Elicio Therapeutics (ELTX) 10-Q 12 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Aug. 10, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Entity Transition Report	false
Entity File Number	001-39990
Entity Registrant Name	ANGION BIOMEDICA CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	11-3430072
Entity Address, Address Line One	51 Charles Lindbergh Boulevard
Entity Address, City or Town	Uniondale
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11553
City Area Code	415
Local Phone Number	655-4899
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	ANGN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		29,798,399
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001601485
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 117,313	$ 34,607
Prepaid expenses and other current assets	2,389	7,690
Total current assets	119,702	42,297
Property and equipment, net	412	156
Right of use assets	4,364	4,072
Investments in related parties	843	822
Other assets	38	0
Total assets	125,359	47,347
Current liabilities
Accounts payable	9,307	5,578
Accrued expenses	4,675	6,665
Lease liability—current	847	611
Deferred revenue—current	5,181	3,942
Warrant liability	514	10,704
Convertible promissory notes payable at fair value	0	51,170
Series C convertible preferred stock at amortized cost	0	26,001
Series C convertible preferred stock at fair value	0	2,518
Other short-term debt	0	260
Total current liabilities	20,524	107,449
Lease liability—noncurrent	3,932	3,847
Deferred revenue—noncurrent	23,714	25,865
Other long-term debt	0	635
Total liabilities	48,170	137,796
Commitments and contingencies—Note 11
Stockholders' equity (deficit)
Common stock, $0.01 par value per share; 300,000,000 and 30,000,000 authorized shares as of June 30, 2021 and December 31, 2020; 30,278,530 and 15,632,809 shares issued as of June 30, 2021 and December 31, 2020, respectively; 29,797,587 and 15,316,721 shares outstanding as of June 30, 2021 and December 31, 2020, respectively	303	156
Treasury stock, 480,943 and 316,088 shares outstanding as of June 30, 2021 and December 31, 2020, respectively	(4,210)	(1,846)
Additional paid-in capital	295,636	72,136
Accumulated other comprehensive loss	(219)	(333)
Accumulated deficit	(214,321)	(160,562)
Total stockholders' equity (deficit)	77,189	(90,449)
Total liabilities and stockholders' equity (deficit)	$ 125,359	$ 47,347

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue:
Contract revenue	$ 540	$ 0	$ 911	$ 0
Grant revenue	0	729	0	1,594
Total revenue	540	729	911	1,594
Operating expenses:
Cost of grant revenue	0	333	0	716
Research and development	14,444	12,230	28,742	21,826
General and administrative	4,340	5,435	10,352	8,890
Total operating expenses	18,784	17,998	39,094	31,432
Loss from operations	(18,244)	(17,269)	(38,183)	(29,838)
Other income (expense)
Change in fair value of warrant liability	200	(456)	(3,319)	(748)
Change in fair value of convertible notes	0	(1,918)	(7,469)	(2,372)
Change in fair value of Series C convertible preferred stock	0	0	(3,592)	0
Gain upon debt extinguishment	905	0	905	0
Foreign exchange transaction (loss) gain	(22)	(239)	(75)	6
(Losses) earnings from equity method investment	(35)	28	20	56
Interest income (expense), net	124	(487)	(2,046)	(667)
Total other income (expense)	1,172	(3,072)	(15,576)	(3,725)
Net loss	(17,072)	(20,341)	(53,759)	(33,563)
Other comprehensive income:
Foreign currency translation adjustment	68	(196)	114	(47)
Comprehensive loss	$ (17,004)	$ (20,537)	$ (53,645)	$ (33,610)
Net loss per common share, basic (in dollars per share)	$ (0.58)	$ (1.40)	$ (2.02)	$ (2.32)
Net loss per common share, diluted (in dollars per share)	$ (0.58)	$ (1.40)	$ (2.02)	$ (2.32)
Weighted average common shares outstanding, basic (in shares)	29,670,329	14,514,670	26,574,290	14,488,746
Weighted average common shares outstanding, diluted (in shares)	29,670,329	14,514,670	26,574,290	14,488,746

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	IPO	Private placement	Non-IPO Related Stock Transactions	Common Stock	Common StockIPO	Common StockPrivate placement	Common StockNon-IPO Related Stock Transactions	Treasury Stock	Additional Paid-in Capital	Additional Paid-in CapitalIPO	Additional Paid-in CapitalPrivate placement	Additional Paid-in CapitalNon-IPO Related Stock Transactions	Accumulated Other Comprehensive loss	Accumulated Deficit
Balance at beginning of period (in shares) at Dec. 31, 2019					14,758,718				(312,164)
Balance at beginning of period at Dec. 31, 2019	$ (18,586)				$ 148				$ (1,810)	$ 63,531				$ 0	$ (80,455)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of broker warrants	151									151
Exercise of broker warrants (in shares)					58,415
Exercise of broker warrants	1				$ 1
Exercise of stock options (in shares)					192,872
Exercise of stock options	(1)				$ 1					(2)
Stock-based compensation	832									832
Foreign currency translation adjustment	149													149
Net loss	(13,222)														(13,222)
Balance at end of period (in shares) at Mar. 31, 2020					15,010,005				(312,164)
Balance at end of period at Mar. 31, 2020	(30,676)				$ 150				$ (1,810)	64,512				149	(93,677)
Balance at beginning of period (in shares) at Dec. 31, 2019					14,758,718				(312,164)
Balance at beginning of period at Dec. 31, 2019	(18,586)				$ 148				$ (1,810)	63,531				0	(80,455)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(47)
Net loss	(33,563)
Balance at end of period (in shares) at Jun. 30, 2020					15,259,820				(312,164)
Balance at end of period at Jun. 30, 2020	(49,097)				$ 152				$ (1,810)	66,626				(47)	(114,018)
Balance at beginning of period (in shares) at Mar. 31, 2020					15,010,005				(312,164)
Balance at beginning of period at Mar. 31, 2020	(30,676)				$ 150				$ (1,810)	64,512				149	(93,677)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of broker warrants	1,017									1,017
Exercise of broker warrants (in shares)					249,815
Exercise of broker warrants	4				$ 2					2
Stock-based compensation	1,095									1,095
Foreign currency translation adjustment	(196)													(196)
Net loss	(20,341)														(20,341)
Balance at end of period (in shares) at Jun. 30, 2020					15,259,820				(312,164)
Balance at end of period at Jun. 30, 2020	(49,097)				$ 152				$ (1,810)	66,626				(47)	(114,018)
Balance at beginning of period (in shares) at Dec. 31, 2020					15,632,809				(316,088)
Balance at beginning of period at Dec. 31, 2020	(90,449)				$ 156				$ (1,846)	72,136				(333)	(160,562)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs (in shares)						5,750,000	1,562,500
Issuance of common stock, net of issuance costs		$ 82,715	$ 24,250			$ 58	$ 16				$ 82,657	$ 24,234
Conversion of convertible preferred stock into common stock upon IPO (in shares)					2,234,640
Conversion of convertible preferred stock into common stock upon initial public offering	35,754				$ 22					35,732
Conversion of convertible notes (in shares)						3,636,189		33,978
Conversion of convertible notes		58,179		$ 460		$ 36					58,143		$ 460
Exercise of warrants (in shares)						844,335		107,038
Exercise of warrants		$ 13,509		$ 680		$ 9		$ 1			$ 13,500		$ 679
Exercise of broker warrants (in shares)					47,188
Exercise of stock options (in shares)					155
Exercise of stock options	1									1
Issuance of common stock upon vesting of restricted stock units and performance stock units (in shares)					204,774
Issuance of common stock upon vesting of restricted stock units and performance stock units	13				$ 2					11
Return of common stock to pay withholding taxes on restricted stock (in shares)									(77,060)
Return of common stock to pay withholding taxes on restricted stock	(1,145)								$ (1,145)
Stock-based compensation	5,117									5,117
Foreign currency translation adjustment	46													46
Net loss	(36,687)														(36,687)
Balance at end of period (in shares) at Mar. 31, 2021					30,053,606				(393,148)
Balance at end of period at Mar. 31, 2021	92,443				$ 300				$ (2,991)	292,670				(287)	(197,249)
Balance at beginning of period (in shares) at Dec. 31, 2020					15,632,809				(316,088)
Balance at beginning of period at Dec. 31, 2020	$ (90,449)				$ 156				$ (1,846)	72,136				(333)	(160,562)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	8,650
Foreign currency translation adjustment	$ 114
Net loss	(53,759)
Balance at end of period (in shares) at Jun. 30, 2021					30,278,530				(480,943)
Balance at end of period at Jun. 30, 2021	77,189				$ 303				$ (4,210)	295,636				(219)	(214,321)
Balance at beginning of period (in shares) at Mar. 31, 2021					30,053,606				(393,148)
Balance at beginning of period at Mar. 31, 2021	92,443				$ 300				$ (2,991)	292,670				(287)	(197,249)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Fractional shares paid out related to the forward stock split	(10)									(10)
Exercise of warrants (in shares)					22,714
Exercise of warrants	176				$ 1					175
Exercise of stock options (in shares)					8,495
Exercise of stock options	79									79
Issuance of common stock upon vesting of restricted stock units and performance stock units (in shares)					193,715
Issuance of common stock upon vesting of restricted stock units and performance stock units	6				$ 2					4
Return of common stock to pay withholding taxes on restricted stock (in shares)									(87,795)
Return of common stock to pay withholding taxes on restricted stock	(1,219)								$ (1,219)
Stock-based compensation	2,718									2,718
Foreign currency translation adjustment	68													68
Net loss	(17,072)														(17,072)
Balance at end of period (in shares) at Jun. 30, 2021					30,278,530				(480,943)
Balance at end of period at Jun. 30, 2021	$ 77,189				$ 303				$ (4,210)	$ 295,636				$ (219)	$ (214,321)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net loss	$ (53,759)	$ (33,563)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	29	74
Amortization of right of use assets	332	267
Amortization of debt issuance costs	1,884	553
Stock-based compensation	7,835	1,927
PPP Loan forgiveness	(905)	0
Change in fair value of convertible notes	7,469	2,372
Change in fair value of Series C convertible preferred stock	3,592	0
Change in fair value of warrant liability	3,319	748
Earnings from equity investment	(45)	(56)
Distribution from equity investment	24	0
Changes in operating assets and liabilities:
Grants receivable	0	156
Prepaid expenses and other current assets	3,315	(2,248)
Other assets	(38)	0
Accounts payable	3,736	5,815
Accrued expenses	1,345	2,702
Lease liabilities	(303)	(284)
Deferred revenue	(912)	0
Net cash used in operating activities	(23,082)	(21,537)
Cash flows from investing activities
Purchase of fixed assets	(285)	(30)
Net cash used in investing activities	(285)	(30)
Cash flows from financing activities
Proceeds from issuance of convertible notes and warrants	0	13,938
Net proceeds from issuance of common stock upon IPO and Concurrent Private Placement, net of discount and commissions	110,560	0
Proceeds from issuance of Series C convertible preferred stock, net of issuance costs	0	6,270
Proceeds from loan from Paycheck Protection Program of the 2020 CARES Act	0	895
Payment of deferred offering costs	(3,073)	(117)
Fractional share payments related to the forward stock split	(10)	0
Taxes paid related to net share settlement upon vesting of restricted stock awards	(2,364)	0
Proceeds from RSU settlement	19	0
Exercise of broker warrants	0	3
Exercise of warrants	856	0
Exercise of stock options	80	1
Net cash provided by financing activities	106,068	20,990
Effect of foreign currency on cash	5	47
Net increase (decrease) in cash and cash equivalents	82,706	(530)
Cash and cash equivalents at the beginning of the period	34,607	5,571
Cash and cash equivalents at the end of the period	117,313	5,041
Supplemental disclosure of noncash investing and financing activities:
Accrued interest premium for Series C convertible preferred stock	0	29
Right of use assets exchanged for operating lease liabilities	624	27
Deferred offering costs in accrued expenses or accounts payable	0	430
IPO
Supplemental disclosure of noncash investing and financing activities:
Conversion of convertible notes into common stock	58,179	0
Conversion of Series C preferred stock into common stock upon IPO	35,754	0
Net exercise of warrants upon IPO	13,509	0
Non-IPO Related Stock Transactions
Supplemental disclosure of noncash investing and financing activities:
Conversion of convertible notes into common stock	$ 460	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	30,000,000
Common stock, shares issued (in shares)	30,278,530	15,632,809
Common stock, shares outstanding (in shares)	29,797,587	15,316,721
Treasury stock, shares outstanding (in shares)	480,943	316,088

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Millions	Feb. 09, 2021	Mar. 31, 2021
IPO
Stock issuance costs		$ 9.3
Private placement
Stock issuance costs	$ 0.7	$ 0.7

