Elicio Therapeutics (ELTX) 10-Q 10 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 05, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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	7-57 Wells Avenue
Entity Address, City or Town	Newton
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02459
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 (in shares)		30,113,703
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
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	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 29,219	$ 50,487
Prepaid expenses and other current assets	1,730	943
Notes receivable	9,678	0
Total current assets	40,627	51,430
Property and equipment, net	0	273
Operating lease right-of-use assets	126	152
Investments in related parties	150	874
Other assets	864	61
Total assets	41,767	52,790
Current liabilities
Accounts payable	692	2,720
Accrued expenses	1,103	2,569
Operating lease liabilities, current	227	994
Financing obligation, current	0	67
Warrant liability	9	19
Total current liabilities	2,031	6,369
Operating lease liabilities, noncurrent	70	2,481
Financing obligation, noncurrent	0	168
Total liabilities	2,101	9,018
Commitments and contingencies - Note 10
Stockholders' equity
Common stock, $0.01 par value per share; 300,000,000 shares authorized; 30,114,190 and 30,113,946 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	301	301
Additional paid-in capital	297,679	297,327
Accumulated other comprehensive income	165	86
Accumulated deficit	(258,479)	(253,942)
Total stockholders' equity	39,666	43,772
Total liabilities and stockholders' equity	$ 41,767	$ 52,790

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
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	300,000,000
Common stock, shares issued (in shares)	30,114,190	30,113,946
Common stock, shares outstanding (in shares)	30,114,190	30,113,946

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue:
Contract revenue	$ 0	$ 1,648
Total revenue	0	1,648
Operating expenses:
Research and development	326	11,667
General and administrative	4,281	4,466
Total operating expenses	4,607	16,133
Loss from operations	(4,607)	(14,485)
Other income (expense)
Change in fair value of warrant liability	10	39
Change in fair value of notes receivable	(322)	0
Foreign exchange transaction gain (loss)	(87)	111
Earnings from equity method investment	0	9
Interest income, net	469	86
Total other income	70	245
Net loss	(4,537)	(14,240)
Other comprehensive income:
Foreign currency translation adjustment	79	(96)
Comprehensive loss	$ (4,458)	$ (14,336)
Net loss per common share, basic (in dollars per share)	$ (0.15)	$ (0.48)
Net loss per common share, diluted (in dollars per share)	$ (0.15)	$ (0.48)
Weighted average common shares outstanding, basic (in shares)	30,114,113	29,959,251
Weighted average common shares outstanding, diluted (in shares)	30,114,113	29,959,251

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at beginning of period (in shares) at Dec. 31, 2021		29,959,060
Beginning balance at Dec. 31, 2021	$ 81,507	$ 300	$ 0	$ 296,445	$ (103)	$ (215,135)
Treasury stock, beginning balance (in shares) at Dec. 31, 2021			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon net settlement of restricted stock units and performance stock units (in shares)		365
Stock-based compensation	31			31
Foreign currency translation adjustment	(96)				(96)
Net loss	(14,240)					(14,240)
Balance at end of period (in shares) at Mar. 31, 2022		29,959,425
Ending balance at Mar. 31, 2022	$ 67,202	$ 300	$ 0	296,476	(199)	(229,375)
Treasury stock, ending balance (in shares) at Mar. 31, 2022			0
Balance at beginning of period (in shares) at Dec. 31, 2022	30,113,946	30,113,946
Beginning balance at Dec. 31, 2022	$ 43,772	$ 301		297,327	86	(253,942)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon net settlement of restricted stock units and performance stock units (in shares)		244
Stock-based compensation	352			352
Foreign currency translation adjustment	79				79
Net loss	$ (4,537)					(4,537)
Balance at end of period (in shares) at Mar. 31, 2023	30,114,190	30,114,190
Ending balance at Mar. 31, 2023	$ 39,666	$ 301		$ 297,679	$ 165	$ (258,479)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (4,537)	$ (14,240)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	22	32
Amortization of right-of-use assets	26	196
Stock-based compensation	352	31
Change in fair value of notes receivable	322	0
Change in fair value of warrant liability	(10)	(39)
Loss on disposal of property and equipment, net	251	0
Earnings from equity investment	0	(9)
Loss on termination of lease obligation	52	0
Loss on termination of financing obligation	23	0
Changes in operating assets and liabilities:
Grants receivable	0	806
Prepaid expenses and other current assets	(766)	(1,515)
Other assets	(851)	28
Accounts payable	(1,834)	(1,323)
Accrued expenses	(1,074)	2,023
Lease liabilities	(55)	(215)
Deferred revenue	0	(1,648)
Other liabilities, noncurrent	0	220
Net cash used in operating activities	(8,079)	(15,653)
Cash flows from investing activities:
Issuance of notes receivable	(10,000)	0
Net cash used in investing activities	(10,000)	0
Cash flows from financing activities:
Payment of financing obligation	(15)	(14)
Payment to terminate lease obligation	(3,025)	0
Payment to terminate financing obligation	(228)	0
Net cash used in financing activities	(3,268)	(14)
Effect of foreign currency on cash	79	(87)
Net decrease in cash and cash equivalents	(21,268)	(15,754)
Cash and cash equivalents at the beginning of the period	50,487	88,756
Cash and cash equivalents at the end of the period	$ 29,219	$ 73,002

