$QNCX
Quince Therapeutics, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024058201 Filed on May 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.857M $4.971M
YoY Change -8.82% 29.79%
% of Gross Profit
Research & Development $4.147M $3.702M
YoY Change 206.5% 14.61%
% of Gross Profit
Depreciation & Amortization $44.00K $40.00K
YoY Change 100.0%
% of Gross Profit
Operating Expenses $28.19M $11.22M
YoY Change 404.87% -13.41%
Operating Profit -$28.19M -$11.22M
YoY Change 404.87% -13.41%
Interest Expense $823.0K $887.0K
YoY Change 1.6% 26.71%
% of Operating Profit
Other Income/Expense, Net $91.00K -$399.0K
YoY Change -185.05% 62.2%
Pretax Income -$27.69M -$11.12M
YoY Change 466.32% -11.06%
Income Tax $36.00K $31.00K
% Of Pretax Income
Net Earnings -$27.73M -$11.15M
YoY Change 467.52% -9.02%
Net Earnings / Revenue
Basic Earnings Per Share -$0.64 -$0.26
Diluted Earnings Per Share -$0.64 -$0.26
COMMON SHARES
Basic Shares Outstanding 43.22M 43.22M
Diluted Shares Outstanding 43.10M shares 43.01M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.45M $67.82M
YoY Change -30.51% -20.91%
Cash & Equivalents $7.890M $21.81M
Short-Term Investments $51.56M $46.01M
Other Short-Term Assets $79.00K $48.00K
YoY Change -44.76% -73.18%
Inventory
Prepaid Expenses $443.0K $342.0K
Receivables
Other Receivables
Total Short-Term Assets $63.44M $70.44M
YoY Change -28.36% -23.84%
LONG-TERM ASSETS
Property, Plant & Equipment $246.0K $234.0K
YoY Change 4000.0% 3800.0%
Goodwill $0.00 $17.25M
YoY Change
Intangibles $61.79M $62.25M
YoY Change
Long-Term Investments $78.00K $78.00K
YoY Change -22.0% -84.4%
Other Assets $8.798M $8.467M
YoY Change 8698.0% 8367.0%
Total Long-Term Assets $71.39M $88.85M
YoY Change 24688.54% 10644.01%
TOTAL ASSETS
Total Short-Term Assets $63.44M $70.44M
Total Long-Term Assets $71.39M $88.85M
Total Assets $134.8M $159.3M
YoY Change 51.77% 70.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.405M $2.070M
YoY Change 581.3% 25.38%
Accrued Expenses $2.916M $3.020M
YoY Change 82.36% 106.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.32M $9.838M
YoY Change 428.74% 215.83%
LONG-TERM LIABILITIES
Long-Term Debt $13.83M $13.52M
YoY Change
Other Long-Term Liabilities $609.0K $599.0K
YoY Change
Total Long-Term Liabilities $609.0K $599.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $10.32M $9.838M
Total Long-Term Liabilities $609.0K $599.0K
Total Liabilities $87.86M $85.12M
YoY Change 4401.08% 2632.42%
SHAREHOLDERS EQUITY
Retained Earnings -$358.5M -$330.8M
YoY Change 17.39% 10.08%
Common Stock $404.4M $403.1M
YoY Change 3.16% 3.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $46.97M $74.18M
YoY Change
Total Liabilities & Shareholders Equity $134.8M $159.3M
YoY Change 51.77% 70.7%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$27.73M -$11.15M
YoY Change 467.52% -9.02%
Depreciation, Depletion And Amortization $44.00K $40.00K
YoY Change 100.0%
Cash From Operating Activities -$8.739M -$8.353M
YoY Change 128.17% 134.04%
INVESTING ACTIVITIES
Capital Expenditures $39.00K $39.00K
YoY Change -71.32%
Acquisitions
YoY Change
Other Investing Activities -$4.939M $8.953M
YoY Change -75.71% 57.62%
Cash From Investing Activities -$4.978M $8.914M
YoY Change -75.5% 60.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 35.00K 190.0K
YoY Change 16.67% 280.0%
NET CHANGE
Cash From Operating Activities -8.739M -8.353M
Cash From Investing Activities -4.978M 8.914M
Cash From Financing Activities 35.00K 190.0K
Net Change In Cash -13.68M 1.061M
YoY Change -43.28% -50.3%
FREE CASH FLOW
Cash From Operating Activities -$8.739M -$8.353M
Capital Expenditures $39.00K $39.00K
Free Cash Flow -$8.778M -$8.392M
YoY Change 129.19% 126.5%

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ProceedsFromSaleOfProductiveAssets
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ProceedsFromSaleOfProductiveAssets
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CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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PaymentsToAcquirePropertyPlantAndEquipment
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NetCashProvidedByUsedInInvestingActivities
8914000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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FinanceLeasePrincipalPayments
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FinanceLeasePrincipalPayments
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ProceedsFromStockOptionsExercised
190000
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
56000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
310000
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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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
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21813000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46714000
CY2024Q1 qncx Right Of Use Asset Obtained In Exchange For Operating Lease Liabilities1
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilities1
227000
CY2023Q1 qncx Right Of Use Asset Obtained In Exchange For Operating Lease Liabilities1
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilities1
0
CY2024Q1 qncx Right Of Use Asset And Financing Lease Liability Reduction As A Result Of Lease Modification
RightOfUseAssetAndFinancingLeaseLiabilityReductionAsAResultOfLeaseModification
0
CY2023Q1 qncx Right Of Use Asset And Financing Lease Liability Reduction As A Result Of Lease Modification
RightOfUseAssetAndFinancingLeaseLiabilityReductionAsAResultOfLeaseModification
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CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2024Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
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CY2024Q1 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:6.667%;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;">The 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 business combinations including associated intangible assets and goodwill, contingent </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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>
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
66229000
CY2024Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
73769000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
73538000
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
71135000
CY2024Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
21813000
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
20752000
CY2024Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
46010000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
54307000