Description of the Business and

Description of the Business and Financial Condition	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business and Financial Condition	Description of the Business and Financial Condition Angion Biomedica Corp. ("Angion", the "Company" or “we”) is a late-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapeutics to address acute organ injuries and fibrotic diseases. The Company was incorporated in Delaware in 1998. Forward Stock Split On January 25, 2021, the board of directors of the Company approved an amendment to the Company's certificate of incorporation to effect a forward stock split ("Forward Split") of shares of the Company's common stock on a one-for-1.55583 basis, which was effected on February 1, 2021. All references to common stock, convertible preferred stock, warrants to purchase common stock, stock options, RSAs, RSUs, PSUs, per share amounts and related information contained in the condensed consolidated financial statements have been retroactively adjusted to reflect the effect of the forward stock split for all periods presented. No fractional shares of the Company's common stock were issued in connection with the Forward Split. Any fractional share resulting from the Forward Split was rounded down to the nearest whole share, and any stockholder entitled to fractional shares as a result of the Forward Split will receive a cash payment in lieu of receiving fractional shares. Initial Public Offering and the Concurrent Private Placement On February 9, 2021, the Company closed its Initial Public Offering (“IPO”) of 5,750,000 shares of common stock at a public offering price of $16.00 per share, which includes the full exercise by the underwriters of their option to purchase an additional 750,000 shares of common stock. Aggregate net proceeds to Angion were $85.6 million, after deducting underwriting discounts, commissions and offering expenses of $6.4 million. In addition to the shares being sold in the IPO, Angion sold an additional 1,562,500 shares of its common stock at the public offering price of $16.00 per share to entities affiliated with Vifor International, Ltd., an existing stockholder (the “Concurrent Private Placement”), for aggregate net proceeds of $24.3 million, after deducting a 3% private placement agent fee of $0.7 million. Subsequent to the closing of the IPO, all of the outstanding shares of convertible preferred stock and outstanding convertible notes automatically converted into shares of common stock. Subsequent to the closing of the IPO, there were no shares of convertible preferred stock outstanding and there were no convertible notes outstanding. In connection with the closing of the IPO, the Company restated its Restated Certificate of Incorporation to change the authorized capital stock to 300,000,000 shares designated as common stock, and 10,000,000 shares designated as preferred stock, with a par value of $0.01 per share and $0.01 per share, respectively. Liquidity and Capital Resources Since inception, the Company has devoted substantially all of its efforts and financial resources to conducting research and development activities, including drug discovery and pre-clinical studies and clinical trials, establishing and maintaining its intellectual property portfolio, organizing and staffing the Company, business planning, raising capital and providing general and administrative support for these operations. The Company has incurred losses from operations and negative cash flows from operating activities since inception and expects to continue to incur substantial losses for the next several years as it continues to fully develop and, if approved, commercialize its product candidates. As of June 30, 2021, the Company had $117.3 million in cash and cash equivalents and an accumulated deficit of $214.3 million. Prior to its IPO completed in February 2021, the Company has funded its operations through United States government grants, the issuance of convertible notes (see Note 6), sales of convertible preferred stock and common stock (see Notes 7) and warrants (see Note 10) and licensing agreements (see Note 12). The planned expansion of the Company's clinical and discovery programs will require significant funds. Management expects to continue to incur significant expenses and to incur operating losses for the foreseeable future. The Company believes that its existing cash and cash equivalents will be sufficient to meet the projected operating requirements for at least 12 months from the date of issuance of its financial statements. The Company has evaluated and concluded there are no conditions or events, considered in the aggregate, that raise substantial

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The Company's condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") and include the accounts of the Company, its wholly owned subsidiary, Angion Biomedica Europe Limited, which was dissolved on March 16, 2021, and its wholly owned subsidiary, Angion Pty Ltd., which was established on August 22, 2019. The Company established Angion Pty Ltd., an Australian subsidiary, for the purpose of qualifying for research credits for studies conducted in Australia. All significant intercompany balances and transactions have been eliminated in consolidation. The Company’s remaining significant accounting policies are described in Note 2 to its consolidated financial statements for the year ended December 31, 2020, included in its Annual Report on Form 10-K. There have been no material changes to the Company’s significant accounting policies during the three and six months ended June 30, 2021. Unaudited interim financial information The condensed consolidated financial statements of the Company included herein have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The interim unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements as of and for the year ended December 31, 2020 and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s consolidated financial position, results of operations and comprehensive loss, and cash flows. The condensed consolidated balance sheet as of December 31, 2020 was derived from the audited financial statements as of that date. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this Quarterly Report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K as filed with the SEC on March 30, 2021. The results for any interim period are not necessarily indicative of results for any future period. Segments Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker (“CODM”) in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business as one operating segment. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to the useful lives of long-lived assets, the measurement of stock-based compensation, accruals for research and development activities, income taxes and revenue recognition. The Company bases its estimates on historical experience and on other relevant assumptions that are reasonable under the circumstances. Actual results could materially differ from those estimates. Concentrations of Credit Risk and Off-Balance Sheet Risk Cash and cash equivalents are financial instruments that are potentially subject to concentrations of credit risk. The Company's cash and cash equivalents are deposited in accounts at large financial institutions, and amounts may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant risk on its cash balances due to the financial position of the depository institution in which those deposits are held. Additionally, the Company established guidelines regarding approved investments and maturities of investments, which are designed to maintain safety and liquidity. The Company maintains its cash equivalents in securities and money market funds with original maturities less than three months. The Company has no financial instruments with off-balance sheet risk of loss. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. As of June 30, 2021 and December 31, 2020, the Company’s cash equivalents were held in institutions in the United States and include deposits in a money market fund which were unrestricted as to withdrawal or use. Deferred Offering Costs Deferred offering costs consist of legal and accounting fees incurred through the balance sheet date that are directly related to the Company's IPO and have been reflected as issuance costs upon the completion of the offering. As of December 31, 2020, $2.0 million of deferred offering costs were included in prepaid expenses and other current assets in the condensed consolidated balance sheets. Subsequent to the closing of the IPO, $2.8 million of deferred costs previously included in prepaid expenses and other current assets was netted with additional paid in capital in the condensed consolidated balance sheets. Fair Value Measurement Certain assets and liabilities are carried at fair value under GAAP. Fair value is determined using the principles of ASC 820, Fair Value Measurement . Fair value is described as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes and defines the inputs to valuation techniques as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Inputs are observable for the asset or liability either directly or through corroboration with observable market data. Level 3: Unobservable inputs. The inputs used to measure the fair value of an asset or a liability are categorized within levels of the fair value hierarchy. The fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the measurement. The Company's cash and cash equivalents, accounts payable and accrued expenses are carried at cost, which approximates fair value due to the short-term nature of these instruments. Convertible Notes Payable at Fair Value As permitted under ASC 825, Financial Instruments ("ASC 825"), the Company has elected the fair value option for recognition of its convertible notes. In accordance with ASC 825, the Company recognizes these convertible notes at fair value with changes in fair value recognized in the condensed consolidated statements of operations. The fair value option may be applied instrument by instrument, but it is irrevocable. As a result of applying the fair value option, direct costs and fees related to the convertible notes were recognized in general and administrative expense in earnings as incurred and not deferred. The estimated fair value of the convertible notes is determined by utilizing a present value cash flow model and the values of the equity underlying the conversion options were estimated using company equity values implied from the Subject Company Transaction Method which includes the back-solve and scenario-based methods (Probability Weighted Expected Return Method). See Note 4. Accrued interest for the notes has been included in the change in fair value of convertible notes in the condensed consolidated statements of operations. All outstanding convertible notes were converted into common stock upon the close of the IPO on February 9, 2021 and no balances remained outstanding as of June 30, 2021. See Note 6. Convertible Preferred Stock Series C convertible preferred stock includes settlement features that result in liability classification. The initial carrying value of the Series C convertible preferred stock is accreted to the settlement value, the fair value of the securities to be issued upon the conversion of the Series C Preferred Stock. The discount to the settlement value is accreted to interest expense using the effective interest method. During 2020, certain convertible notes were exchanged for Series C convertible preferred stock. As the exchange was accounted for as a modification, the Series C convertible preferred stock that was exchanged for the convertible notes was recorded at fair value and are subject to re-measurement at each reporting period with gains and losses reported through the Company’s condensed consolidated statements of operations. All outstanding shares of convertible preferred stock were converted into common stock upon the close of the Company’s IPO on February 9, 2021. See Note 7. As of June 30, 2021, there was no convertible preferred stock outstanding. Revenue The Company does not have any products approved for sale and has not generated any revenue from product sales. The Company’s revenue to date has been primarily derived from government funding consisting of U.S. government grants and contracts, and revenue under its license agreements. Contract Revenue The Company accounts for revenue earned from contracts with customers under Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASC Topic 606"). Under ASC Topic 606, revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC Topic 606, the Company performs the following five steps: (1) Identify the contract(s) with a customer; (2) Identify the performance obligations in the contract; (3) Determine the transaction price; (4) Allocate the transaction price to the performance obligations in the contract; and (5) Recognize revenue when (or as) the entity satisfies a performance obligation. At contract inception, the Company assesses the goods or services promised within each contract, whether each promised good or service is distinct, and determines those that are performance obligations. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when or as the performance obligation is satisfied. The Company enters into agreements under which it may obtain upfront payments, milestone payments, royalty payments and other fees. Promises under these arrangements may include research licenses, research services, including selection campaign research services for certain replacement targets, the obligation to share information during the research and the participation of alliance managers and in joint research committees, joint patent committees and joint steering committees. The Company assesses these promises within the context of the agreements to determine the performance obligations. Licenses of Intellectual Property : If a license to its intellectual property is determined to be distinct from the other promises or performance obligations identified in the arrangement, the Company recognizes revenue from non-refundable, upfront fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring proportional performance for purposes of recognizing revenue from non-refundable, upfront payments. The Company evaluates the measure of proportional performance each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. Milestone payments : The Company evaluates whether the regulatory and development milestones are considered probable of being reached and estimate the amounts to be included in the transaction price using the most likely amount method. The Company evaluates factors such as the scientific, clinical, regulatory, commercial and other risks that must be overcome to achieve the particular milestone in making this assessment. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. At the end of each reporting period, the Company re-evaluates the probability of achievement of milestones and any related constraint, and if necessary, adjust the estimate of the overall transaction price. Sales-based milestones and royalties : For sales-based royalties, including milestone payments based on the level of sales, the Company determines whether the sole or predominant item to which the royalties relate is a license. When the license is the sole or predominant item to which the sales-based royalty relates, the Company recognize revenue at the later of: (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). To date, the Company has not recognized any sales-based royalty revenue resulting from any license agreement. Deferred revenue , which is a contract liability, represents amounts received by the Company for which the related revenues have not been recognized because one or more of the revenue recognition criteria have not been met. The current portion of deferred revenue represents the amount expected to be recognized within one year from the consolidated balance sheet date based on the estimated performance period of the underlying performance obligation. The noncurrent portion of deferred revenue represents amounts expected to be recognized after one year through the end of the performance period of the performance obligation. Grant Revenue The Company concluded that the Company's government grants are not within the scope of ASC Topic 606 as they do not meet the definition of a contract with a customer. The Company has concluded that the grants meet the definition of a contribution and are non-reciprocal transactions, and has also concluded that Subtopic 958-605, Not-for-Profit-Entities-Revenue Recognition, does not apply, as the Company is a business entity and the grants are with governmental agencies. In the absence of applicable guidance under GAAP, the Company developed a policy for the recognition of grant revenue when the allowable costs are incurred and the right to payment is realized. The Company believes this policy is consistent with the overarching premise in ASC Topic 606, to ensure that revenue recognition reflects the transfer of promised goods or services to customers in an amount that reflects the consideration that the Company expects to be entitled to in exchange for those goods or services, even though there is no exchange as defined in ASC Topic 606. The Company believes the recognition of revenue as costs are incurred and amounts become realizable is analogous to the concept of transfer of control of a service over time under ASC Topic 606. Research and Development Research and development costs include, but are not limited to, payroll and personnel expenses, laboratory supplies, preclinical studies, compound manufacturing costs, consulting costs and allocated overhead, including rent, equipment, depreciation and utilities. The Company has agreements with various Contract Research Organizations ("CROs") and third-party vendors. Research and development accruals of amounts due to the CRO are estimated based on the level of services performed, progress of the studies, including the phase or completion of events, and contracted costs. The estimated costs of research and development provided, but not yet invoiced, are included in accrued expenses on the condensed consolidated balance sheet. Payments made to CROs under such arrangements in advance of the performance of the related services are recorded as prepaid expenses and other current assets until the services are rendered. The Company makes judgments and estimates in determining the accrued expenses balance in each reporting period. As actual costs become known, the Company adjusts its accrued expenses. For the three and six months ended June 30, 2021 and 2020, the Company has not experienced any material differences between accrued costs and actual costs incurred. Advertising Costs Advertising costs are expensed as incurred. For the three and six months ended June 30, 2021 and 2020, advertising costs were not significant. Net Loss Per Share Basic net loss per share of common stock is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted net loss per share excludes the potential impact of convertible preferred stock, common stock options, warrants and unvested shares of restricted stock and restricted stock units because their effect would be anti-dilutive due to the Company's net loss. Since the Company had net losses for the three and six months ended June 30, 2021 and 2020, basic and diluted net loss per common share are the same. Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, which simplifies accounting for convertible instruments by removing major separation models required under current U.S. GAAP. ASU No. 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted this standard as of January 1, 2021, which did not have material impact on its condensed consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740)-Simplifying the Accounting for Income Taxes (ASU 2019-12), which is intended to simplify accounting for income taxes. It removes certain exceptions to the general principles in Topic 740 and amends existing guidance to improve consistent application. ASU 2019-12 is effective for the Company for fiscal years beginning after December 15, 2020, including interim periods therein. The Company adopted this standard as of January 1, 2021, which did not have material impact on its condensed consolidated financial statements and related disclosures. In January 2020, the FASB issued ASU No. 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)-Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the Emerging Issues Task Force). This update clarifies whether an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative and how to account for certain forward contracts and purchased options to purchase securities. For public entities, this guidance is effective for fiscal years beginning after December 15, 2020. The Company adopted this standard as of January 1, 2021, which did not have material impact on its condensed consolidated financial statements and related disclosures. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this ASU provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. LIBOR is expected to phased out by 2021. The amendments in this ASU are effective as of March 12, 2020 through December 31, 2022. The Company adopted this standard as of January 1, 2021, which did not have material impact on its condensed consolidated financial statements and related disclosures. In October 2020, the FASB issued ASU No. 2020-10,Codification Improvements. ASU 2020-10 provides amendments to a wide variety of topics in the FASB’s Accounting Standards Codification, which applies to all reporting entities within the scope of the affected accounting guidance. ASU 2020-10 is effective for the Company for fiscal years beginning after December 15, 2020, including interim periods therein. The Company adopted this standard as of January 1, 2021, which did not have material impact on its condensed consolidated financial statements and related disclosures. Recently Issued Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (ASU No. 2016-13), which requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial assets and certain other instruments, including but not limited to available-for-sale debt securities. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. As an emerging growth company, ASU No. 2016-13 is effective for the Company for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the impact of the adoption of ASU No. 2016-13 on its condensed consolidated financial statements.

