Common Stock

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Common Stock

Note 9. Common Stock

Equity Transactions

On December 23, 2021, the Company entered into an Open Market Sales Agreement, with Jefferies LLC ("Jefferies"), whereby the Company may sell up to $150.0 million in aggregate proceeds of common stock from time to time, through Jefferies as our sales agent. During the years ended December 31, 2022 and 2021, the Company sold 51,769 and zero shares of common stock, respectively, under this agreement and received net proceeds of $0.6 and $0 million, respectively.

Common Stock

The Company had reserved shares of common stock for future issuance as follows:

	December 31,
	2022		2021
Options issued and outstanding under the Quince 2019 Stock Plan		3,319,711		6,246,293
Shares available for issuance under Quince 2019 Stock Plan		3,747,309		138,926
Shares available for issuance under the Employee Stock Purchase Plan		1,133,165		832,421
Options issued and outstanding under the Novosteo 2019 Plan		503,105		—
Shares available for issuance under Novosteo 2019 Plan		41,880		—
Options issued and outstanding under the 2022 Inducement Plan		3,742,255		—
Shares available for issuance under 2022 Inducement Plan		257,745		—
Total		12,745,170		7,217,640

The Company is authorized to issue 100,000,000 shares of common stock with a par value of $0.001 per share. Each share of common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when and if declared by the board of directors, subject to the prior rights of holders of any preferred stock that may be outstanding at the time. The Company has never declared any dividends on common stock. As of December 31, 2022 and 2021, the Company had 36,136,480 and 30,074,412 shares of common stock issued and outstanding, respectively.