Description of the Business and

Description of the Business and Financial Condition	3 Months Ended
	Mar. 31, 2023
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” or the “Company”) had been a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel small molecule therapeutics to address chronic and progressive fibrotic diseases, prior to its 2022 Strategic Realignment announced in July 2022 whereby the Company announced its process to explore strategic options for enhancing and preserving shareholder value (“2022 Strategic Realignment”)(See Note 11). The Company was incorporated in Delaware in 1998. On January 17, 2023, the Company entered into a definitive merger agreement (the “Merger Agreement”) with Elicio Therapeutics, Inc. (“Elicio”) under which Elicio will merge with a wholly-owned subsidiary of Angion in an all-stock transaction (the “Merger”). Upon completion of the Merger, the combined company will focus on advancing Elicio’s proprietary lymph node AMP technology to develop immunotherapies, with a focus on ELI-002, a therapeutic cancer vaccine targeting mKRAS-driven tumors. Angion has suspended clinical development activities in anticipation of completion of the announced Merger, and does not have any products approved for sale. 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. As of March 31, 2023, the Company had $29.2 million in cash and cash equivalents and an accumulated deficit of $258.5 million. The Company has evaluated and concluded there are no conditions or events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern for a period of one year following the date these condensed consolidated financial statements are issued and believes its existing cash and cash equivalents will be sufficient to meet the projected operating requirements for at least 12 months following the issuance date of its condensed consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
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 significant accounting policies are described in Note 2 to its consolidated financial statements for the year ended December 31, 2022, included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 17, 2023 (the “Annual Report on Form 10-K”). There have been no material changes to the Company’s significant accounting policies during the three months ended March 31, 2023. 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 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, 2022 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, 2022 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. 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, the valuation of its notes receivable, 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 maintains its cash equivalents in securities and money market funds with original maturities less than three months. On March 10, 2023, Silicon Valley Bank (SVB), at which the Company maintained substantially all of its cash and cash equivalents in multiple accounts and in amounts exceeding federally insured limits, was closed by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The failure of SVB exposed the Company to liquidity and credit risk prior to the completion of the FDIC resolution of SVB in a manner that fully protects all depositors. At the end of March 2023, Angion transferred substantially all of its cash and cash equivalents from SVB to an asset manager. If the Company is unable to access its cash and cash equivalents as needed, its financial position and ability to operate its business will be adversely affected. 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 March 31, 2023 and December 31, 2022, 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. 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. Notes Receivable at Fair Value As permitted under ASC 825, Financial Instruments ("ASC 825"), the Company has elected the fair value option for the notes receivable (“Notes”) issued to Elicio. In accordance with ASC 825, the Company recognizes these Notes at fair value with changes in fair value recognized in the condensed consolidated statement 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 issuance of the Notes were recognized in the condensed consolidated statement of operations as incurred and not deferred. The estimated fair value of the Notes is determined by utilizing a scenario-based analysis considering possible outcomes available to the holders of the Notes. See Note 4. Accrued interest receivable for the Notes has been included in the change in fair value of the Notes in the condensed consolidated statement of operations. 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. Research and development costs may be offset by research and development refundable tax rebates received by the Company’s wholly-owned Australian subsidiary. 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 months ended March 31, 2023 and 2022, the Company has not experienced any material differences between accrued costs and actual costs incurred. 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 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 months ended March 31, 2023 and 2022, basic and diluted net loss per common share are the same. Recently Issued Accounting Pronouncements 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. The Company adopted ASU No. 2016-13 on January 1, 2023 and the adoption of the standard had no material impact on its condensed consolidated financial statements.

Revenue and Deferred Revenue

Revenue and Deferred Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue and Deferred Revenue	Revenue and Deferred Revenue 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”), with headquarters located 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. Vifor License Agreement In November 2020, the Company granted Vifor Pharma, an exclusive, global (excluding Greater China), royalty-bearing license for the commercialization of ANG-3777 in all Renal Indications, beginning with delayed graft function (DGF) and AKI associated with cardiac surgery involving cardiopulmonary bypass (CSA-AKI). The Vifor License also grants Vifor Pharma exclusive rights, with a right to sublicense subject to Company’s consent for certain specified conditions, to develop and manufacture ANG-3777 for commercialization in Renal Indications worldwide (excluding Greater China) in cooperation with Angion or independently. The Company retains the right to develop and commercialize combination therapy products combining ANG-3777 with its other proprietary molecules, subject to Vifor Pharma's right of first negotiation with respect to global (excluding Greater China) rights to such combination therapy products in the Renal Indications. Pursuant to the Vifor License and specifically based upon the clinical development plan for ANG-3777 set forth in the Vifor License, the Company was entitled to receive $80 million in upfront and near-term clinical milestone payments. The Company received $60.0 million in upfront and equity payments, including $30.0 million in up-front cash 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 the Company’s IPO. The Company was 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 DGF and CSA-AKI. For the three months ended March 31, 2022, the Company recognized $1.6 million contract revenue related to the Vifor License. The Company completed its performance obligations under the Vifor License agreement and recognized all deferred revenue in 2022.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsThe following tables present the Company's financial assets and liabilities measured at fair value on a recurring basis and their assigned levels within the fair value hierarchy (in thousands): March 31, 2023 Level 1 Level 2 Level 3 Total Money market funds (1) $ 28,284 $ — $ — $ 28,284 Notes receivable — — 9,678 9,678 Total assets $ 28,284 $ — $ 9,678 $ 37,962 Warrant liabilities $ — $ — $ 9 $ 9 Total liabilities $ — $ — $ 9 $ 9 December 31, 2022 Level 1 Level 2 Level 3 Total Money market funds (1) $ 9,860 $ — $ — $ 9,860 Total assets $ 9,860 $ — $ — $ 9,860 Warrant liabilities $ — $ — $ 19 $ 19 Total liabilities $ — $ — $ 19 $ 19 _________________ (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 a summary of changes in Level 3 assets and liabilities measured at fair value (in thousands): Warrants Liability Notes Receivable Balance, beginning of the period $ 19 $ — Issuance of Notes receivable — 10,000 Change in fair value (10) (322) Balance, end of the period $ 9 $ 9,678 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 assets and 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 change in the fair value of the notes receivable for which the fair value option was elected (see Note 6) for the three months ended March 31, 2023, was related to the changes in market rates and probabilities related to certain scenarios, as well as the passage of time from the original issuance date. 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. The Company records the change in the fair value of common stock warrants in change in fair value of warrant liability in the condensed consolidated statements of operations. The fair value of the common stock warrant liability was estimated using the following assumptions: March 31, December 31, Weighted average strike price $7.60 $7.60 Contractual term (years) 5.4 5.7 Volatility (annual) 100.0% 112.4% Risk-free rate 3.9% 4.3% Dividend yield (per share) 0.0% 0.0%