Revenue and Deferred Revenue

Revenue and Deferred Revenue	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue and Deferred Revenue	Revenue and Deferred Revenue Grant Revenue Our grants and contracts reimburse us for direct and indirect costs relating to the grant projects and also provide us with a pre-negotiated profit margin on total direct and indirect costs of the grant award, excluding subcontractor costs, after giving effect to directly attributable costs and allowable overhead costs. Funds received from grants and contracts are generally deemed to be earned and recognized as revenue as allowable costs are incurred during the grant or contract period and the right to payment is realized. Contract Revenue The Company’s contract revenue has been generated from payments received pursuant to a license agreement (the "Vifor License") with Vifor International, Ltd. ("Vifor Pharma"), headquartered in Switzerland. The Company recognized revenue from upfront payments over the term of its estimated period of performance using a cost-based input method under Topic 606. The Company expects to continue recognizing revenue from upfront payments related to the Vifor License using the cost-based input method for the foreseeable future. Vifor License Agreement In November 2020, the Company entered into a license agreement with Vifor Pharma, granting Vifor Pharma global rights (excluding China, Taiwan, Hong Kong and Macau) to develop, manufacture and commercialize ANG-3777 in all therapeutic, prophylactic and diagnostic uses for renal indications, including forms of acute kidney injury (AKI), and congestive heart failure (collectively, the Renal Indications). Pursuant to the Vifor License, the Company is entitled to receive $80.0 million in upfront and near-term clinical milestone payments, including $30.0 million in up-front cash that was received in November 2020, and a $30.0 million equity investment, $5.0 million of which was a convertible note that subsequently converted into common stock with the IPO and $25.0 million of which was received in the Concurrent Private Placement with our IPO. The Company is also eligible to receive post-approval milestones of up to approximately $260.0 million and sales-related milestones of up to $1.585 billion, providing a total potential deal value of up to $1.925 billion (subject to certain specified reductions and offsets), plus tiered royalties on net sales of ANG-3777 at royalty rates of up to 40%. Under the Vifor License, the Company is responsible for executing a pre-specified clinical development plan designed to obtain regulatory approvals of ANG-3777 for delayed graft function (DGF) and AKI associated with cardiac surgery involving cardiopulmonary bypass (CSA-AKI). The Vifor License will continue until the expiration of the last royalty term for a licensed product in the licensed territory, unless earlier terminated. The royalty term for a licensed product is, on a country-by-country basis, shall start with the first commercial sale of such licensed product in such country and expire at the latest of (i) expiration of all licensed patents covering the composition of matter of such licensed product or method of use for such licensed product that has obtained regulatory approval in such country, (ii) expiration of all regulatory and data exclusivity applicable to such licensed product in such country, or (iii) the tenth (10th) anniversary of the date of the first commercial sale of such licensed product in such country. Vifor Pharma may terminate the Vifor License at its sole discretion upon the earlier of (i) the acceptance for filing of an NDA covering products incorporating ANG-3777 filed with the FDA (after completion of the relevant Phase 3 clinical trial for such products), or (ii) the third anniversary of the effective date of the Vifor License. Both the Company and Vifor Pharma may terminate the Vifor License in its entirety if the other is in material breach of the Vifor License and has not cured the breach (if curable) within 60 days, or 90 days for incurable breach. In certain circumstances, in the event of the Company’s material breach of the Vifor License, Vifor Pharma may terminate the Vifor License with respect to certain major markets. In addition, both parties have the right to terminate the Vifor License upon insolvency of the other party. The Company identified the following performance obligations in the Vifor License: (1) the global license (excluding greater China), (2) the development services, including the clinical development services including a post-approval confirmatory study, the technical development services and regulatory services and (3) the required participation on Joint Committees for coordination and oversight. The Company determined that the license is not capable of being distinct due to the specialized nature of the development services to be provided by the Company, and, accordingly, this promise was combined with the development services and participation in the joint committees as one single performance obligation. In order to determine the transaction price, the Company evaluated all the payments to be received during the duration of the contract. Certain milestones and additional fees were considered variable consideration, which were not included in the transaction price as of June 30, 2021. The Company determined that the transaction price at the inception of the Vifor License is $15.0 million, which is 50% of the $30.0 million upfront payment due to the potential setoff defined in the contract. The Company will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur. The transaction price is recognized as license revenue using the cost-based input method over the estimated performance period of approximately 9.5 years beginning on November 6, 2020. The performance period represents the estimated timing of completion of the identified performance obligation. In June 2021, the Company determined that the performance period should be extended to 2030 from 2027 based on the management’s best estimate for the completion of the post-approval confirmatory study. Using the cost-based input method, the Company recognizes revenue based on actual costs incurred as a percentage of total estimated costs as the Company completes its performance obligation. The cumulative effect of revisions to estimated costs to complete the Company’s performance obligation will be recorded in the period in which changes are identified and amounts can be reasonably estimated. These actual costs consist primarily of internal full time equivalent (FTE) efforts and third-party contract costs related to the Vifor License.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table classifies the Company's financial assets and liabilities measured at fair value on a recurring basis into the fair value hierarchy as of June 30, 2021 and December 31, 2020 (in thousands): Fair Value Measured at June 30, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets included in: Cash and cash equivalents—Money market securities (1) $ 1 $ — $ — $ 1 Total fair value $ 1 $ — $ — $ 1 Liabilities included in: Warrants $ — $ — $ 514 $ 514 Total fair value $ — $ — $ 514 $ 514 Fair Value Measured at December 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets included in: Cash and cash equivalents—Money market securities (1) $ 1 $ — $ — $ 1 Total fair value $ 1 $ — $ — $ 1 Liabilities included in: Convertible notes $ — $ — $ 51,170 $ 51,170 Warrants — — 10,704 10,704 Series C convertible preferred stock — — 2,518 2,518 Total fair value $ — $ — $ 64,392 $ 64,392 __________________ (1) Included in cash and cash equivalents on the condensed consolidated balance sheets. This balance includes cash requirements settled on a nightly basis. There were no transfers made among the three levels in the fair value hierarchy during periods presented. The following table presents changes in Level 3 liabilities measured at fair value (in thousands): Warrant Convertible Series C Convertible Preferred Stock at Fair Value Total Balance—December 31, 2020 10,704 51,170 2,518 64,392 Conversion of convertible notes into common stock — (58,639) — (58,639) Conversion of convertible Series C convertible preferred stock into common stock — — (6,110) (6,110) Net exercise of warrants (13,509) — — (13,509) Change in fair value 3,319 7,469 3,592 14,380 Balance—June 30, 2021 $ 514 $ — $ — $ 514 Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long- dated volatilities) inputs. The Company used an option model to measure the fair value of the Notes (on conversion date). The values of the equity underlying the conversion options in the model were estimated using equity values implied from sales of convertible preferred stock. The fair value of the Notes was impacted by the model selected as well as assumptions surrounding unobservable inputs. Key unobservable inputs include the expected volatility of the underlying equity, and the timing of an expected liquidity event. The fair value of the warrants issued by the Company has been estimated using a variant of the Black Scholes option pricing model. The underlying equity included in the Black Scholes option pricing model was valued based on the equity value implied from sales of preferred and common stock at each measurement date. The fair value of the warrants was impacted by the model selected as well as assumptions surrounding unobservable inputs including the underlying equity value, expected volatility of the underlying equity, risk free interest rate and the expected term. Convertible Notes The fair value adjustment during the six months ended June 30, 2021 is based on the final settlement amount using a conversion price of $11.57 per share on February 9, 2021. Subsequent to the closing of the IPO, there were no convertible notes outstanding. Series C Preferred Stock The fair value adjustment during the six months ended June 30, 2021 is based on the final settlement amount using a conversion price of $11.57 per share on February 9, 2021. Subsequent to the closing of the IPO, there were no shares of convertible preferred stock outstanding. Warrant Liability The fair value adjustment for the net exercise of warrants with an exercise price of $6.43 during the six months ended June 30, 2021 is based on the final settlement amount using the IPO price on February 9, 2021. Subsequent to the closing of the IPO, the fair value of the warrants issued by the Company has been estimated using a variant of the Black Scholes option pricing model. The underlying equity included in the Black Scholes option pricing model was valued based on the closing price of common stock at each measurement date. During the three months ended June 30, 2021 and 2020, the fair value of the warrants decreased by $0.2 million and increased by $0.5 million, respectively. The change in fair value of warrant liability in both periods are recognized in the condensed consolidated statements of operations. During the six months ended June 30, 2021 and 2020, the increase in the fair value of the warrants of $3.3 million and $0.7 million, respectively, are recognized in change in fair value of warrant liability in the condensed consolidated statements of operations. A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the Company's warrant liabilities that are categorized within Level 3 of the fair value hierarchy as of June 30, 2021 and December 31, 2020 was as follows: June 30, December 31, 2021 2020 Strike price $ 8.01 $ 0.01 Contractual term (years) 2.2 4.9 Volatility (annual) 86.8 % 86.8 % Risk-free rate 0.7 % 0.1 % Dividend yield (per share) 0.0 % 0.0 %

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	Balance Sheet Components Property and Equipment, Net The Company's property and equipment, net comprised the following (in thousands): June 30, December 31, 2021 2020 Equipment $ 775 $ 512 Furniture and fixtures 33 27 Leasehold improvements 59 43 Total property and equipment 867 582 Less: accumulated depreciation (455) (426) Property and equipment, net $ 412 $ 156 Depreciation expense for the three months ended June 30, 2021 and 2020 was $23 thousand and $47 thousand, respectively. Depreciation expense for the six months ended June 30, 2021 and 2020 was $29 thousand and $74 thousand, respectively. Prepaid and Other Current Assets Prepaid and other current assets comprised the following (in thousands): June 30, December 31, 2021 2020 Deferred offering costs $ — $ 1,978 Convertible note receivable — 5,000 Angion Pty tax — 352 Prepaid insurance 1,761 — Security deposit 90 — Other 538 360 Total prepaid and other current assets $ 2,389 $ 7,690 Accrued Expenses Accrued expenses comprised the following (in thousands): June 30, December 31, 2021 2020 Accrued compensation $ 4,093 $ 3,154 Accrued direct research costs 71 1,321 Accrued operating expenses 511 707 Accrued interest — 1,483 Total accrued expenses $ 4,675 $ 6,665

Convertible Notes Payable

Convertible Notes Payable	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Convertible Notes Payable	Convertible Notes Payable As of December 31, 2020, the Company had convertible notes with an aggregate principal amount of $39.8 million and $1.8 million accrued interest outstanding. Conversion of Convertible Notes Payable In January 2021, the Company issued 33,978 shares of common stock upon the conversion of certain of the outstanding 2020 Notes. In connection with the IPO in February 2021, with an IPO price of $16.00 per share, the remaining outstanding Additional Convertible Notes and Vifor Convertible Note were converted into 3,636,189 shares of the Company’s common stock based on a conversion price of $11.57 per share. There were no convertible notes outstanding as of June 30, 2021.

