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
9000
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-194000
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-288000
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-5943000
CY2023 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1972000
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-6660000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18292000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-44038000
CY2023 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
113781000
CY2022 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
75021000
CY2023 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
111209000
CY2022 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
82493000
CY2023 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
0
CY2022 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
10593000
CY2023 qncx Advancement Of Notes Receivable
AdvancementOfNotesReceivable
1000000
CY2022 qncx Advancement Of Notes Receivable
AdvancementOfNotesReceivable
0
CY2023 qncx Cash Paid In Acquisition For Business Net Of Cash Acquired
CashPaidInAcquisitionForBusinessNetOfCashAcquired
2116000
CY2022 qncx Cash Paid In Acquisition For Business Net Of Cash Acquired
CashPaidInAcquisitionForBusinessNetOfCashAcquired
0
CY2023 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
90000
CY2022 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
70000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
160000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
133000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5758000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
18002000
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
6000
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
49000
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
149000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
148000
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
608000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
143000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
707000
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80000
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
184000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-23827000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-25145000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44579000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69724000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20752000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44579000
CY2023 qncx Right Of Use Asset Obtained In Exchange For Operating Lease Liabilities1
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilities1
0
CY2022 qncx Right Of Use Asset Obtained In Exchange For Operating Lease Liabilities1
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilities1
411000
CY2023 qncx Right Of Use Asset And Financing Lease Liability Reduction As A Result Of Lease Modification
RightOfUseAssetAndFinancingLeaseLiabilityReductionAsAResultOfLeaseModification
-70000
CY2022 qncx Right Of Use Asset And Financing Lease Liability Reduction As A Result Of Lease Modification
RightOfUseAssetAndFinancingLeaseLiabilityReductionAsAResultOfLeaseModification
0
CY2023 qncx Right Of Use Asset And Operating Lease Liability Reduction As A Result Of Lease Modification
RightOfUseAssetAndOperatingLeaseLiabilityReductionAsAResultOfLeaseModification
0
CY2022 qncx Right Of Use Asset And Operating Lease Liability Reduction As A Result Of Lease Modification
RightOfUseAssetAndOperatingLeaseLiabilityReductionAsAResultOfLeaseModification
-640000
CY2023 qncx Entity Date Of Incorporation
EntityDateOfIncorporation
2012-06
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-319600000
CY2023Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
75100000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:8%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">T</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">he preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and expenses, as well as related disclosure of contingent assets and liabilities. The most significant estimates used in the Company’s consolidated financial statements relate to the determination of the fair value of stock-based awards and other issuances, determination of the fair value of identifiable assets and liabilities in connection with the acquisition of Novosteo, Inc. and EryDel S.p.A., including associated intangible assets and goodwill, contingent consideration, accruals for research and development costs, useful lives of long-lived assets, stock-based compensation and related assumptions, the incremental borrowing rate for leases and income tax uncertainties, including a valuation allowance for deferred tax assets, eligibility of expenses for the Australia research and development refundable tax credits, impairment of intangible assets or goodwill; and contingencies. The Company bases its estimates on historical experience and on various other market specific and other relevant assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from the Company’s estimates.</span></p>
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:7.933%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Cash equivalents, short-term and long-term investments are financial instruments that potentially subject the Company to concentrations of credit risk. The Company invests in money market funds, repurchase agreements, treasury bills and notes, government bonds, and corporate notes. The Company limits its credit risk associated with cash equivalents, short-term and long-term investments by placing them with banks and institutions it believes are highly credit worthy and in highly rated investments. </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">However, cash balances in excess of Federal Deposit Insurance Corporation (FDIC) insured limit of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.3</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million are at risk.</span></p>
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
300000
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
100000
CY2023Q4 qncx Fair Value Assets Level1 To Level2 Transfers Amount1
FairValueAssetsLevel1ToLevel2TransfersAmount1
0
CY2023Q4 qncx Fair Value Assets Level2 To Level1 Transfers Amount1
FairValueAssetsLevel2ToLevel1TransfersAmount1
0
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2022Q4 qncx Fair Value Assets Level1 To Level2 Transfers Amount1
FairValueAssetsLevel1ToLevel2TransfersAmount1
0
CY2022Q4 qncx Fair Value Assets Level2 To Level1 Transfers Amount1
FairValueAssetsLevel2ToLevel1TransfersAmount1
0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
73538000
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
71135000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
89773000
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
20752000
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
44579000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
54307000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