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	Balance Sheet Components Prepaid and Other Current Assets Prepaid and other current assets consisted of the following (in thousands): March 31, December 31, Angion Pty tax receivable $ 305 $ 305 Prepaid insurance 967 291 Security deposit 53 101 Other 405 246 Total prepaid and other current assets $ 1,730 $ 943 Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): March 31, December 31, Equipment $ — $ 866 Furniture and fixtures — 34 Leasehold improvements — 68 Total property and equipment — 968 Less: accumulated depreciation — (695) Property and equipment, net $ — $ 273 Depreciation expense for each of the three months ended March 31, 2023 and 2022 was immaterial. All property and equipment was disposed as of March 31, 2023 and the Company recognized a loss on disposal of $0.3 million in the condensed consolidated statements of operations. Accrued Expenses Accrued expenses consisted of the following (in thousands): March 31, December 31, Accrued compensation $ 130 $ 112 Accrued restructuring (Note 11) 242 1,572 Accrued direct research costs 236 774 Accrued operating expenses 495 111 Total accrued expenses $ 1,103 $ 2,569

Notes Receivable

Notes Receivable	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Notes Receivable	Notes Receivable In connection with execution of the Merger Agreement, Angion made a bridge loan to Elicio pursuant to a note purchase agreement (Note Purchase Agreement) and Notes up to an aggregate principal amount of $12.5 million. The Notes were issued at a 20% original issue discount, with an initial closing held substantially concurrently with the execution of the Merger Agreement for a principal amount of $6.25 million on account of a $5.0 million loan in January 2023 and an additional closing for a principal amount of $6.25 million on account of a $5.0 million loan upon delivery by Elicio to Angion of Elicio’s audited financial statements for the year ended December 31, 2022 in March 2023. The Notes mature one year from their issuance date and bear simple interest at 1.0% annually from and after the date of the Merger Agreement based on a principal amount equal to the amount actually advanced by Angion. As of March 31, 2023, Angion has issued an aggregate loan amount of $10 million which is recorded at a fair value of $9.68 million in notes receivable included within current assets on the condensed consolidated balance sheet. The Company has elected the fair value option for recognition of the Notes. As such, the Notes are recognized at their estimated fair value with changes in fair value recognized in the condensed consolidated statements of operations. A loss of $0.4 million was recognized for the initial fair value upon the issuance of the Notes, and a gain of $0.1 million was then recognized for the three months ended March 31, 2023 for the change in fair value of the Notes. Accrued interest for the Notes has been included in the change in fair value of notes receivable in the condensed consolidated statements of operations.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2023
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.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Options The fair value of each employee and non-employee stock option grant was estimated on the date of grant using the Black-Scholes option-pricing model based on the following assumptions. The following table summarizes information and activity related to the Company’s stock options: Number of Weighted Average Weighted Average Total Outstanding as of December 31, 2022 3,726,247 $ 6.30 7.0 $ — Options forfeited (46,561) 6.54 Outstanding as of March 31, 2023 3,679,686 $ 6.30 6.9 $ — Options vested and exercisable 2,599,189 $ 6.82 6.2 $ — 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. No stock options were granted in the three months ended March 31, 2023. The weighted average grant date fair value per share for the stock option grants during the three months ended March 31, 2022 was $1.19. As of March 31, 2023, the total unrecognized compensation related to unvested stock option awards granted was $1.1 million, which the Company expects to recognize over a weighted-average period of approximately 2.3 years. Restricted Stock Units (RSUs) The following table summarizes information and activity related to the Company’s RSUs: Number of Weighted Outstanding at December 31, 2022 16,046 $ 9.51 Vested and released (244) $ 9.51 Outstanding as of March 31, 2023 15,802 $ 9.51 Performance-based Restricted Stock Units (PSUs) The Company granted 556,530 PSUs 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 were released in June 2021 and July 2022 upon the second and third anniversary of the grants, respectively, therefore, as of March 31, 2023 , the Company had no PSUs outstanding. Stock-based Compensation Expense The following table summarizes total stock-based compensation expense recorded in the condensed consolidated statements of operations (in thousands): Three Months Ended 2023 2022 Research and development $ 41 $ (448) General and administrative 311 479 Total $ 352 $ 31 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 March 31, 2023, 689,583 shares under the ESPP remain available for purchase and no offerings have been authorized.