Series C Convertible Preferred

Series C Convertible Preferred Stock	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Series C Convertible Preferred Stock	Series C Convertible Preferred Stock The following table summarizes the aggregate values recorded for the Series C Preferred Stock as of December 31, 2020 (in thousands): At issuance December 31, 2020 Series C convertible preferred stock recorded at amortized cost Principal $ 22,308 $ 22,308 Settlement premium 5,577 5,577 Unamortized discounts and fees (9,250) (1,884) Net carrying amount $ 18,635 $ 26,001 Series C convertible preferred stock recorded at fair value Series C convertible preferred stock issued in exchange for convertible notes 2,254 Change in fair value of Series C convertible preferred stock exchanged for convertible notes 264 Total Series C convertible preferred stock $ 28,519 Conversion of Series C Convertible Preferred Stock In connection with the IPO in February 2021, with an initial public offering price of $16.00 per share, all Series C convertible preferred stock outstanding plus accrued dividends were automatically converted into an aggregate of 2,234,640 shares of common stock on February 9, 2021 with a conversion price of $11.57 per share. There were no shares of convertible preferred stock outstanding as of June 30, 2021.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are not entitled to receive dividends, unless declared by the board of directors. On February 9, 2021, in connection with the IPO, the Company filed a restated Certificate of Incorporation, which, among other things, restated the number of shares of all classes of stock that the Company had authority to issue to 310,000,000 shares, of which (i) 300,000,000 shares shall be a class designated as common stock, par value $0.01 per share, and (ii) 10,000,000 shares shall be a class designated as undesignated preferred stock, par value $0.01 per share. Treasury Stock At June 30, 2021 and December 31, 2020, the balance on the treasury stock was approximately $4.2 million and $1.8 million, respectively.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation 2015 Plan In June 2019, the Company approved an Amended and Restated 2015 Equity Incentive Plan (the "2015 Plan") permitting the granting of incentive stock options, non-statutory stock options, restricted stock and other stock-based awards. Following the effectiveness of the 2021 Equity Incentive Plan ("2021 Plan"), the Company ceased making grants under the 2015 Plan. However, the 2015 Plan continues to govern the terms and conditions of the outstanding awards granted under it. Shares of common stock subject to awards granted under the 2015 Plan that cease to be subject to such awards by forfeiture or otherwise after the termination of the 2015 Plan will be available for issuance under the 2021 Plan. 2021 Plan On January 25, 2021, the Company's board of directors approved the 2021 Plan which permits the granting of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units and other stock-based awards to employees, directors, officers and consultants. On January 25, 2021, shares of common stock equal to 11% of the post-IPO capitalization, with annual increases, up to a maximum of 60,000,000 shares of common stock were authorized for issuance under the 2021 Plan. Stock Options The fair value of each employee and non-employee stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The Company determines the estimated fair value of its common stock using the Subject Company Transaction Method which includes the back-solve and scenario-based methods (Probability Weighted Expected Return Method) to arrive at estimated fair values. Prior to the IPO, the Company was a private company and lacked company-specific historical and implied volatility information. Therefore, it estimates its expected stock volatility based on the historical volatility of a publicly traded set of peer companies. Due to the lack of historical exercise history, the expected term of the Company's stock options for employees has been determined utilizing the "simplified" method for awards. The expected term of stock options granted to non-employees is equal to the contractual term of the option award. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is zero based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future. Subsequent to the IPO, the Company determines the fair value and exercise price using the market closing price of the Company’s common stock on the date of grant. The following assumptions were used to estimate the fair value of stock option awards: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Risk-free interest rate 1.1% 0.4% 0.7% 0.7% Expected dividend yield — — — — Expected term in years 6.05 6.02 5.99 5.98 Expected volatility 74.3%-74.8% 73.0%-73.4% 73.8%-86.8% 70.8%-73.4% The following table summarizes information activity related to the Company’s share option plans: Number of Weighted Weighted Total Outstanding as of December 31, 2020 3,479,731 $ 6.97 8.4 $ 15,140 Options granted 1,024,121 15.89 — Options forfeited (6,809) 7.93 — Options exercised (8,650) 9.30 — Options expired (191) 7.77 — Outstanding as of June 30, 2021 4,488,202 $ 9.00 8.3 $ 26,230 Options vested and exercisable 2,172,339 $ 6.66 7.5 $ 17,061 The aggregate intrinsic value in the above table is calculated as the difference between the estimated fair value of the Company's common stock price and the exercise price of the stock options. The weighted average grant date fair value per share for the stock option grants during the three months ended June 30, 2021 and 2020 was $9.29 and $5.04, respectively. The weighted average grant date fair value per share for the stock option grants during the six months ended June 30, 2021 and 2020 was $8.89 and $5.34, respectively. As of June 30, 2021, the total unrecognized compensation related to unvested stock option awards granted was $9.5 million, which the Company expects to recognize over a weighted-average period of approximately 2.7 years. Restricted Stock and Restricted Stock Units The Company's RSA and RSU activity was as follows: Shares of Weighted Restricted Weighted Outstanding at December 31, 2020 14,585 $ 6.05 74,144 $ 6.50 Released (7,293) 6.05 (27,469) 6.33 Outstanding at June 30, 2021 7,292 $ 6.05 46,675 $ 7.97 Vested as of June 30, 2021 — 25,645 $ 8.40 Performance-based Restricted Stock Units The Company had 556,530 PSUs outstanding that were granted in June 2019. Vesting of the PSUs is dependent upon the satisfaction of both a service condition and a performance condition, an initial public offering or a change of control, as defined in the 2015 Plan. As the IPO occurred in February 2021, the performance condition was met and 185,510 PSUs vested and were released upon the closing of the IPO. Another 185,510 PSUs vested and released were in June 2021 upon the second anniversary of the grants. A s of June 30, 2021 , the Company had 185,510 PSUs outstanding. The following table summarizes the total stock-based compensation expense for the stock options, RSUs (including PSUs), RSAs and compensation issued in shares recorded in the condensed consolidated statements of operations (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Research and development $ 1,409 $ 388 $ 3,952 $ 826 General and administrative 1,309 707 3,883 1,101 Total $ 2,718 $ 1,095 $ 7,835 $ 1,927 Employee Stock Purchase Plan In January 2021, the board of directors of the Company approved the Employee Stock Purchase Plan (the "ESPP"). The ESPP was effective on the date immediately prior to the effectiveness of the Company's registration statement relating to the IPO. A total of 390,000 shares of common stock were initially reserved for issuance under the ESPP. The offering period and purchase period will be determined by the Board of Directors. As of June 30, 2021, 390,000 shares under the ESPP remain available for purchase and no offerings had been authorized.

Warrants

Warrants	6 Months Ended
	Jun. 30, 2021
Warrants and Rights Outstanding [Abstract]
Warrants	Warrants As of June 30, 2021 and December 31, 2020, the outstanding warrants to purchase the Company's common stock comprised the following: Classification Exercise Expiration June 30, 2021 December 31, 2020 Warrants issued with 2015 Notes Liability $ 6.43 7/5/28 — 388,396 Warrants issued with 2016 Notes Liability $ 6.43 7/5/28 — 538,933 Warrants issued with 2017 Notes Liability $ 6.43 7/5/28 — 79,265 Warrants issued with 2018 Notes Liability $ 6.43 7/5/28 — 498,567 Warrants issued with Conversion of Notes to Common Stock Equity $ 8.03 8/31/28 232,287 238,779 Warrants issued with Units in the Equity Offering Equity $ 8.03 8/31/28 875,811 907,860 Broker Warrants issued with Equity Offering Equity $ 0.01 8/31/25 1,297 48,485 Consultant Warrants Liability $ 7.60 8/31/28 39,505 39,506 Total Warrants 1,148,900 2,739,791 In accordance with ASC 815, the warrants classified as liabilities are recorded at fair value at the issuance date, with changes in the fair value recognized in the condensed consolidated statements of operations at the end of each reporting period. Refer to Note 4 for changes in the fair value recognized during the periods reported. In accordance with ASC 815, the warrants classified as equity do not meet the definition of a derivative and are classified in stockholders' equity (deficit) in the condensed consolidated balance sheets. The Company's warrant activity for the six months ended June 30, 2021 was as follows: Warrants Weighted Weighted Balance—December 31, 2020 2,739,791 $ 7.00 4.9 Exercised (1,587,979) 7.87 Returned/cancelled (2,912) 8.03 Balance—June 30, 2021 1,148,900 $ 8.01 2.2 Conversion of Warrants In February 2021, all warrants outstanding issued with 2015 Notes, 2016 Notes, 2017 Notes, and 2018 Notes with a $6.43 exercise price were net exercised into an aggregate of 844,335 shares of common stock upon the IPO with a conversion price of $11.57 per share.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases The Company leases office and laboratory space in Uniondale, New York from NovaPark, a related party, under an agreement classified as an operating lease that expires June 20, 2026. The Company's lease does not require any contingent rental payments, impose any financial restrictions, or contain any residual value guarantees. Variable expenses generally represent the Company's share of the landlord's operating expenses, including management fees. The Company does not act as a lessor or have any leases classified as financing leases. The Company leases office space in Fort Lee, New Jersey, comprising approximately 2,105 square feet for approximately $0.1 million per year, under a non-cancelable operating lease through March 31, 2022 however, this arrangement is excluded from the calculation of lease liabilities and right of use assets as its term is less than one year. The lease is subject to charges for common area maintenance and other costs. In July 2020, the Company entered into a lease for office furniture in San Francisco, California set to expire in July 2025, with an annual lease payment of approximately $13 thousand. In February 2021, the Company entered into a lease for clinical and regulatory space in Newton, Massachusetts (the “Newton lease”), comprising approximately 6,157 square feet for approximately $0.2 million per year, under a non-cancelable operating lease through June 30, 2024. Pursuant to the Newton lease, the Company has 4 months of free rent starting from February 15, 2021 to June 14, 2021. The Company has one option to extend the term of the lease for 3 years with 9 months’ notice. The following table provides the components of the Company's rent expense (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Operating leases Operating lease cost $ 317 $ 293 $ 590 $ 581 Variable cost 85 57 215 149 Operating lease expense 402 350 805 730 Short-term lease rent expense 3 3 42 64 Total rent expense $ 405 $ 353 $ 847 $ 794 The following table summarizes quantitative information about the Company's NovaPark operating leases (dollars in thousands): Six Months Ended June 30, 2021 2020 Operating cash flows from operating leases $ 543 $ 628 Right-of-use assets exchanged for operating lease liabilities $ 624 $ 27 Weighted-average remaining lease term—operating leases (in years) 3.5 6.0 Weighted-average discount rate—operating leases 4.9 % 11.0 % As of June 30, 2021, maturities of lease liabilities were as follows (in thousands): Years Ended December 31, Amounts 2021 (remaining six months) $ 645 2022 1,289 2023 1,305 2024 1,209 2025 1,104 Thereafter 516 Total 6,068 Less present value discount (1,289) Operating lease liabilities $ 4,779 Litigation The Company is not a party to any material legal proceedings and is not aware of any pending or threatened claims. From time to time, the Company may be subject to various legal proceedings and claims that arise in the ordinary course of its business activities. Indemnification The Company enters into standard indemnification arrangements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with any trade secret, copyright, patent or other intellectual property infringement claim by any third party with respect to its technology. The term of these indemnification agreements is generally perpetual any time after the execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these arrangements is not determinable. The Company has never incurred costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, the Company believes the fair value of these agreements is minimal. Paycheck Protection Program

Significant Agreements

Significant Agreements	6 Months Ended
	Jun. 30, 2021
Significant Agreements [Abstract]
Significant Agreements	Significant AgreementsLicense Agreement In November 2020, the Company entered into a license agreement with Vifor Pharma, granting Vifor Pharma global rights (excluding China, Taiwan, Hong Kong and Macau) to develop, manufacture and commercialize ANG-3777 in all therapeutic, prophylactic and diagnostic uses for the Renal Indications. See Note 3.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended June 30, 2021, the Company’s income tax provision was $0. For the six months ended June 30, 2021, the Company’s income tax provision was $800 and the effective tax rate was 0%. For the three and six months ended June 30, 2020, the Company recognized an income tax expense of $800, which is an effective tax rate of 0%. The difference between the Company's effective tax rate of 0% and the U.S. federal statutory tax rate of 21% is primarily due to net operating losses in this period which are offset by the corresponding valuation allowance. The Company has provided a full valuation allowance against its net deferred tax assets as it is more likely than not that such assets would not be realized. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income in which those temporary differences become deductible. Based on the available objective evidence, management believes it is more likely than not that the net deferred tax assets at June 30, 2021 will not be realizable. Accordingly, management has maintained a full valuation allowance against its net deferred tax assets at June 30, 2021. Each reporting period, management evaluates the need for a valuation allowance on the Company’s deferred tax assets by jurisdiction and adjust the Company’s estimates as more information becomes available. The Company is required to recognize the financial statement effects of a tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Tax years starting from 2015 and forward are subject to examination by the U.S. federal and state tax authorities. These years are open due to net operating losses and tax credits remain unutilized from such years. The Company's policy is to recognize interest expense and penalties related to income tax matters as a component of income tax expense. As of June 30, 2021, there were no accruals for interest and penalties related to uncertain tax positions.

