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Research Grant
12 Months Ended
Dec. 31, 2025
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.
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. During the year ended December 31, 2024, the Company incurred $2.2 million in research and development expenses related to this project and completed the development efforts defined in the second grant agreement 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. During the years ended December 31, 2025 and 2024, the Company incurred $0.8 million and $0.3 million, respectively, in research and development expenses related to this project, all of which were reimbursed from available grant funds. The third grant agreement activities were completed in the second quarter of 2025.
The award money for the three agreements was recorded as contra-expense to offset the research and development costs incurred. Following completion of the third grant agreement with GI Research Foundation, during 2025, the remaining $0.4 million of the grant funds were recognized as grant income, as there were no further conditions to be met.