Warrants

Warrants	3 Months Ended
	Mar. 31, 2023
Warrants and Rights Outstanding [Abstract]
Warrants	Warrants As of March 31, 2023 and December 31, 2022, outstanding warrants to purchase the Company's common stock consisted of the following: Classification Exercise Price Expiration Date March 31, December 31, Warrants issued with conversion of Convertible Notes to Common Stock Equity $ 8.03 8/31/23 232,287 232,287 Warrants issued with Units in the Equity Offering Equity $ 8.03 8/31/23 875,034 875,034 Broker Warrants issued with Equity Offering Equity $ 0.01 8/31/25 1,297 1,297 Consultant Warrants Liability $ 7.60 8/31/28 39,505 39,505 Total Warrants 1,148,123 1,148,123 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 in the condensed consolidated balance sheets. There was no warrant activity during the three months ended March 31, 2023.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases The Company leased office and laboratory space in Uniondale, New York from NovaPark, a related party, under an agreement classified as an operating lease expiring on June 20, 2026. The Company's lease did 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 did not act as a lessor or have any leases classified as financing leases. In March 2023, the Company entered into a Surrender Agreement with NovaPark LLC which terminated its Uniondale, New York lease. The Surrender Agreement also provided that no other rent or charges would be due from the Company with respect to any period prior to or subsequent to the surrender of the property to NovaPark, thereby relieving the Company of lease payments equal to approximately $3.86 million, plus other amounts for facility fees and utilities with respect to the Property. See Note 15 for additional information. The Company leased 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. This arrangement was excluded from the calculation of lease liabilities and right of use assets as its term was less than one year. The lease was subject to charges for common area maintenance and other costs. The Company did not renew the New Jersey lease and it expired on March 31, 2022. In July 2020, the Company entered into a lease for office furniture in San Francisco, California set to expire in July 2025, with an immaterial annual lease payment. 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 had four 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 three years with nine months’ notice. As of April 1, 2023 the Company’s primary business address is associated with the Newton’s lease. The following table summarizes the components of the Company's operating lease costs (in thousands): Three Months Ended 2023 2022 Operating lease cost $ 27 $ 413 Variable lease cost — 52 Short-term lease cost — 6 Total operating lease cost $ 27 $ 471 The following table summarizes quantitative information about the Company's operating leases (dollars in thousands): Three Months Ended 2023 2022 Operating cash flows from operating leases $ 57 $ 323 Right-of-use assets exchanged for operating lease liabilities $ — $ — Weighted-average remaining lease term—operating leases (in years) 1.2 3.7 Weighted-average discount rate—operating leases 2.1 % 9.4 % As of March 31, 2023, maturities of lease liabilities were as follows (in thousands): Year Ended December 31, Amounts 2023 (remaining nine months) $ 173 2024 123 2025 7 Total 303 Less present value discount (6) Operating lease liabilities $ 297 Financing obligation In 2021, the Company entered into an immaterial sale and leaseback arrangement with a third-party financing institution as a financing mechanism to fund certain of its capital expenditures primarily related to operating equipment, whereby the physical asset is sold concurrent with an agreement to lease the asset back. The initial leaseback term is 42 months starting from November 2021. The arrangement included a renewal option as well as a repurchase option at fair value with a cap at the end of the term. The arrangement did not qualify as an asset sale as control of the equipment did not transfer to the third party and was accounted for as a failed sale-leaseback. Therefore, the Company accounted for the arrangement as a financing transaction and recorded the proceeds received as a financing obligation. The leased assets were included in property and equipment, net on the condensed consolidated balance sheets and were subject to depreciation. In March 2023, Angion terminated its sale and leaseback arrangement and exercised its repurchase option to buy back the previously leased assets for $0.2 million. Litigation From time to time, the Company may be involved in legal proceedings, as well as demands, claims and threatened litigation, which arise in the normal course of its business or otherwise. Following announcement of the Merger Agreement with Elicio on January 17, 2023, and the filing of a Registration Statement on Form S-4 on February 13, 2023, a lawsuit was filed in the United States District Court for the Eastern District of New York on February 17, 2023 by a purported stockholder of Angion in connection with the proposed merger between Angion and Elicio. The lawsuit was captioned Klein v. Angion Biomedica Corp., et al., No. 1:23-cv-01313 (E.D.N.Y.). The Klein complaint named as defendants Angion, and the members of the Angion Board. The Klein complaint alleged claims for violations of Section 14(a) of the Exchange Act and Rule 14a-9 promulgated thereunder against all defendants, and violations of Section 20(a) of the Exchange Act against the members of the Angion Board. The plaintiff contended that registration statement on Form S-4 filed on February 13, 2023 omitted or misrepresented material information regarding the proposed merger between Angion and Elicio, rendering the registration statement false and misleading. The Klein complaint sought injunctive and declaratory relief, as well as damages. On February 21, 2023, the plaintiff filed a notice of voluntary dismissal of the Klein lawsuit. Although the plaintiffs voluntarily dismissed this case, litigation of this type is prevalent in mergers involving public companies, and other potential plaintiffs may file lawsuits challenging the Merger. The outcome of any additional future litigation is uncertain. Such litigation, if not resolved, could prevent or delay completion of the Merger and result in substantial costs to Angion, including any costs associated with the indemnification of directors and officers. One of the conditions to the completion of the Merger is the absence of any lawsuits or order from a governmental entity (whether temporary, preliminary or permanent) that is in effect and restrains, enjoins or otherwise prohibits the consummation of the Merger. Therefore, if a plaintiff were successful in obtaining an injunction prohibiting the consummation of the Merger on the agreed-upon terms, then such injunction may prevent the Merger from being completed, or from being completed within the expected timeframe. The defense or settlement of any lawsuit or claim that remains unresolved at the time the Merger is completed may adversely affect Angion’s business, financial condition, results of operations and cash flows. 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.

Restructuring and Long-Lived As

Restructuring and Long-Lived Asset impairment	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Long-Lived Asset impairment	Restructuring and Long-Lived Asset impairmentThe Company has incurred restructuring and impairment expenses due to the significant cut in the number of employees from its reductions in force announced in January and July 2022 and its suspension of certain of its operations in deference to its 2022 Strategic Realignment which impacted the use of its leased facilities. In 2022, the Company incurred restructuring and impairment expenses in the amount of $9.2 million. Included in restructuring expenses were $6.2 million one-time termination benefit charges incurred in connection with the reductions in force announced in January and July 2022 and noncash impairment charges of $3.0 million in connection with its long-lived assets primarily associated with its leased facility in Uniondale, New York (See Note 10 for additional information). Of the $6.2 million of termination benefit charges incurred, $1.1 million was paid in the three months ended March 31, 2022 and $1.4 million was paid in the three months ended March 31, 2023. The Company expects to pay the remaining $0.2 million by the end of September 2023.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s income tax provision was immaterial and the effective tax rate was 0% in each of the three months ended March 31, 2023 and 2022. 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 such assets would not be realized. In assessing the realization of deferred tax assets, management considers whether it is more likely than not 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 the net deferred tax assets at March 31, 2023 will not be realizable. Accordingly, management has maintained a full valuation allowance against its net deferred tax assets at March 31, 2023. 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, 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 March 31, 2023, there were no accruals for interest and penalties related to uncertain tax positions.