Employee Benefit Plan

Employee Benefit Plan	6 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Employee Benefit Plan	Employee Benefit PlanEmployee Benefit PlanThe Company sponsors a retirement savings plan that is intended to qualify for favorable tax treatment under Section 401(a) of the Code, and contains a cash or deferred feature that is intended to meet the requirements of Section 401(k) of the Code. Participants may make pre-tax and certain after-tax (Roth) salary deferral contributions to the plan from their eligible earnings up to the statutorily prescribed annual limit under the Code. Participants who are 50 years of age or older may contribute additional amounts based on the statutory limits for catch-up contributions. Participant contributions are held in trust as required by law. No minimum benefit is provided under the plan. An employee’s interest in his or her salary deferral contributions is 100% vested when contributed. Contributions, subject to established limits, are matched at a dollar for dollar rate up to 3% of an individual’s earnings and fifty cents on the dollar on the next 4-5% of earnings.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders, which excludes shares which are legally outstanding but subject to repurchase by the Company (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator Net loss attributable to common stockholders $ (17,072) $ (20,341) $ (53,759) $ (33,563) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 29,670,329 14,514,670 26,574,290 14,488,746 Net loss per share attributable to common stockholders, basic and diluted $ (0.58) $ (1.40) $ (2.02) $ (2.32) The table below provides potentially dilutive securities not included in the calculation of the diluted net loss per share because to do so would be anti-dilutive: Six Months Ended June 30, 2021 2020 Shares issuable upon exercise of stock options 4,488,202 2,403,432 Shares issuable upon the exercise of warrants 1,148,900 1,840,033 Shares issuable upon conversion of the convertible notes (1) — 1,990,847 Shares issuable upon conversion of the Series C preferred stock (1) — 938,175 Non-vested shares under restricted stock unit grants 46,675 56,250 Non-vested shares under restricted stock grants 7,292 14,063 Total 5,691,069 7,242,800 ___________________________________ (1) The number of shares issuable upon conversion of the 2019 Notes and 2020 Notes has been estimated using the Company's common stock fair value at June 30, 2020, discounted by 20%.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Ohr Investment In a series of investments in November 2013 and July 2017, the Company invested a total of $150,000 to acquire a membership interest in Ohr Cosmetics, LLC ("Ohr"), an affiliated company. The Company owns and the family of the Company's Executive Chairman owns approximately 2.4% and 81.3%, respectively, of the membership interests in Ohr. The Executive Chairman's son is the manager of Ohr. In November 2013, the Company granted Ohr an exclusive worldwide license, with the right to sublicense, under the Company's patent rights covering one of the Company's CYP26 inhibitors, ANG-3522, for the use in treating conditions of the skin or hair. Sublicensees may not grant further sublicenses under the Company's patent rights other than to affiliates of such sublicensees and entities with which sublicensees are collaborating for the research, development, manufacture and commercialization of the products. Ohr will pay the Company a royalty at a rate in the low single digits on gross revenue of products incorporating ANG-3522, and milestone payments potentially totaling up to $9.0 million based on achievement of sales milestones. Royalties and milestone payments will be paid until the later of 15 years from the first commercial sale of a licensed product or the last to expire licensed patent rights. The royalty rate is subject to adjustments under certain circumstances. The Company believes that the Ohr License was made on terms no less favorable to the Company than those that the Company could obtain from unaffiliated third parties. No revenue from this license agreement was recognized for the periods presented. NovaPark Investment and Lease As of June 30, 2021, the Company had a 10% interest in NovaPark. Members of the Company's Executive Chairman's immediate family own a majority of the membership interests of NovaPark. The Company accounts for its aggregate 10% investment in NovaPark under the equity method. The following table provides the activity for the NovaPark investment for the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Beginning balance $ 782 $ 877 $ 727 $ 849 (Losses) earnings from equity method investment (22) 28 45 56 Distribution from NovaPark (12) — (24) — Ending balance $ 748 $ 905 $ 748 $ 905 The Company rents office and laboratory space in Uniondale, New York from NovaPark under a lease that expires June 20, 2026. The Company recorded rent expense for fixed lease payments of $0.3 million in each of the three months ended June 30, 2021 and 2020. The Company recorded rent expense for variable expenses related to the lease of $0.1 million for the three months ended June 30, 2021 and 2020. The Company recorded rent expense for fixed lease payments of $0.5 million in each of the six months ended June 30, 2021 and 2020. The Company recorded rent expense for variable expenses related to the lease of $0.2 million and $0.1 million for the six months ended June 30, 2021 and 2020, respectively. See Note 11. Convertible Notes In connection with the IPO in February 2021, Victor Ganzi, Gilbert Omenn and Karen Wilson, directors of the Company, and Raj Venkatesan, brother of the Chief Executive Officer and director of the Company, converted all their outstanding convertible notes into an aggregate of 149,500 shares of common stock with a conversion price of $11.57. As of June 30, 2021, there were no convertible notes outstanding. Series C Convertible Preferred Stock In connection with the IPO in February 2021, Jay Venkatesan, M.D., the Chief Executive Officer and director of the Company converted all his outstanding preferred stock into an aggregate of 165,094 shares of common stock with a conversion price of $11.57 per share. As of June 30, 2021, there were no shares of convertible preferred stock outstanding. Consultant Fees Angion pays consulting fees under an agreement with the wife of the Executive Chairman of the Company for Company management services. Consultant fees paid to the wife were approximately $22 thousand and zero during the three months ended June 30, 2021 and 2020, respectively. Consultant fees paid to the wife were approximately $59 thousand and $29 thousand during the six months ended June 30, 2021 and 2020, respectively. Other Dr. Michael Yamin, a former member of the Board of Directors of the Company, is a Scientific Advisor for Pearl Cohen Zedek Latzer Baratz LLP (Pearl Cohen). During the three and six months ended June 30, 2021 and 2020, the Company paid Pearl Cohen approximately zero and $17 thousand in legal fees, respectively. In January 2018, the Company also entered into a consulting agreement with Dr. Yamin pursuant to which he agreed to provide consulting services to the Company in the areas of biomedical research and development. Pursuant to the terms of the consulting agreement, Dr. Yamin, in his capacity as a consultant, received $18 thousand and $36 thousand during the three months ended June 30, 2021 and 2020, respectively. Dr. Yamin received $45 thousand during the six months ended June 30, 2021 and 2020. Dr. Yamin resigned from the Company's Board of Directors in March 2020. Dr. Yamin's resignation was not due to any disagreement with the Company, the Board or management of the Company.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On August 3, 2021, the Company issued a press release announcing positive results from its Phase 1 study in healthy volunteers for ANG-3070, a novel oral tyrosine kinase receptor inhibitor (TKI) being developed for the treatment of fibrotic diseases. The Company also announced the FDA’s acceptance of an IND application supporting the initiation of a Phase 2 trial in patients with primary proteinuric kidney diseases in 2021. Additionally, the Company announced it will host a Virtual Fibrosis R&D Day on September 20, 2021. Key findings from the ANG-3070 Phase 1 healthy volunteer study included: • ANG-3070 achieved drug exposures in humans exceeding exposures in which activity was demonstrated in animal models of proteinuric kidney diseases; • ANG-3070 demonstrated a favorable safety and tolerability profile, including with respect to gastrointestinal side effects, which was encouraging given the well-recognized incidence and severity of these side effects in approved TKIs; and • Pharmacokinetic data supportive of potential once-daily oral dosing for ANG 3070. There were no serious adverse events reported at any dose schedule or level. The reported (non-serious) adverse events were seen mostly at higher doses, 600 mg administered once-daily and 500 mg administered twice-daily over two weeks. These adverse events included nausea, abdominal cramps, and diarrhea, and were considered mild to moderate in severity. This was encouraging given the well-recognized incidence and severity of these side effects in approved TKIs.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company's condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") and include the accounts of the Company, its wholly owned subsidiary, Angion Biomedica Europe Limited, which was dissolved on March 16, 2021, and its wholly owned subsidiary, Angion Pty Ltd., which was established on August 22, 2019. The Company established Angion Pty Ltd., an Australian subsidiary, for the purpose of qualifying for research credits for studies conducted in Australia. All significant intercompany balances and transactions have been eliminated in consolidation.
Unaudited interim financial information	Unaudited interim financial information The condensed consolidated financial statements of the Company included herein have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The interim unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements as of and for the year ended December 31, 2020 and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s consolidated financial position, results of operations and comprehensive loss, and cash flows. The condensed consolidated balance sheet as of December 31, 2020 was derived from the audited financial statements as of that date. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this Quarterly Report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K as filed with the SEC on March 30, 2021. The results for any interim period are not necessarily indicative of results for any future period.
Segments	Segments Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker (“CODM”) in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business as one operating segment.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to the useful lives of long-lived assets, the measurement of stock-based compensation, accruals for research and development activities, income taxes and revenue recognition. The Company bases its estimates on historical experience and on other relevant assumptions that are reasonable under the circumstances. Actual results could materially differ from those estimates.
Concentrations of Credit Risk and Off-Balance Sheet Risk	Concentrations of Credit Risk and Off-Balance Sheet Risk Cash and cash equivalents are financial instruments that are potentially subject to concentrations of credit risk. The Company's cash and cash equivalents are deposited in accounts at large financial institutions, and amounts may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant risk on its cash balances due to the financial position of the depository institution in which those deposits are held. Additionally, the Company established guidelines regarding approved investments and maturities of investments, which are designed to maintain safety and liquidity. The Company maintains its cash equivalents in securities and money market funds with original maturities less than three months.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. As of June 30, 2021 and December 31, 2020, the Company’s cash equivalents were held in institutions in the United States and include deposits in a money market fund which were unrestricted as to withdrawal or use.
Deferred Offering Costs	Deferred Offering CostsDeferred offering costs consist of legal and accounting fees incurred through the balance sheet date that are directly related to the Company's IPO and have been reflected as issuance costs upon the completion of the offering.
Fair Value Measurement	Fair Value Measurement Certain assets and liabilities are carried at fair value under GAAP. Fair value is determined using the principles of ASC 820, Fair Value Measurement . Fair value is described as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes and defines the inputs to valuation techniques as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Inputs are observable for the asset or liability either directly or through corroboration with observable market data. Level 3: Unobservable inputs. The inputs used to measure the fair value of an asset or a liability are categorized within levels of the fair value hierarchy. The fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the measurement. The Company's cash and cash equivalents, accounts payable and accrued expenses are carried at cost, which approximates fair value due to the short-term nature of these instruments.
Convertible Notes Payable at Fair Value	Convertible Notes Payable at Fair Value As permitted under ASC 825, Financial Instruments ("ASC 825"), the Company has elected the fair value option for recognition of its convertible notes. In accordance with ASC 825, the Company recognizes these convertible notes at fair value with changes in fair value recognized in the condensed consolidated statements of operations. The fair value option may be applied instrument by instrument, but it is irrevocable. As a result of applying the fair value option, direct costs and fees related to the convertible notes were recognized in general and administrative expense in earnings as incurred and not deferred. The estimated fair value of the convertible notes is determined by utilizing a present value cash flow model and the values of the equity underlying the conversion options were estimated using company equity values implied from the Subject Company Transaction Method which includes the back-solve and scenario-based methods (Probability Weighted Expected Return Method). See Note 4.
Convertible Preferred Stock	Convertible Preferred StockSeries C convertible preferred stock includes settlement features that result in liability classification. The initial carrying value of the Series C convertible preferred stock is accreted to the settlement value, the fair value of the securities to be issued upon the conversion of the Series C Preferred Stock. The discount to the settlement value is accreted to interest expense using the effective interest method. During 2020, certain convertible notes were exchanged for Series C convertible preferred stock. As the exchange was accounted for as a modification, the Series C convertible preferred stock that was exchanged for the convertible notes was recorded at fair value and are subject to re-measurement at each reporting period with gains and losses reported through the Company’s condensed consolidated statements of operations. All outstanding shares of convertible preferred stock were converted into common stock upon the close of the Company’s IPO on February 9, 2021.
Revenue	Revenue The Company does not have any products approved for sale and has not generated any revenue from product sales. The Company’s revenue to date has been primarily derived from government funding consisting of U.S. government grants and contracts, and revenue under its license agreements. Contract Revenue The Company accounts for revenue earned from contracts with customers under Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASC Topic 606"). Under ASC Topic 606, revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC Topic 606, the Company performs the following five steps: (1) Identify the contract(s) with a customer; (2) Identify the performance obligations in the contract; (3) Determine the transaction price; (4) Allocate the transaction price to the performance obligations in the contract; and (5) Recognize revenue when (or as) the entity satisfies a performance obligation. At contract inception, the Company assesses the goods or services promised within each contract, whether each promised good or service is distinct, and determines those that are performance obligations. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when or as the performance obligation is satisfied. The Company enters into agreements under which it may obtain upfront payments, milestone payments, royalty payments and other fees. Promises under these arrangements may include research licenses, research services, including selection campaign research services for certain replacement targets, the obligation to share information during the research and the participation of alliance managers and in joint research committees, joint patent committees and joint steering committees. The Company assesses these promises within the context of the agreements to determine the performance obligations. Licenses of Intellectual Property : If a license to its intellectual property is determined to be distinct from the other promises or performance obligations identified in the arrangement, the Company recognizes revenue from non-refundable, upfront fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring proportional performance for purposes of recognizing revenue from non-refundable, upfront payments. The Company evaluates the measure of proportional performance each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. Milestone payments : The Company evaluates whether the regulatory and development milestones are considered probable of being reached and estimate the amounts to be included in the transaction price using the most likely amount method. The Company evaluates factors such as the scientific, clinical, regulatory, commercial and other risks that must be overcome to achieve the particular milestone in making this assessment. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. At the end of each reporting period, the Company re-evaluates the probability of achievement of milestones and any related constraint, and if necessary, adjust the estimate of the overall transaction price. Sales-based milestones and royalties : For sales-based royalties, including milestone payments based on the level of sales, the Company determines whether the sole or predominant item to which the royalties relate is a license. When the license is the sole or predominant item to which the sales-based royalty relates, the Company recognize revenue at the later of: (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). To date, the Company has not recognized any sales-based royalty revenue resulting from any license agreement. Deferred revenue , which is a contract liability, represents amounts received by the Company for which the related revenues have not been recognized because one or more of the revenue recognition criteria have not been met. The current portion of deferred revenue represents the amount expected to be recognized within one year from the consolidated balance sheet date based on the estimated performance period of the underlying performance obligation. The noncurrent portion of deferred revenue represents amounts expected to be recognized after one year through the end of the performance period of the performance obligation. Grant Revenue The Company concluded that the Company's government grants are not within the scope of ASC Topic 606 as they do not meet the definition of a contract with a customer. The Company has concluded that the grants meet the definition of a contribution and are non-reciprocal transactions, and has also concluded that Subtopic 958-605, Not-for-Profit-Entities-Revenue Recognition, does not apply, as the Company is a business entity and the grants are with governmental agencies. In the absence of applicable guidance under GAAP, the Company developed a policy for the recognition of grant revenue when the allowable costs are incurred and the right to payment is realized. The Company believes this policy is consistent with the overarching premise in ASC Topic 606, to ensure that revenue recognition reflects the transfer of promised goods or services to customers in an amount that reflects the consideration that the Company expects to be entitled to in exchange for those goods or services, even though there is no exchange as defined in ASC Topic 606. The Company believes the recognition of revenue as costs are incurred and amounts become realizable is analogous to the concept of transfer of control of a service over time under ASC Topic 606.
Research and Development	Research and Development Research and development costs include, but are not limited to, payroll and personnel expenses, laboratory supplies, preclinical studies, compound manufacturing costs, consulting costs and allocated overhead, including rent, equipment, depreciation and utilities. The Company has agreements with various Contract Research Organizations ("CROs") and third-party vendors. Research and development accruals of amounts due to the CRO are estimated based on the level of services performed, progress of the studies, including the phase or completion of events, and contracted costs. The estimated costs of research and development provided, but not yet invoiced, are included in accrued expenses on the condensed consolidated balance sheet. Payments made to CROs under such arrangements in advance of the performance of the related services are recorded as prepaid expenses and other current assets until the services
Advertising Costs	Advertising CostsAdvertising costs are expensed as incurred.
Net Loss Per Share	Net Loss Per Share Basic net loss per share of common stock is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted net loss per share excludes the potential impact of convertible preferred stock, common stock options, warrants and unvested shares of restricted stock and restricted stock units because their effect would be anti-dilutive due to the Company's net loss. Since the Company had net losses for the three and six months ended June 30, 2021 and 2020, basic and diluted net loss per common share are the same.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, which simplifies accounting for convertible instruments by removing major separation models required under current U.S. GAAP. ASU No. 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted this standard as of January 1, 2021, which did not have material impact on its condensed consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740)-Simplifying the Accounting for Income Taxes (ASU 2019-12), which is intended to simplify accounting for income taxes. It removes certain exceptions to the general principles in Topic 740 and amends existing guidance to improve consistent application. ASU 2019-12 is effective for the Company for fiscal years beginning after December 15, 2020, including interim periods therein. The Company adopted this standard as of January 1, 2021, which did not have material impact on its condensed consolidated financial statements and related disclosures. In January 2020, the FASB issued ASU No. 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)-Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the Emerging Issues Task Force). This update clarifies whether an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative and how to account for certain forward contracts and purchased options to purchase securities. For public entities, this guidance is effective for fiscal years beginning after December 15, 2020. The Company adopted this standard as of January 1, 2021, which did not have material impact on its condensed consolidated financial statements and related disclosures. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this ASU provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. LIBOR is expected to phased out by 2021. The amendments in this ASU are effective as of March 12, 2020 through December 31, 2022. The Company adopted this standard as of January 1, 2021, which did not have material impact on its condensed consolidated financial statements and related disclosures. In October 2020, the FASB issued ASU No. 2020-10,Codification Improvements. ASU 2020-10 provides amendments to a wide variety of topics in the FASB’s Accounting Standards Codification, which applies to all reporting entities within the scope of the affected accounting guidance. ASU 2020-10 is effective for the Company for fiscal years beginning after December 15, 2020, including interim periods therein. The Company adopted this standard as of January 1, 2021, which did not have material impact on its condensed consolidated financial statements and related disclosures. Recently Issued Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (ASU No. 2016-13), which requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial assets and certain other instruments, including but not limited to available-for-sale debt securities. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. As an emerging growth company, ASU No. 2016-13 is effective for the Company for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the impact of the adoption of ASU No. 2016-13 on its condensed consolidated financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table classifies the Company's financial assets and liabilities measured at fair value on a recurring basis into the fair value hierarchy as of June 30, 2021 and December 31, 2020 (in thousands): Fair Value Measured at June 30, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets included in: Cash and cash equivalents—Money market securities (1) $ 1 $ — $ — $ 1 Total fair value $ 1 $ — $ — $ 1 Liabilities included in: Warrants $ — $ — $ 514 $ 514 Total fair value $ — $ — $ 514 $ 514 Fair Value Measured at December 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets included in: Cash and cash equivalents—Money market securities (1) $ 1 $ — $ — $ 1 Total fair value $ 1 $ — $ — $ 1 Liabilities included in: Convertible notes $ — $ — $ 51,170 $ 51,170 Warrants — — 10,704 10,704 Series C convertible preferred stock — — 2,518 2,518 Total fair value $ — $ — $ 64,392 $ 64,392 __________________ (1) Included in cash and cash equivalents on the condensed consolidated balance sheets. This balance includes cash requirements settled on a nightly basis.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents changes in Level 3 liabilities measured at fair value (in thousands): Warrant Convertible Series C Convertible Preferred Stock at Fair Value Total Balance—December 31, 2020 10,704 51,170 2,518 64,392 Conversion of convertible notes into common stock — (58,639) — (58,639) Conversion of convertible Series C convertible preferred stock into common stock — — (6,110) (6,110) Net exercise of warrants (13,509) — — (13,509) Change in fair value 3,319 7,469 3,592 14,380 Balance—June 30, 2021 $ 514 $ — $ — $ 514
Fair Value Measurement Inputs and Valuation Techniques	A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the Company's warrant liabilities that are categorized within Level 3 of the fair value hierarchy as of June 30, 2021 and December 31, 2020 was as follows: June 30, December 31, 2021 2020 Strike price $ 8.01 $ 0.01 Contractual term (years) 2.2 4.9 Volatility (annual) 86.8 % 86.8 % Risk-free rate 0.7 % 0.1 % Dividend yield (per share) 0.0 % 0.0 %

