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Grant Receivable
6 Months Ended
Jun. 30, 2020
Grant Receivable  
Grant Receivable

(4) Grant Receivable

In September 2019, the Company received a Notice of Award for a $1.7 million grant from the National Institute on Aging of the National Institutes of Health (the “NIH”) to cover costs of long-term chronic toxicology studies of ANVS401 in rats and dogs. The Company began the long-term chronic toxicology studies in November 2019. The Company recorded a grant receivable of $199,221 and $735,075 as of June 30, 2020 and December 31, 2019, respectively, to reflect unreimbursed, eligible costs incurred under the grant.

The Company recognized grant income of $208,261 and $365,699 for the three and six months ended June 30, 2020, respectively, in connection with the NIH grant and received payments under the grant of $901,553 during the six months ended June 30, 2020.