Elicio Therapeutics Inc
For the period ended Dec 31, 2023. Filed Mar 29, 2024.
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FY2023 · Filed Mar 29, 2024
ELTX$1.61-2.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities | ||
| Net loss | $(35,195) | $(28,208) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 382 | 390 |
| Amortization of right-of-use assets, operating leases | 788 | 667 |
| Non-cash interest expense | 1,061 | 3,596 |
| Change in fair value of embedded derivative | (429) | 945 |
| Change in fair value of warrant liability | 2 | — |
| Stock-based compensation | 1,179 | 579 |
| Non-cash professional services expense | 75 | — |
| Gain on extinguishment of promissory notes | (605) | (2) |
| Loss on disposal of property and equipment | 105 | 4 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (729) | (1,985) |
| Other long-term prepaid assets | — | 114 |
| Accounts payable | 23 | 1,125 |
| Accrued expenses and other current liabilities | 2,216 | (305) |
| Deferred research obligation | (742) | 1,436 |
| Operating lease liability | (825) | (535) |
| Net cash used in operating activities | (32,694) | (22,179) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (66) | (654) |
| Proceeds from sale of property and equipment | 34 | — |
| Net cash used in investing activities | (32) | (654) |
| Cash flows from financing activities | ||
| Cash acquired in connection with the reverse merger | 24,001 | — |
| Merger transaction costs | (2,364) | — |
| Proceeds from issuance of promissory notes payable | 10,000 | — |
| Proceeds from issuance of Series C convertible preferred stock, net of issuance costs | — | 21,120 |
| Proceeds from issuance of common stock per purchase agreement | 6,999 | |
| Payment for purchase of treasury stock | (150) | — |
| Proceeds from exercise of stock options | 127 | 82 |
| Net cash provided by financing activities | 38,613 | 21,202 |
| Effect of foreign currency on cash | — | — |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 5,887 | (1,631) |
| Cash, cash equivalents and restricted cash at the beginning of the year | 8,414 | 10,045 |
| Cash, cash equivalents and restricted cash at the end of the year | $14,301 | $8,414 |
| Components of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | $12,894 | $6,156 |
| Restricted cash | 1,407 | 2,258 |
| Total cash, cash equivalents and restricted cash | $14,301 | $8,414 |
| Supplemental disclosure of noncash investing and financing activities: | ||
| Loss on disposal of property and equipment | $105 | $4 |
| Non-cash issuance of Series C convertible preferred stock | $— | $19,501 |
| Settlement of promissory notes payable | $10,027 | $— |
| Accretion of promissory note discount from embedded derivative | $130 | $— |
| Accretion of promissory note to face value | $897 | $— |
| Non-cash vesting of restricted common stock | $67 | $13 |
| Non-cash issuance of common stock from conversion of preferred stock | $111,060 | $— |
| Non-cash issuance of common stock to Angion stockholders | $19,526 | $— |
|---|---|---|
| Non-cash issuance of common stock related to service agreement | $75 | $— |
| Accretion of convertible note discount from embedded derivative | $— | $2,344 |
| Accretion of convertible note discount from issuance costs | $— | $328 |
| Interest expense from convertible notes payable | $— | $923 |
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