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Property and Equipment, Net	The Company's property and equipment, net comprised the following (in thousands): June 30, December 31, 2021 2020 Equipment $ 775 $ 512 Furniture and fixtures 33 27 Leasehold improvements 59 43 Total property and equipment 867 582 Less: accumulated depreciation (455) (426) Property and equipment, net $ 412 $ 156
Schedule of Prepaid and Other Current Assets	Prepaid and other current assets comprised the following (in thousands): June 30, December 31, 2021 2020 Deferred offering costs $ — $ 1,978 Convertible note receivable — 5,000 Angion Pty tax — 352 Prepaid insurance 1,761 — Security deposit 90 — Other 538 360 Total prepaid and other current assets $ 2,389 $ 7,690
Schedule of Accrued Expenses	Accrued expenses comprised the following (in thousands): June 30, December 31, 2021 2020 Accrued compensation $ 4,093 $ 3,154 Accrued direct research costs 71 1,321 Accrued operating expenses 511 707 Accrued interest — 1,483 Total accrued expenses $ 4,675 $ 6,665

Series C Convertible Preferre_2

Series C Convertible Preferred Stock (Tables)	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Summary of Aggregate Values Recorded	The following table summarizes the aggregate values recorded for the Series C Preferred Stock as of December 31, 2020 (in thousands): At issuance December 31, 2020 Series C convertible preferred stock recorded at amortized cost Principal $ 22,308 $ 22,308 Settlement premium 5,577 5,577 Unamortized discounts and fees (9,250) (1,884) Net carrying amount $ 18,635 $ 26,001 Series C convertible preferred stock recorded at fair value Series C convertible preferred stock issued in exchange for convertible notes 2,254 Change in fair value of Series C convertible preferred stock exchanged for convertible notes 264 Total Series C convertible preferred stock $ 28,519

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Assumptions Used to Estimate Fair Value of Stock Option Awards	The following assumptions were used to estimate the fair value of stock option awards: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Risk-free interest rate 1.1% 0.4% 0.7% 0.7% Expected dividend yield — — — — Expected term in years 6.05 6.02 5.99 5.98 Expected volatility 74.3%-74.8% 73.0%-73.4% 73.8%-86.8% 70.8%-73.4%
Schedule of Share Option Activity	The following table summarizes information activity related to the Company’s share option plans: Number of Weighted Weighted Total Outstanding as of December 31, 2020 3,479,731 $ 6.97 8.4 $ 15,140 Options granted 1,024,121 15.89 — Options forfeited (6,809) 7.93 — Options exercised (8,650) 9.30 — Options expired (191) 7.77 — Outstanding as of June 30, 2021 4,488,202 $ 9.00 8.3 $ 26,230 Options vested and exercisable 2,172,339 $ 6.66 7.5 $ 17,061
Schedule of RSA and RSU Activity	The Company's RSA and RSU activity was as follows: Shares of Weighted Restricted Weighted Outstanding at December 31, 2020 14,585 $ 6.05 74,144 $ 6.50 Released (7,293) 6.05 (27,469) 6.33 Outstanding at June 30, 2021 7,292 $ 6.05 46,675 $ 7.97 Vested as of June 30, 2021 — 25,645 $ 8.40
Components of Stock-Based Compensation Expense	The following table summarizes the total stock-based compensation expense for the stock options, RSUs (including PSUs), RSAs and compensation issued in shares recorded in the condensed consolidated statements of operations (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Research and development $ 1,409 $ 388 $ 3,952 $ 826 General and administrative 1,309 707 3,883 1,101 Total $ 2,718 $ 1,095 $ 7,835 $ 1,927

Warrants (Tables)

Warrants (Tables)	6 Months Ended
	Jun. 30, 2021
Warrants and Rights Outstanding [Abstract]
Schedule of Outstanding Warrants	As of June 30, 2021 and December 31, 2020, the outstanding warrants to purchase the Company's common stock comprised the following: Classification Exercise Expiration June 30, 2021 December 31, 2020 Warrants issued with 2015 Notes Liability $ 6.43 7/5/28 — 388,396 Warrants issued with 2016 Notes Liability $ 6.43 7/5/28 — 538,933 Warrants issued with 2017 Notes Liability $ 6.43 7/5/28 — 79,265 Warrants issued with 2018 Notes Liability $ 6.43 7/5/28 — 498,567 Warrants issued with Conversion of Notes to Common Stock Equity $ 8.03 8/31/28 232,287 238,779 Warrants issued with Units in the Equity Offering Equity $ 8.03 8/31/28 875,811 907,860 Broker Warrants issued with Equity Offering Equity $ 0.01 8/31/25 1,297 48,485 Consultant Warrants Liability $ 7.60 8/31/28 39,505 39,506 Total Warrants 1,148,900 2,739,791
Schedule of Warrant Activity	The Company's warrant activity for the six months ended June 30, 2021 was as follows: Warrants Weighted Weighted Balance—December 31, 2020 2,739,791 $ 7.00 4.9 Exercised (1,587,979) 7.87 Returned/cancelled (2,912) 8.03 Balance—June 30, 2021 1,148,900 $ 8.01 2.2

