Elicio Therapeutics, Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 31, 2025
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
Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net loss | $(51,898) | $(35,195) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 321 | 382 |
| Amortization of right-of-use assets, operating leases | 857 | 788 |
| Amortization of debt discount | 75 | — |
| Non-cash interest expense | 232 | 1,061 |
| Costs expensed upon the issuance of warrants | 549 | — |
| Change in fair value of embedded derivative | — | (429) |
| Change in fair value of warrant liability | 3,886 | 2 |
| Loss on issuance of warrants | 3,502 | — |
| Stock-based compensation | 1,452 | 1,179 |
| Non-cash professional services expense | — | 75 |
| Gain on extinguishment of promissory notes | — | (605) |
| (Gain) loss on disposal of property and equipment | (3) | 105 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 835 | (729) |
| Other long-term prepaid assets | 2,233 | — |
| Accounts payable | (3,331) | 23 |
| Accrued expenses | 4,658 | 2,216 |
| Deferred research obligation | 475 | (742) |
| Operating lease liability | (911) | (825) |
| Net cash used in operating activities | (37,068) | (32,694) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (87) | (66) |
| Proceeds from sale of property and equipment | 3 | 34 |
| Net cash used in investing activities | (84) | (32) |
| 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 common stock warrants from March PIPE | 5,985 | — |
| Proceeds from issuance of common stock warrants from July Public Offering | 11,484 | — |
| Proceeds from issuance of common stock | 4,555 | 6,999 |
| Proceeds from issuance of common stock from July Public Offering | 1,080 | — |
| Payment of warrant issuance costs | (549) | — |
| Proceeds from issuance of senior note, net of issuance costs | 19,727 | — |
| Payment of employee withholding taxes on restricted stock | — | (150) |
| Proceeds from exercise of stock options | 39 | 127 |
| Net cash provided by financing activities | 42,321 | 38,613 |
| Effect of foreign currency on cash | 22 | — |
| Net increase in cash, cash equivalents and restricted cash | 5,191 | 5,887 |
| Cash, cash equivalents and restricted cash at the beginning of the year | 14,301 | 8,414 |
| Cash, cash equivalents and restricted cash at the end of the year | $19,492 | $14,301 |
| Components of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | $17,618 | $12,894 |
| Restricted cash | 1,874 | 1,407 |
| Total cash, cash equivalents and restricted cash | $19,492 | $14,301 |
Consolidated Statements of Cash Flows (continued)
(in thousands)
| Supplemental disclosure of noncash investing and financing activities: | ||
|---|---|---|
| Fair value of pre-funded warrants at issuance date | $13,382 | $— |
| Fair value of common warrants at issuance date | $6,509 | $— |
| Accretion of promissory note discount from embedded derivative | $— | $10,027 |
| Accretion of promissory note to face value | $26 | $130 |
| Settlement of promissory notes payable | $— | $897 |
| Non-cash vesting of restricted common stock | $25 | $67 |
| 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 |
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