Employee Benefit Plan

Employee Benefit Plan	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plan	Employee Benefit Plan Employee Benefit Plan The Company sponsors a retirement savings plan intended to qualify for favorable tax treatment under Section 401(a) of the Code, and contains a cash or deferred feature 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	3 Months Ended
	Mar. 31, 2023
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 2023 2022 Numerator Net loss $ (4,537) $ (14,240) Denominator: Weighted-average shares used in computing net loss per share, basic and diluted 30,114,113 29,959,251 Net loss per share, basic and diluted $ (0.15) $ (0.48) 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: Three Months Ended 2023 2022 Shares issuable upon exercise of stock options 3,679,686 5,814,847 Shares issuable upon the exercise of warrants 1,148,123 1,148,123 Unvested shares under restricted stock unit grants 15,802 202,650 Total 4,843,611 7,165,620

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions On February 25, 2022, the Company entered into a Separation Agreement with Itzhak D. Goldberg, M.D., who formerly served as Executive Chairman and Chief Scientific Officer and currently serves as a director and Chairman Emeritus on the Company’s board of directors. Pursuant to the terms of the Separation Agreement, Dr. Goldberg will receive severance benefits of approximately $1.2 million. As of March 31, 2023, $1.0 million has been paid and the remaining $0.2 million is expected to be paid by the end of September 2023. Under the 2015 Plan and 2021 Plan, Dr. Goldberg has vested his PSUs and stock options and will have the right to exercise vested stock options, so long as he remains in continuous service with the Company as a director on the board of directors. On March 1, 2022, the Company entered into a Separation Agreement with Elisha Goldberg, former employee and son of Itzhak D. Goldberg, M.D. Pursuant to the terms of the Separation Agreement, as of March 31, 2023, Mr. Goldberg had received severance benefits of approximately $0.5 million. Mr. Goldberg also had the right to exercise vested stock options he received under the 2015 Plan or 2021 Plan for an extended period of 11 months until December 31, 2022. None of the vested stock options were exercised by Mr. Goldberg. 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 Chairman Emeritus owns, approximately 2.4% and 81.3%, respectively, of the membership interests in Ohr. The Chairman Emeritus' son is the manager of Ohr. In addition, the Company’s President and Chief Executive Officer and director, and Mr. Ganzi, and the Company’s Lead Independent Director, each own approximately 1.6% of the membership interests in 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 the Ohr License was made on terms no less favorable to the Company than those the Company could obtain from unaffiliated third parties. On February 5, 2023, the Company and Ohr executed the First Amendment to the Ohr license agreement. Such amendment allows Ohr access to the Company’s CYP26 inhibitors beyond ANG-3522 for the use in of treating conditions of the skin and hair, eliminates the Company’s obligation to prosecute or maintain the patents rights licensed to Ohr at its principal expense, and allows Ohr to prosecute and maintain such patent rights its sole own expense. No revenue from this license agreement was recognized for the periods presented. NovaPark Investment and Lease The Company had a 10% interest in NovaPark. Members of the Company's Chairman Emeritus’ immediate family own a majority of the membership interests of NovaPark. The Company accounted for its aggregate 10% investment in NovaPark under the equity method. In March 2023, Angion entered into a Surrender Agreement with NovaPark which terminated the Agreement of Lease, dated as of June 21, 2011, as amended, of its office and laboratory space in Uniondale, New York for a termination fee of $3.03 million and entered into a Membership Interest Redemption Agreement with NovaPark to relinquish its 10% membership interest in NovaPark, accounted as Investment in Related Parties in the condensed consolidated balance sheets. The net loss resulting from the lease termination and relinquishment of investment in Novapark was immaterial and recognized in research and development expenses in the condensed consolidated statement of operations for the three months ended March 31, 2023. The following table provides the activity for the NovaPark investment for the three months ended March 31, 2023 and 2022 (in thousands): Three Months Ended 2023 2022 Beginning balance $ 724 $ 723 Earnings from equity method investment — 9 Write off of equity method investment (724) — Ending balance $ — $ 732

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
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 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, 2022 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
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, the valuation of its notes receivable, 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 maintains its cash equivalents in securities and money market funds with original maturities less than three months. On March 10, 2023, Silicon Valley Bank (SVB), at which the Company maintained substantially all of its cash and cash equivalents in multiple accounts and in amounts exceeding federally insured limits, was closed by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The failure of SVB exposed the Company to liquidity and credit risk prior to the completion of the FDIC resolution of SVB in a manner that fully protects all depositors. At the end of March 2023, Angion transferred substantially all of its cash and cash equivalents from SVB to an asset manager. If the Company is unable to access its cash and cash equivalents as needed, its financial position and ability to operate its business will be adversely affected. The Company has no financial instruments with off-balance sheet risk of loss.
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 March 31, 2023 and December 31, 2022, 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.
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.
Notes Receivable at Fair Value	Notes Receivable at Fair Value As permitted under ASC 825, Financial Instruments
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. Research and development costs may be offset by research and development refundable tax rebates received by the Company’s wholly-owned Australian subsidiary.
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 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 months ended March 31, 2023 and 2022, basic and diluted net loss per common share are the same.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements 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. The Company adopted ASU No. 2016-13 on January 1, 2023 and the adoption of the standard had no material impact on its condensed consolidated financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present the Company's financial assets and liabilities measured at fair value on a recurring basis and their assigned levels within the fair value hierarchy (in thousands): March 31, 2023 Level 1 Level 2 Level 3 Total Money market funds (1) $ 28,284 $ — $ — $ 28,284 Notes receivable — — 9,678 9,678 Total assets $ 28,284 $ — $ 9,678 $ 37,962 Warrant liabilities $ — $ — $ 9 $ 9 Total liabilities $ — $ — $ 9 $ 9 December 31, 2022 Level 1 Level 2 Level 3 Total Money market funds (1) $ 9,860 $ — $ — $ 9,860 Total assets $ 9,860 $ — $ — $ 9,860 Warrant liabilities $ — $ — $ 19 $ 19 Total liabilities $ — $ — $ 19 $ 19 _________________ (1) Included in cash and cash equivalents on the condensed consolidated balance sheets. This balance includes cash requirements settled on a nightly basis.
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents a summary of changes in Level 3 assets and liabilities measured at fair value (in thousands): Warrants Liability Notes Receivable Balance, beginning of the period $ 19 $ — Issuance of Notes receivable — 10,000 Change in fair value (10) (322) Balance, end of the period $ 9 $ 9,678
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The fair value of the common stock warrant liability was estimated using the following assumptions: March 31, December 31, Weighted average strike price $7.60 $7.60 Contractual term (years) 5.4 5.7 Volatility (annual) 100.0% 112.4% Risk-free rate 3.9% 4.3% Dividend yield (per share) 0.0% 0.0%
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents a summary of changes in Level 3 assets and liabilities measured at fair value (in thousands): Warrants Liability Notes Receivable Balance, beginning of the period $ 19 $ — Issuance of Notes receivable — 10,000 Change in fair value (10) (322) Balance, end of the period $ 9 $ 9,678