CY2024Q1 qncx Weighted Average Remaining Contractual Maturities Of Available For Sale Securities
WeightedAverageRemainingContractualMaturitiesOfAvailableForSaleSecurities
P2M
CY2024Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2024Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0
CY2024Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
66231000
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3000
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
66229000
CY2024Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
20219000
CY2024Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
46010000
CY2024Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
66229000
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
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
342000
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
365000
CY2024Q1 qncx Prepaid Insurance Current
PrepaidInsuranceCurrent
568000
CY2023Q4 qncx Prepaid Insurance Current
PrepaidInsuranceCurrent
809000
CY2024Q1 qncx Prepaid Research And Development Expenses Current
PrepaidResearchAndDevelopmentExpensesCurrent
687000
CY2023Q4 qncx Prepaid Research And Development Expenses Current
PrepaidResearchAndDevelopmentExpensesCurrent
133000
CY2024Q1 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
971000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
993000
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
48000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
81000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2616000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2381000
CY2024Q1 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
3569000
CY2023Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
3463000
CY2024Q1 qncx Assets Held For Sale
AssetsHeldForSale
7000
CY2023Q4 qncx Assets Held For Sale
AssetsHeldForSale
10000
CY2024Q1 us-gaap Other Assets
OtherAssets
8467000
CY2023Q4 us-gaap Other Assets
OtherAssets
8466000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
530000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
507000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
234000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
234000
CY2024Q1 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
1368000
CY2023Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
2340000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
405000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
211000
CY2024Q1 qncx Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
857000
CY2023Q4 qncx Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
564000
CY2024Q1 qncx Accrued Operating Lease Liabilities Current
AccruedOperatingLeaseLiabilitiesCurrent
93000
CY2023Q4 qncx Accrued Operating Lease Liabilities Current
AccruedOperatingLeaseLiabilitiesCurrent
64000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
297000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
257000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3020000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3436000
CY2023Q4 qncx Accrued Severance
AccruedSeverance
341000
CY2022Q4 qncx Accrued Severance
AccruedSeverance
0
CY2024Q1 qncx Accrued Severance Incurred
AccruedSeveranceIncurred
0
CY2023Q1 qncx Accrued Severance Incurred
AccruedSeveranceIncurred
268000
CY2024Q1 qncx Accrued Severance Paid
AccruedSeverancePaid
-128000
CY2023Q1 qncx Accrued Severance Paid
AccruedSeverancePaid
-237000
CY2024Q1 qncx Accrued Severance
AccruedSeverance
213000
CY2023Q1 qncx Accrued Severance
AccruedSeverance
31000
CY2024Q1 us-gaap Severance Costs1
SeveranceCosts1
300000
CY2024Q1 us-gaap Other Restructuring Costs
OtherRestructuringCosts
100000
CY2023Q3 us-gaap Severance Costs1
SeveranceCosts1
500000
CY2024Q1 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
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
576000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
385000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
93000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
64000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
480000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
321000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
573000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
385000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y6M
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y4M24D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0913
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0795
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
105000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
139000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
136000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
130000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
216000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
726000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
153000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
573000
CY2024Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
6800000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y29D
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1274000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1481000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
11053000
CY2024Q1 qncx Long Term Debt Maturities Repayments Of Principal Year Three And Thereafter
LongTermDebtMaturitiesRepaymentsOfPrincipalYearThreeAndThereafter
0
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
11053000
CY2024Q1 qncx Debt Instrument Imputed Interest
DebtInstrumentImputedInterest
2465000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
13518000
CY2024Q1 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
31000000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-11149000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-12254000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43010212
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43010212
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35855200
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35855200
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.34
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10063811
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7986047
CY2023Q4 qncx Nda Acceptance Under Contigent Consideration
NdaAcceptanceUnderContigentConsideration
25000000
CY2023Q4 qncx Probability Discount Rate Of Each Milestone
ProbabilityDiscountRateOfEachMilestone
0.15
CY2023Q4 us-gaap Goodwill
Goodwill
17625000
CY2024Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-380000
CY2024Q1 us-gaap Goodwill
Goodwill
17245000

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