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Research Grant | 12 Months Ended
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Dec. 31, 2024
Research and Development [Abstract] |
Research Grant | Research Grant In September 2022, Former Elicio entered into a grant agreement with the Gastro-Intestinal (“GI”) Research Foundation, a not-for-profit organization focused on supporting research to treat, cure, and prevent digestive diseases. Of the $2.8 million award, $2.3 million was received in September 2022 and the remaining $0.5 million was received in June 2023 with the completion of the development efforts as defined in the grant agreement. The final $0.5 million payment was applied as a credit to the second grant agreement described below. For the years ended December 31, 2024 and 2023, the Company incurred $0 and $1.9 million, respectively, in research and development expenses related to this project. In September 2023, the Company entered into a second grant agreement with the GI Research Foundation for $3.1 million, with such amount received net of the $0.5 million credit, described above. As of the years ended December 31, 2024 and 2023, the Company incurred $2.2 million and $1.9 million, respectively, in research and development expenses related to this project. As of December 31, 2024, the grant funds available for the second grant agreement were $0 and the deferred research obligation was $0, as the grant agreement was completed in the third quarter of 2024. In August 2024, the Company entered into a third grant agreement with the GI Research Foundation for $1.5 million. The grant funds available as of December 31, 2024 were $1.2 million, which are reflected in restricted cash in the accompanying consolidated balance sheets. The deferred research obligation as of December 31, 2024 was $1.2 million, which was reflected in the deferred research obligation in the accompanying consolidated balance sheets. For the year ended December 31, 2024, the Company incurred $0.3 million in research and development expenses related to this project, of which $0.3 million was applied against the grant funds received. The award money for the three agreements was earned and recognized as a contra research and development expense as the expenses were incurred.

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- Definition The entire disclosure for research, development, and computer software activities, including contracts and arrangements to be performed for others and with federal government. Includes costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility and in-process research and development acquired in a business combination consummated during the period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 730 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483041/730-20-50-1 + Details
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