XML 41 R13.htm IDEA: XBRL DOCUMENT v3.24.0.1
Accrued Expenses
 12 Months Ended
Dec. 31, 2023
Payables and Accruals [Abstract]  
Accrued Expenses

6. Accrued Expenses

 

Accrued expenses consisted of the following at:

   December 31, 2023   December 31, 2022 
Accrued expenses:          
Employee payroll and bonuses  $207,556   $371,010 
Vacation   31,074    27,082 
Research and development projects   85,767    316,389 
Interest   —    223,792 
Professional fees   35,624    24,502 
Other   23,647    31,186 
Total accrued expenses  $383,668   $993,961 

 

 

AZITRA, INC.

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

 

For the Years Ended December 31, 2023 and 2022

 

6. Accrued Expenses (continued)

 

The Company accrues expenses related to development activities performed by third parties based on an evaluation of services received and efforts expended pursuant to the terms of the contractual arrangements. Payments under some of these contracts depend on research and non-clinical trial milestones. There may be instances in which payments made to the Company’s vendors will exceed the level of services provided and result in a prepayment of expense. In accruing service fees, the Company estimates the period over which services will be performed and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual or prepaid expense accordingly. The Company has not experienced any material differences between accrued costs and actual costs incurred since its inception.