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of components of rent expense	The following table provides the components of the Company's rent expense (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Operating leases Operating lease cost $ 317 $ 293 $ 590 $ 581 Variable cost 85 57 215 149 Operating lease expense 402 350 805 730 Short-term lease rent expense 3 3 42 64 Total rent expense $ 405 $ 353 $ 847 $ 794
Schedule of quantitative information regarding NovaPark operating leases	The following table summarizes quantitative information about the Company's NovaPark operating leases (dollars in thousands): Six Months Ended June 30, 2021 2020 Operating cash flows from operating leases $ 543 $ 628 Right-of-use assets exchanged for operating lease liabilities $ 624 $ 27 Weighted-average remaining lease term—operating leases (in years) 3.5 6.0 Weighted-average discount rate—operating leases 4.9 % 11.0 %
Schedule of maturities of lease liabilities	As of June 30, 2021, maturities of lease liabilities were as follows (in thousands): Years Ended December 31, Amounts 2021 (remaining six months) $ 645 2022 1,289 2023 1,305 2024 1,209 2025 1,104 Thereafter 516 Total 6,068 Less present value discount (1,289) Operating lease liabilities $ 4,779

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of net loss per share, basic and diluted	The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders, which excludes shares which are legally outstanding but subject to repurchase by the Company (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator Net loss attributable to common stockholders $ (17,072) $ (20,341) $ (53,759) $ (33,563) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 29,670,329 14,514,670 26,574,290 14,488,746 Net loss per share attributable to common stockholders, basic and diluted $ (0.58) $ (1.40) $ (2.02) $ (2.32)
Schedule of antidilutive securities excluded from computation of net loss per share	The table below provides potentially dilutive securities not included in the calculation of the diluted net loss per share because to do so would be anti-dilutive: Six Months Ended June 30, 2021 2020 Shares issuable upon exercise of stock options 4,488,202 2,403,432 Shares issuable upon the exercise of warrants 1,148,900 1,840,033 Shares issuable upon conversion of the convertible notes (1) — 1,990,847 Shares issuable upon conversion of the Series C preferred stock (1) — 938,175 Non-vested shares under restricted stock unit grants 46,675 56,250 Non-vested shares under restricted stock grants 7,292 14,063 Total 5,691,069 7,242,800 ___________________________________ (1) The number of shares issuable upon conversion of the 2019 Notes and 2020 Notes has been estimated using the Company's common stock fair value at June 30, 2020, discounted by 20%.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Equity Method Investments	The following table provides the activity for the NovaPark investment for the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Beginning balance $ 782 $ 877 $ 727 $ 849 (Losses) earnings from equity method investment (22) 28 45 56 Distribution from NovaPark (12) — (24) — Ending balance $ 748 $ 905 $ 748 $ 905

Description of the Business a_2

Description of the Business and Financial Condition (Details)	Feb. 09, 2021USD ($)$ / sharesshares	Feb. 01, 2021	Mar. 31, 2021USD ($)	Jun. 30, 2021USD ($)$ / sharesshares	Feb. 10, 2021USD ($)shares	Dec. 31, 2020USD ($)$ / sharesshares
Subsidiary, Sale of Stock [Line Items]
Stock split, conversion ratio		1.55583
Share price (in dollars per share) | $ / shares	$ 16
Convertible notes payable				$ 0	$ 0
Common stock, shares authorized (in shares) | shares	300,000,000			300,000,000		30,000,000
Preferred stock, shares authorized (in shares) | shares	10,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.01			$ 0.01		$ 0.01
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01
Cash and cash equivalents				$ 117,313,000		$ 34,607,000
Accumulated deficit				$ (214,321,000)		$ (160,562,000)
Series C Convertible Preferred Stock at Fair Value
Subsidiary, Sale of Stock [Line Items]
Convertible preferred stocks outstanding (in shares) | shares				0	0
IPO
Subsidiary, Sale of Stock [Line Items]
Shares sold in offering (in shares) | shares	5,750,000
Share price (in dollars per share) | $ / shares	$ 16
Net proceeds from issuance of common stock upon IPO and Concurrent Private Placement, net of discount and commissions	$ 85,600,000
Stock issuance costs	$ 6,400,000
Stock issuance costs			$ 9,300,000
Over-allotment option
Subsidiary, Sale of Stock [Line Items]
Shares sold in offering (in shares) | shares	750,000
Private placement
Subsidiary, Sale of Stock [Line Items]
Shares sold in offering (in shares) | shares	1,562,500
Net proceeds from issuance of common stock upon IPO and Concurrent Private Placement, net of discount and commissions	$ 24,300,000
Private placement fee rate	3.00%
Stock issuance costs	$ 700,000		$ 700,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	6 Months Ended
	Jun. 30, 2021USD ($)optionshares	Feb. 10, 2021USD ($)shares	Feb. 09, 2021USD ($)	Dec. 31, 2020USD ($)
Class of Stock [Line Items]
Number of operating segments | option	1
Deferred offering costs	$ 0		$ 2,800,000	$ 1,978,000
Convertible notes payable	$ 0	$ 0
Convertible Preferred Stock
Class of Stock [Line Items]
Convertible preferred stocks outstanding (in shares) | shares	0	0

Revenue and Deferred Revenue (D

Revenue and Deferred Revenue (Details) - USD ($) $ in Thousands	Feb. 09, 2021	Nov. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Contract revenue			$ 540	$ 0	$ 911	$ 0
Deferred revenue—current			5,181		$ 5,181		$ 3,942
License
Disaggregation of Revenue [Line Items]
Contract termination period, curable breach					60 days
Contract termination period, incurable breach					90 days
Vifor Pharma | License
Disaggregation of Revenue [Line Items]
Upfront and near-term milestone payment, entitled to receive		$ 80,000
Contract with customer, liability		30,000	28,900		$ 28,900
Equity securities	$ 30,000
Post-approval milestone payment, entitled to receive		260,000
Sales-related milestone payment, entitled to receive		1,585,000
Total milestone payment, entitled to receive		$ 1,925,000
Royalty rates (up to)		40.00%
Transaction price, percent of upfront payment		50.00%
Contract revenue			500		900
Deferred revenue—current			$ 5,200		$ 5,200
Vifor Pharma | License | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-11-06
Disaggregation of Revenue [Line Items]
Transaction price at inception of license agreement		$ 15,000
Performance period			9 years 6 months		9 years 6 months
Vifor Pharma | License | IPO
Disaggregation of Revenue [Line Items]
Equity investment received	5,000
Vifor Pharma | License | Private placement
Disaggregation of Revenue [Line Items]
Equity investment received	$ 25,000

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Liabilities included in:
Series C convertible preferred stock at fair value	$ 0	$ 2,518
Fair value measurements, recurring
Assets included in:
Cash and cash equivalents - Money market securities	1	1
Total fair value	1	1
Liabilities included in:
Convertible notes		51,170
Warrants	514	10,704
Series C convertible preferred stock at fair value		2,518
Total fair value	514	64,392
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair value measurements, recurring
Assets included in:
Cash and cash equivalents - Money market securities	1	1
Total fair value	1	1
Liabilities included in:
Convertible notes		0
Warrants	0	0
Series C convertible preferred stock at fair value		0
Total fair value	0	0
Significant Other Observable Inputs (Level 2) | Fair value measurements, recurring
Assets included in:
Cash and cash equivalents - Money market securities	0	0
Total fair value	0	0
Liabilities included in:
Convertible notes		0
Warrants	0	0
Series C convertible preferred stock at fair value		0
Total fair value	0	0
Significant Unobservable Inputs (Level 3) | Fair value measurements, recurring
Assets included in:
Cash and cash equivalents - Money market securities	0	0
Total fair value	0	0
Liabilities included in:
Convertible notes		51,170
Warrants	514	10,704
Series C convertible preferred stock at fair value		2,518
Total fair value	$ 514	$ 64,392

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value, Liabilities, Measured on Recurring Basis, Unobservable Input Reconciliation (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 64,392
Change in fair value	14,380
Ending balance	514
Warrant Liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	10,704
Settlements	(13,509)
Change in fair value	3,319
Ending balance	514
Convertible Notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	51,170
Settlements	(58,639)
Change in fair value	7,469
Series C Convertible Preferred Stock at Fair Value
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	2,518
Settlements	(6,110)
Change in fair value	$ 3,592

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	Feb. 09, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Feb. 10, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Conversion price of convertible notes (in dollars per share)	$ 11.57
Convertible notes payable		$ 0		$ 0		$ 0
Exercise price of equity-classified broker warrants (in dollars per share)		$ 6.43		$ 6.43
Change in fair value of warrant liability		$ (200,000)	$ 456,000	$ 3,319,000	$ 748,000
Series C Convertible Preferred Stock at Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible preferred stocks outstanding (in shares)		0		0		0
Convertible Preferred Stock Subject to Mandatory Redemption
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Conversion price of series C preferred stock (in dollars per share)	11.57
Convertible Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Conversion price of convertible notes (in dollars per share)	$ 11.57

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value Measurement Inputs and Valuation Techniques (Details)	Jun. 30, 2021$ / shares	Dec. 31, 2020$ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, contractual term	2 years 2 months 12 days	4 years 10 months 24 days
Strike price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	8.01	10
Volatility (annual)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.868	0.868
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.007	0.001
Dividend yield (per share)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0	0

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment	$ 867	$ 582
Less: accumulated depreciation	(455)	(426)
Property and equipment, net	412	156
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment	775	512
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	33	27
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	$ 59	$ 43

Balance Sheet Components - Narr

Balance Sheet Components - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation	$ 23	$ 47	$ 29	$ 74

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Prepaid and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Feb. 09, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred offering costs	$ 0	$ 2,800	$ 1,978
Convertible note receivable	0		5,000
Angion Pty tax	0		352
Prepaid insurance	1,761		0
Security deposit	90		0
Other	538		360
Total prepaid and other current assets	$ 2,389		$ 7,690

Balance Sheet Components - Sc_3

Balance Sheet Components - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued compensation	$ 4,093	$ 3,154
Accrued direct research costs	71	1,321
Accrued operating expenses	511	707
Accrued interest	0	1,483
Total accrued expenses	$ 4,675	$ 6,665

Convertible Notes Payable (Deta

Convertible Notes Payable (Details) - USD ($)	Feb. 09, 2021	Jan. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Debt Conversion [Line Items]
Share price (in dollars per share)	$ 16
Conversion price (in dollars per share)	11.57
Convertible notes payable					$ 0
IPO
Debt Conversion [Line Items]
Share price (in dollars per share)	$ 16
Common Stock | IPO
Debt Conversion [Line Items]
Conversion of convertible notes (in shares)			3,636,189
2020 Notes | Common Stock
Debt Conversion [Line Items]
Conversion of convertible notes (in shares)		33,978
Additional Convertible Notes and Vifor Convertible Note | Common Stock
Debt Conversion [Line Items]
Conversion of convertible notes (in shares)	3,636,189
Convertible Notes
Debt Conversion [Line Items]
Aggregate principal amount of convertible notes issued				$ 39,800,000
Accrued interest				$ 1,800,000
Conversion price (in dollars per share)	$ 11.57

Series C Convertible Preferre_3

Series C Convertible Preferred Stock - Summary of Aggregate Values Recorded (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Feb. 09, 2021	Dec. 31, 2020
Series C convertible preferred stock recorded at amortized cost
Principal		$ 22,308	$ 22,308
Settlement premium		5,577	5,577
Unamortized discounts and fees		(9,250)	(1,884)
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Current	$ 0	$ 18,635	26,001
Series C convertible preferred stock recorded at fair value
Series C convertible preferred stock issued in exchange for convertible notes			2,254
Change in fair value of Series C convertible preferred stock exchanged for convertible notes			264
Total Series C convertible preferred stock			$ 28,519

Series C Convertible Preferre_4

Series C Convertible Preferred Stock - Additional Information (Details) - $ / shares	Jun. 30, 2021	Feb. 09, 2021
Class of Stock [Line Items]
Share price (in dollars per share)		$ 16
Series C preferred stock
Class of Stock [Line Items]
Shares of common stock into which all convertible preferred stock outstanding were automatically converted into (in shares)		2,234,640
Convertible preferred stock, conversion price (in dollars per share)		$ 11.57
Shares of convertible preferred stock (in shares)	0
IPO
Class of Stock [Line Items]
Share price (in dollars per share)		$ 16

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2021	Feb. 09, 2021	Dec. 31, 2020
Equity [Abstract]
Shares authorized (in shares)		310,000,000
Common stock, shares authorized (in shares)	300,000,000	300,000,000	30,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)		10,000,000
Preferred stock, par value (in dollars per share)		$ 0.01
Treasury stock	$ 4,210		$ 1,846