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Prepaid and Other Current Assets	Prepaid and other current assets consisted of the following (in thousands): March 31, December 31, Angion Pty tax receivable $ 305 $ 305 Prepaid insurance 967 291 Security deposit 53 101 Other 405 246 Total prepaid and other current assets $ 1,730 $ 943
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): March 31, December 31, Equipment $ — $ 866 Furniture and fixtures — 34 Leasehold improvements — 68 Total property and equipment — 968 Less: accumulated depreciation — (695) Property and equipment, net $ — $ 273
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): March 31, December 31, Accrued compensation $ 130 $ 112 Accrued restructuring (Note 11) 242 1,572 Accrued direct research costs 236 774 Accrued operating expenses 495 111 Total accrued expenses $ 1,103 $ 2,569

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share Option Activity	The following table summarizes information and activity related to the Company’s stock options: Number of Weighted Average Weighted Average Total Outstanding as of December 31, 2022 3,726,247 $ 6.30 7.0 $ — Options forfeited (46,561) 6.54 Outstanding as of March 31, 2023 3,679,686 $ 6.30 6.9 $ — Options vested and exercisable 2,599,189 $ 6.82 6.2 $ —
Schedule of RSU Information and Activity	The following table summarizes information and activity related to the Company’s RSUs: Number of Weighted Outstanding at December 31, 2022 16,046 $ 9.51 Vested and released (244) $ 9.51 Outstanding as of March 31, 2023 15,802 $ 9.51
Schedule of Components of Stock-Based Compensation Expense	The following table summarizes total stock-based compensation expense recorded in the condensed consolidated statements of operations (in thousands): Three Months Ended 2023 2022 Research and development $ 41 $ (448) General and administrative 311 479 Total $ 352 $ 31

Warrants (Tables)

Warrants (Tables)	3 Months Ended
	Mar. 31, 2023
Warrants and Rights Outstanding [Abstract]
Schedule of Outstanding Warrants	As of March 31, 2023 and December 31, 2022, outstanding warrants to purchase the Company's common stock consisted of the following: Classification Exercise Price Expiration Date March 31, December 31, Warrants issued with conversion of Convertible Notes to Common Stock Equity $ 8.03 8/31/23 232,287 232,287 Warrants issued with Units in the Equity Offering Equity $ 8.03 8/31/23 875,034 875,034 Broker Warrants issued with Equity Offering Equity $ 0.01 8/31/25 1,297 1,297 Consultant Warrants Liability $ 7.60 8/31/28 39,505 39,505 Total Warrants 1,148,123 1,148,123

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Components of Rent Expense	The following table summarizes the components of the Company's operating lease costs (in thousands): Three Months Ended 2023 2022 Operating lease cost $ 27 $ 413 Variable lease cost — 52 Short-term lease cost — 6 Total operating lease cost $ 27 $ 471
Schedule of Quantitative Information Regarding NovaPark Operating Leases	The following table summarizes quantitative information about the Company's operating leases (dollars in thousands): Three Months Ended 2023 2022 Operating cash flows from operating leases $ 57 $ 323 Right-of-use assets exchanged for operating lease liabilities $ — $ — Weighted-average remaining lease term—operating leases (in years) 1.2 3.7 Weighted-average discount rate—operating leases 2.1 % 9.4 %
Schedule of Maturities of Lease Liabilities	As of March 31, 2023, maturities of lease liabilities were as follows (in thousands): Year Ended December 31, Amounts 2023 (remaining nine months) $ 173 2024 123 2025 7 Total 303 Less present value discount (6) Operating lease liabilities $ 297

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
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 2023 2022 Numerator Net loss $ (4,537) $ (14,240) Denominator: Weighted-average shares used in computing net loss per share, basic and diluted 30,114,113 29,959,251 Net loss per share, basic and diluted $ (0.15) $ (0.48)
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: Three Months Ended 2023 2022 Shares issuable upon exercise of stock options 3,679,686 5,814,847 Shares issuable upon the exercise of warrants 1,148,123 1,148,123 Unvested shares under restricted stock unit grants 15,802 202,650 Total 4,843,611 7,165,620

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Nova Park Investment Activity	The following table provides the activity for the NovaPark investment for the three months ended March 31, 2023 and 2022 (in thousands): Three Months Ended 2023 2022 Beginning balance $ 724 $ 723 Earnings from equity method investment — 9 Write off of equity method investment (724) — Ending balance $ — $ 732

Description of the Business a_2

Description of the Business and Financial Condition (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 29,219	$ 50,487
Accumulated deficit	$ 258,479	$ 253,942