45602000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
0
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
3578000
CY2023 qncx Weighted Average Remaining Contractual Maturities Of Available For Sale Securities
WeightedAverageRemainingContractualMaturitiesOfAvailableForSaleSecurities
P2M
CY2022 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2023 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2023 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
73548000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
13000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
23000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
73538000
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
19231000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
54307000
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
73538000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
90330000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
5000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
562000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
89773000
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
40593000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
45602000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
3578000
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
89773000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
3966000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
0
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
3704000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
23000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
7670000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
23000
CY2023Q4 qncx Fair Value Assets Level1 To Level2 Transfers Amount1
FairValueAssetsLevel1ToLevel2TransfersAmount1
0
CY2023Q4 qncx Fair Value Assets Level2 To Level1 Transfers Amount1
FairValueAssetsLevel2ToLevel1TransfersAmount1
0
CY2022Q4 qncx Fair Value Assets Level2 To Level1 Transfers Amount1
FairValueAssetsLevel2ToLevel1TransfersAmount1
0
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
54307000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
54307000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
0
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
0
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
0
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
365000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
223000
CY2023Q4 qncx Prepaid Insurance Current
PrepaidInsuranceCurrent
809000
CY2022Q4 qncx Prepaid Insurance Current
PrepaidInsuranceCurrent
977000
CY2023Q4 qncx Prepaid Research And Development Expenses Current
PrepaidResearchAndDevelopmentExpensesCurrent
133000
CY2022Q4 qncx Prepaid Research And Development Expenses Current
PrepaidResearchAndDevelopmentExpensesCurrent
1088000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
81000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
276000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2381000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3567000
CY2023Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
3463000
CY2022Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
0
CY2023Q4 us-gaap Other Assets
OtherAssets
8456000
CY2022Q4 us-gaap Other Assets
OtherAssets
0
CY2023Q4 qncx Assets Held For Sale
AssetsHeldForSale
10000
CY2022Q4 qncx Assets Held For Sale
AssetsHeldForSale
0
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
507000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
185000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
234000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
393000
CY2023 us-gaap Depreciation
Depreciation
300000
CY2022 us-gaap Depreciation
Depreciation
200000
CY2023Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
2340000
CY2022Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
1130000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
211000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
234000
CY2023Q4 qncx Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
564000
CY2022Q4 qncx Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
497000
CY2023Q4 qncx Accrued Operating Lease Liabilities Current
AccruedOperatingLeaseLiabilitiesCurrent
64000
CY2022Q4 qncx Accrued Operating Lease Liabilities Current
AccruedOperatingLeaseLiabilitiesCurrent
377000
CY2023Q4 qncx Accrued Finance Lease Liabilities Current
AccruedFinanceLeaseLiabilitiesCurrent
0
CY2022Q4 qncx Accrued Finance Lease Liabilities Current
AccruedFinanceLeaseLiabilitiesCurrent
-76000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
257000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
185000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3436000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2499000
CY2022Q4 qncx Accrued Severance
AccruedSeverance
0
CY2021Q4 qncx Accrued Severance
AccruedSeverance
0
CY2023 qncx Accrued Severance Incurred
AccruedSeveranceIncurred
770000
CY2022 qncx Accrued Severance Incurred
AccruedSeveranceIncurred
3942000
CY2023 qncx Accrued Severance Paid
AccruedSeverancePaid
-429000
CY2022 qncx Accrued Severance Paid
AccruedSeverancePaid
-3942000
CY2023Q4 qncx Accrued Severance
AccruedSeverance
341000
CY2022Q4 qncx Accrued Severance
AccruedSeverance
0
CY2023 us-gaap Severance Costs1
SeveranceCosts1
300000
CY2023 us-gaap Other Restructuring Costs
OtherRestructuringCosts
100000
CY2023Q3 us-gaap Severance Costs1
SeveranceCosts1
500000
CY2023 qncx Severance Costs Recognized
SeveranceCostsRecognized
100000
CY2023Q3 qncx Additional Cash Bonous Severance Percentage
AdditionalCashBonousSeverancePercentage
1
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
0.50
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
100000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
266000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
572000
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
96000
CY2023 qncx Operating Lease Future Rent Expense
OperatingLeaseFutureRentExpense
400000
CY2023 qncx Finance Lease Amortized Period On Equipment Service
FinanceLeaseAmortizedPeriodOnEquipmentService
P18M
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
6000
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
50000
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
70000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
385000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
291000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
64000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
377000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
321000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
385000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
377000
CY2023Q4 qncx Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
0
CY2022Q4 qncx Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
124000
CY2023Q4 qncx Accumulated Amortization Of Finance Lease
AccumulatedAmortizationOfFinanceLease
0
CY2022Q4 qncx Accumulated Amortization Of Finance Lease
AccumulatedAmortizationOfFinanceLease
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