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 09, 2021	Jan. 25, 2021	Jun. 30, 2021	Jun. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jan. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value per share for stock option grants (in dollars per share)					$ 9.29	$ 5.04	$ 8.89	$ 5.34
Unrecognized compensation related to unvested stock option awards			$ 9.5		$ 9.5		$ 9.5
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield					0.00%	0.00%	0.00%	0.00%
Unrecognized compensation related to unvested stock option awards, period for recognition (in years)							2 years 8 months 12 days
Performance-based Restricted Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSUs outstanding that were granted (in shares)				556,530
PSUs vested and released (in shares)	185,510		185,510
Non-option equity instruments outstanding (in shares)			185,510		185,510		185,510
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance (in shares)			0		0		0
Shares reserved for future issuance (in shares)									390,000
Shares available for purchase under the ESPP (in shares)			390,000		390,000		390,000
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Post-IPO capitalization rate		11.00%
Shares authorized for issuance (in shares)		60,000,000

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Assumptions Used to Estimate Fair Value of Stock Option Awards (Details) - Stock Option	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.10%	0.40%	0.70%	0.70%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Expected term in years	6 years 18 days	6 years 7 days	5 years 11 months 26 days	5 years 11 months 23 days
Expected volatility, minimum	74.30%	73.00%	73.80%	70.80%
Expected volatility, maximum	74.80%	73.40%	86.80%	73.40%

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Share Option Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares
Number of Shares
Outstanding at beginning of period (in shares) | shares	3,479,731
Options granted (in shares) | shares	1,024,121
Options forfeited (in shares) | shares	(6,809)
Options exercised (in shares) | shares	(8,650)
Options expired (in shares) | shares	(191)
Outstanding at end of period (in shares) | shares	4,488,202	3,479,731
Options vested and exercisable (in shares) | shares	2,172,339
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 6.97
Options granted (in dollars per share) | $ / shares	15.89
Options forfeited (in dollars per share) | $ / shares	7.93
Options exercised (in dollars per share) | $ / shares	9.30
Options expired (in dollars per share) | $ / shares	7.77
Outstanding at end of period (in dollars per share) | $ / shares	9	$ 6.97
Options vested and exercisable (in dollars per share) | $ / shares	$ 6.66
Stock Option Activity, Additional Disclosures
Options outstanding, weighted average remaining contractual life (in years)	8 years 3 months 18 days	8 years 4 months 24 days
Options vested and exercisable, weighted average remaining contractual life (in years)	7 years 6 months
Options outstanding, total intrinsic value | $	$ 26,230	$ 15,140
Options vested and exercisable, total intrinsic value | $	$ 17,061

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of RSA and RSU Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Shares of Restricted Stock
Shares of Restricted Stock and Restricted Stock Units Activity
Outstanding at beginning of period (in shares)	14,585
Released (in shares)	(7,293)
Outstanding at end of period (in shares)	7,292
Shares of Restricted Stock and Restricted Stock Units Weighted Average Grant Date Fair Value Per Share
Outstanding at beginning of period (in dollars per share)	$ 6.05	$ 6.05
Released (in dollars per share)	6.05
Outstanding at end of period (in dollars per share)	$ 6.05
Restricted Stock Units
Shares of Restricted Stock and Restricted Stock Units Activity
Outstanding at beginning of period (in shares)	74,144
Released (in shares)	(27,469)
Outstanding at end of period (in shares)	46,675
Vested at end of period (in shares)	25,645
Shares of Restricted Stock and Restricted Stock Units Weighted Average Grant Date Fair Value Per Share
Outstanding at beginning of period (in dollars per share)	$ 7.97	$ 6.50
Released (in dollars per share)	6.33
Outstanding at end of period (in dollars per share)	7.97
Vested at end of period (in dollars per share)	$ 8.40

Stock-Based Compensation - Comp

Stock-Based Compensation - Components of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 2,718	$ 1,095	$ 7,835	$ 1,927
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	1,409	388	3,952	826
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 1,309	$ 707	$ 3,883	$ 1,101

Warrants - Outstanding Warrants

Warrants - Outstanding Warrants (Details) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 6.43
Warrants outstanding (in shares)	1,148,900	2,739,791
Warrants issued with 2015 Notes, Liability
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)		$ 6.43
Warrants outstanding (in shares)		388,396
Warrants issued with 2016 Notes, Liability
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)		$ 6.43
Warrants outstanding (in shares)		538,933
Warrants issued with 2017 Notes, Liability
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)		$ 6.43
Warrants outstanding (in shares)		79,265
Warrants issued with 2018 Notes, Liability
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)		$ 6.43
Warrants outstanding (in shares)		498,567
Warrants issued with Conversion of Notes to Common Stock, Equity
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 8.03
Warrants outstanding (in shares)	232,287	238,779
Warrants issued with Units in the Equity Offering, Equity
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 8.03
Warrants outstanding (in shares)	875,811	907,860
Broker Warrants issued with Equity Offering, Equity
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 0.01
Warrants outstanding (in shares)	1,297	48,485
Consultant Warrants, Liability
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 7.60
Warrants outstanding (in shares)	39,505	39,506

Warrants - Narrative (Details)

Warrants - Narrative (Details) - $ / shares	1 Months Ended	3 Months Ended
	Feb. 28, 2021	Jun. 30, 2021
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)		$ 6.43
Warrant conversion price (in dollars per share)	$ 11.57
Common Stock
Class of Warrant or Right [Line Items]
Exercise of warrants (in shares)	844,335	22,714
Warrants issued with 2015 Notes, 2016 Notes, 2017 Notes, and 2018 Notes
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 6.43

Warrants - Warrant Activity (De

Warrants - Warrant Activity (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Warrants
Balance, beginning (in shares)	2,739,791
Exercised (in shares)	(1,587,979)
Returned/cancelled (in shares)	(2,912)
Balance, ending (in shares)	1,148,900	2,739,791
Weighted Average Exercise Price
Balance, beginning (in dollars per share)	$ 7
Exercised (in dollars per share)	7.87
Returned/cancelled (in dollars per share)	8.03
Balance, ending (in dollars per share)	$ 8.01	$ 7
Weighted Average Remaining Contractual Life (in years)
Balance, weighted average remaining contractual life (in years)	2 years 2 months 12 days	4 years 10 months 24 days

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Thousands	May 26, 2021USD ($)	Feb. 28, 2021USD ($)ft²option	Jul. 31, 2020USD ($)	Apr. 30, 2020USD ($)	Jun. 30, 2021USD ($)ft²	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)ft²	Jun. 30, 2020USD ($)
Lessee, Lease, Description [Line Items]
Proceeds from loan from Paycheck Protection Program of the 2020 CARES Act							$ 0	$ 895
Gain upon debt extinguishment	$ 900				$ 905	$ 0	$ 905	$ 0
Paycheck Protection Program, CARES Act
Lessee, Lease, Description [Line Items]
Proceeds from loan from Paycheck Protection Program of the 2020 CARES Act				$ 900
New Jersey
Lessee, Lease, Description [Line Items]
Area of office space (in sqft) | ft²					2,105		2,105
Operating lease, payment per year							$ 100
California
Lessee, Lease, Description [Line Items]
Operating lease, payment per year			$ 13
Massachusetts
Lessee, Lease, Description [Line Items]
Area of office space (in sqft) | ft²		6,157
Operating lease, payment per year		$ 200
Free rent expense period		4 months
Number of options to extend | option		1
Renewal term		3 years
Notice period for option to extend		9 months

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Components of Rent Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating leases
Operating lease cost	$ 317	$ 293	$ 590	$ 581
Variable cost	85	57	215	149
Operating lease expense	402	350	805	730
Short-term lease rent expense	3	3	42	64
Total rent expense	$ 405	$ 353	$ 847	$ 794

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Quantitative Information about Operating Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Operating cash flows from operating leases	$ 543	$ 628
Right-of-use assets exchanged for operating lease liabilities	$ 624	$ 27
Weighted-average remaining lease term—operating leases (in years)	3 years 6 months	6 years
Weighted-average discount rate—operating leases	4.90%	11.00%

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021 (remaining six months)	$ 645
2022	1,289
2023	1,305
2024	1,209
2025	1,104
Thereafter	516
Total	6,068
Less present value discount	(1,289)
Operating lease liabilities	$ 4,779

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax provision	$ 0	$ 800	$ 800	$ 800
Effective tax rate		0.00%	0.00%	0.00%

Employee Benefit Plan - Narrati

Employee Benefit Plan - Narrative (Details) - Employee Benefit Plan	6 Months Ended
	Jun. 30, 2021
Defined Contribution Plan Disclosure [Line Items]
Employers matching contribution annual vesting (in percentage)	100.00%
Employer matching contribution, percent of employees' gross pay, 100% employer match	3.00%
Minimum
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percent of employees' gross pay, 50% employer match	4.00%
Maximum
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percent of employees' gross pay, 50% employer match	5.00%

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of net loss per share, basic and diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator
Net loss	$ (17,072)	$ (36,687)	$ (20,341)	$ (13,222)	$ (53,759)	$ (33,563)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	29,670,329		14,514,670		26,574,290	14,488,746
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	29,670,329		14,514,670		26,574,290	14,488,746
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.58)		$ (1.40)		$ (2.02)	$ (2.32)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.58)		$ (1.40)		$ (2.02)	$ (2.32)

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of antidilutive securities excluded from computation of net loss per share (Details)	6 Months Ended
	Jun. 30, 2021shares	Jun. 30, 2020shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	5,691,069	7,242,800
Discount rate		0.20
Shares issuable upon exercise of stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	4,488,202	2,403,432
Shares issuable upon the exercise of warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,148,900	1,840,033
Shares issuable upon conversion of the convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	1,990,847
Shares issuable upon conversion of the Series C preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	938,175
Non-vested shares under restricted stock unit grants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	46,675	56,250
Non-vested shares under restricted stock grants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	7,292	14,063

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($)	Feb. 09, 2021	Nov. 30, 2013	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Feb. 10, 2021	Jul. 31, 2017
Related Party Transaction [Line Items]
Operating lease cost			$ 317,000	$ 293,000	$ 590,000	$ 581,000
Variable cost			85,000	57,000	215,000	149,000
Conversion price (in dollars per share)	$ 11.57
Convertible notes payable			$ 0		$ 0		$ 0
Series C preferred stock
Related Party Transaction [Line Items]
Conversion of convertible preferred stock into common stock upon IPO (in shares)	2,234,640
Convertible preferred stock, conversion price (in dollars per share)	$ 11.57
Shares of convertible preferred stock (in shares)			0		0
Ohr Cosmetics, LLC
Related Party Transaction [Line Items]
Potential maximum milestone payment		$ 9,000,000
Royalties and milestone payments, period		15 years
Immediate Family of Executive Chairman | Ohr Cosmetics, LLC
Related Party Transaction [Line Items]
Family of the Executive Chairman investment, ownership percentage					81.30%
Affiliated Entity | Legal Services
Related Party Transaction [Line Items]
Expenses from transactions with related party			$ 0	17,000	$ 0	17,000
Affiliated Entity | Ohr Cosmetics, LLC | License
Related Party Transaction [Line Items]
Revenue from license agreement			0	0	0	0
Equity Method Investee | NovaPark
Related Party Transaction [Line Items]
Operating lease cost			300,000	300,000	500,000	500,000
Variable cost			$ 100,000	100,000	$ 200,000	100,000
Directors and Family Member of Chief Executive Officer/Director | Common Stock
Related Party Transaction [Line Items]
Conversion of convertible notes (in shares)	149,500
Conversion price (in dollars per share)	$ 11.57
Chief Executive Officer and Director | Series C preferred stock
Related Party Transaction [Line Items]
Conversion of convertible preferred stock into common stock upon IPO (in shares)	165,094
Convertible preferred stock, conversion price (in dollars per share)	$ 11.57
Shares of convertible preferred stock (in shares)			0		0
Immediate Family Member of Management or Principal Owner | Consulting Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party			$ 22,000	0	$ 59,000	29,000
Former Member of the Board of Directors | Consulting Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party			$ 18,000	$ 36,000	$ 45,000	$ 45,000
Ohr Cosmetics, LLC
Related Party Transaction [Line Items]
Investment, ownership percentage			2.40%		2.40%
Ohr Cosmetics, LLC | Affiliated Entity
Related Party Transaction [Line Items]
Investment, at cost								$ 150,000
NovaPark | Equity Method Investee
Related Party Transaction [Line Items]
Equity method investment, ownership percentage			10.00%		10.00%

Related Party Transactions - No

Related Party Transactions - Nova Park Investment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Equity Method Investments [Roll Forward]
(Losses) earnings from equity method investment			$ 45	$ 56
Distribution from NovaPark			(24)	0
NovaPark | Equity Method Investee
Equity Method Investments [Roll Forward]
Beginning balance	$ 782	$ 877	727	849
(Losses) earnings from equity method investment	(22)	28	45	56
Distribution from NovaPark	(12)	0	(24)	0
Ending balance	$ 748	$ 905	$ 748	$ 905