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	3 Months Ended
	Mar. 31, 2023 operating_segment
Accounting Policies [Abstract]
Number of operating segments	1

Revenue and Deferred Revenue (D

Revenue and Deferred Revenue (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended
	Feb. 09, 2021	Nov. 30, 2020	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Contract revenue			$ 0	$ 1,648
Vifor Pharma | License
Disaggregation of Revenue [Line Items]
Upfront and near-term milestone payment, entitled to receive		$ 80,000
Upfront and equity payments received		60,000
Contract with customer, asset		30,000
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%
Contract revenue				$ 1,600
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) - Fair value measurements, recurring - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets, Fair Value Disclosure [Abstract]
Money market funds	$ 28,284	$ 9,860
Notes receivable	9,678
Total assets	37,962	9,860
Liabilities, Fair Value Disclosure [Abstract]
Warrant liabilities	9	19
Total liabilities	9	19
Level 1
Assets, Fair Value Disclosure [Abstract]
Money market funds	28,284	9,860
Notes receivable	0
Total assets	28,284	9,860
Liabilities, Fair Value Disclosure [Abstract]
Warrant liabilities	0	0
Total liabilities	0	0
Level 2
Assets, Fair Value Disclosure [Abstract]
Money market funds	0	0
Notes receivable	0
Total assets	0	0
Liabilities, Fair Value Disclosure [Abstract]
Warrant liabilities	0	0
Total liabilities	0	0
Level 3
Assets, Fair Value Disclosure [Abstract]
Money market funds	0	0
Notes receivable	9,678
Total assets	9,678	0
Liabilities, Fair Value Disclosure [Abstract]
Warrant liabilities	9	19
Total liabilities	$ 9	$ 19

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value, Liabilities, Measured on Recurring Basis, Unobservable Input Reconciliation (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Warrant Liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of the period	$ 19
Issuance of Notes receivable	0
Change in fair value	(10)
Balance, end of the period	9
Notes Receivable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of the period	0
Issuance of Notes receivable	10,000
Change in fair value	(322)
Balance, end of the period	$ 9,678

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value Measurement Inputs and Valuation Techniques (Details) - Level 3	Mar. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, contractual term	5 years 4 months 24 days	5 years 8 months 12 days
Weighted average strike price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	7.60	7.60
Volatility (annual)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	1	1.124
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.039	0.043
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 Prepaid and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Angion Pty tax receivable	$ 305	$ 305
Prepaid insurance	967	291
Security deposit	53	101
Other	405	246
Total prepaid and other current assets	$ 1,730	$ 943

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment	$ 0		$ 968
Less: accumulated depreciation	0		(695)
Property and equipment, net	0		273
Loss on disposal of property and equipment, net	251	$ 0
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment	0		866
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	0		34
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	$ 0		$ 68

Balance Sheet Components - Sc_3

Balance Sheet Components - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued compensation	$ 130	$ 112
Accrued restructuring (Note 11)	242	1,572
Accrued direct research costs	236	774
Accrued operating expenses	495	111
Total accrued expenses	$ 1,103	$ 2,569

Notes Receivable (Details)

Notes Receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Issuance of notes receivable	$ 10,000	$ 0
Notes receivable	9,678		$ 0
Change in fair value of notes receivable	322	$ 0
Elicio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable	$ 12,500
Percent of original issue discount	20%
Principal amount, tranche one	$ 6,250
Principal amount, net of discount, tranche one	5,000
Principal amount, tranche two	6,250
Principal amount, net of discount, tranche two	$ 5,000
Financing receivable, term	1 year
Interest rate	1%
Issuance of notes receivable	$ 10,000
Loss on initial fair value of note receivable	400
Change in fair value of notes receivable	$ 100

Stockholders' Equity (Details)

Stockholders' Equity (Details)	3 Months Ended
	Mar. 31, 2023 vote
Equity [Abstract]
Number of votes per share of common stock	1

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Share Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Number of Stock Options
Outstanding at beginning of period (in shares)	3,726,247
Options forfeited (in shares)	(46,561)
Outstanding at end of period (in shares)	3,679,686	3,726,247
Options vested and exercisable (in shares)	2,599,189
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 6.30
Options forfeited (in dollars per share)	6.54
Outstanding at end of period (in dollars per share)	6.30	$ 6.30
Options vested and exercisable (in dollars per share)	$ 6.82
Stock Option Activity, Additional Disclosures
Options outstanding, weighted average remaining contractual life (in years)	6 years 10 months 24 days	7 years
Options vested and exercisable, weighted average remaining contractual life (in years)	6 years 2 months 12 days
Options outstanding, total intrinsic value	$ 0	$ 0
Options vested and exercisable, total intrinsic value	$ 0

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended			3 Months Ended
	Feb. 09, 2021	Jul. 31, 2022	Jun. 30, 2021	Jun. 30, 2019	Mar. 31, 2023	Mar. 31, 2022	Jan. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)					0
Weighted average grant date fair value per share for stock option grants (in dollars per share)						$ 1.19
Unrecognized compensation related to unvested stock option awards					$ 1.1
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation related to unvested stock option awards, period for recognition (in years)					2 years 3 months 18 days
Performance-based Restricted Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				556,530
PSUs vested and released (in shares)	185,510	185,510	185,510
PSUs outstanding (in shares)					0
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)							390,000
Shares available for purchase under the ESPP (in shares)					689,583
Shares authorized for issuance (in shares)					0

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of RSU Information and Activity (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Restricted Stock Units
Outstanding at beginning of period (in shares) | shares	16,046
Vested and released (in shares) | shares	(244)
Outstanding at end of period (in shares) | shares	15,802
Weighted Average Grant Date Fair Value Per Share
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 9.51
Vested and released (in dollars per share) | $ / shares	9.51
Outstanding at end of period (in dollars per share) | $ / shares	$ 9.51

Stock-Based Compensation - Comp

Stock-Based Compensation - Components of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 352	$ 31
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	41	(448)
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 311	$ 479

Warrants - Outstanding Warrants

Warrants - Outstanding Warrants (Details) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	1,148,123	1,148,123
Warrants issued with conversion of Convertible 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	232,287
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)	875,034	875,034
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	1,297
Consultant Warrants, Liability
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 7.60
Warrants outstanding (in shares)	39,505	39,505

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2021 USD ($) ft² option	Mar. 31, 2023 USD ($) ft²	Nov. 30, 2021
Lessee, Lease, Description [Line Items]
Leaseback term			42 months
Sale leaseback transaction, net book value		$ 200
New Jersey
Lessee, Lease, Description [Line Items]
Area of office space (in sqft) | ft²		2,105
Operating lease, payment per year		$ 100
Lease term		1 year
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
NovaPark
Lessee, Lease, Description [Line Items]
Operating lease liability forgiven		$ 3,860

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Components of Operating Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating leases
Operating lease cost	$ 27	$ 413
Variable lease cost	0	52
Short-term lease cost	0	6
Total operating lease cost	$ 27	$ 471

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Quantitative Information about Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating cash flows from operating leases	$ 57	$ 323
Right-of-use assets exchanged for operating lease liabilities	$ 0	$ 0
Weighted-average remaining lease term—operating leases (in years)	1 year 2 months 12 days	3 years 8 months 12 days
Weighted-average discount rate—operating leases	2.10%	9.40%

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023 (remaining nine months)	$ 173
2024	123
2025	7
Total	303
Less present value discount	(6)
Operating lease liabilities	$ 297

Restructuring and Long-Lived _2

Restructuring and Long-Lived Asset impairment (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring expenses			$ 9.2
Severance costs			6.2
Impairment of leased assets			$ 3
Payments for restructuring	$ 1.4	$ 1.1
Expected restructuring cost remaining	$ 0.2

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	0%	0%
Penalties and interest accrued	$ 0

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - Employee Benefit Plan	3 Months Ended
	Mar. 31, 2023
Defined Contribution Plan Disclosure [Line Items]
Employers matching contribution annual vesting (in percentage)	100%
Employer matching contribution, percent of employees' gross pay, 100% employer match	3%
Minimum
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percent of employees' gross pay, 50% employer match	4%
Maximum
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percent of employees' gross pay, 50% employer match	5%

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
	Mar. 31, 2023	Mar. 31, 2022
Numerator
Net loss	$ (4,537)	$ (14,240)
Denominator:
Weighted-average shares used in computing net loss per share, basic (in shares)	30,114,113	29,959,251
Weighted-average shares used in computing net loss per share, diluted (in shares)	30,114,113	29,959,251
Net loss per share, basic (in dollars per share)	$ (0.15)	$ (0.48)
Net loss per share, diluted (in dollars per share)	$ (0.15)	$ (0.48)

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Antidilutive Securities Excluded From Computation of Net Loss per Share (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	4,843,611	7,165,620
Shares issuable upon exercise of stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	3,679,686	5,814,847
Shares issuable upon the exercise of warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,148,123	1,148,123
Unvested shares under restricted stock unit grants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	15,802	202,650

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)		1 Months Ended	3 Months Ended		6 Months Ended	13 Months Ended
	Mar. 01, 2022	Nov. 30, 2013	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2023	Mar. 31, 2023	Feb. 25, 2022	Jul. 31, 2017
Related Party Transaction [Line Items]
Operating lease cost			$ 27,000	$ 413,000
Variable lease cost			$ 0	52,000
Ohr Cosmetics, LLC
Related Party Transaction [Line Items]
Potential maximum milestone payment		$ 9,000,000
Royalties and milestone payments, period		15 years
Ohr Cosmetics, LLC | Chief Executive Officer
Related Party Transaction [Line Items]
Family of the Executive Chairman investment, ownership percentage			1.60%
Ohr Cosmetics, LLC | Board of Directors Chairman
Related Party Transaction [Line Items]
Family of the Executive Chairman investment, ownership percentage			1.60%
Ohr Cosmetics, LLC | Immediate Family of Executive Chairman
Related Party Transaction [Line Items]
Family of the Executive Chairman investment, ownership percentage			81.30%
Ohr Cosmetics, LLC
Related Party Transaction [Line Items]
Investment, ownership percentage			2.40%			2.40%
NovaPark
Related Party Transaction [Line Items]
Equity method investment, ownership percentage			10%			10%
Termination fee			$ 3,030,000			$ 3,030,000
2021 Incentive Award Plan
Related Party Transaction [Line Items]
Plan modification, extended exercise period	11 months
Management
Related Party Transaction [Line Items]
Severance benefits							$ 1,200,000
Payments for postemployment benefits						1,000,000
Management | Forecast
Related Party Transaction [Line Items]
Payments for postemployment benefits					$ 200,000
Immediate Family Member of Management or Principal Owner
Related Party Transaction [Line Items]
Severance benefits			500,000			$ 500,000
Affiliated Entity | Ohr Cosmetics, LLC | License
Related Party Transaction [Line Items]
Revenue from license agreement			0	0
Affiliated Entity | Ohr Cosmetics, LLC
Related Party Transaction [Line Items]
Investment, at cost								$ 150,000
Equity Method Investee | NovaPark
Related Party Transaction [Line Items]
Operating lease cost			0	300,000
Variable lease cost			$ 0	$ 100,000
Equity Method Investee | NovaPark
Related Party Transaction [Line Items]
Equity method investment, ownership percentage			10%			10%

Related Party Transactions - No

Related Party Transactions - Nova Park Investment Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity Method Investments [Roll Forward]
Earnings from equity method investment	$ 0	$ 9
NovaPark | Equity Method Investee
Equity Method Investments [Roll Forward]
Beginning balance	724	723
Earnings from equity method investment	0	9
Write off of equity method investment	(724)	0
Ending balance	$ 0	$ 732