Funding Arrangements	9 Months Ended
Sep. 30, 2023
Funding Arrangements [Abstract]
Funding Arrangements	Note 4. Funding Arrangements NIAID Contract In September 2022, the Company received a cost-reimbursement contract award from the NIAID (“NIAID Agreement”) to support preclinical, Phase 1 studies and other activities to enable the advancement of epetraborole into late-stage development for acute systemic melioidosis and other biothreat pathogens. The Company can receive up to $17.8 million in funding over a total term of up to 48 months, consisting of a base period and seven option periods. In July 2023, the NIAID exercised one of seven available options under the NIAID contract (No: 75N93022C00059), resulting in an increase in committed contract funding of $0.7 million, for a total of $5.0 million. Funding for this option extends the estimated completion of the contract by 13 months beyond the base period of 18 months (April 2025). The Company has not recognized any income related to the reimbursement of operating expenses under this agreement during the three and nine months ended September 30, 2023. UGARF Grant In September 2022, the Company entered into a subcontract agreement with the UGARF to conduct preclinical activities on behalf of UGARF (“UGARF Agreement”). UGARF reimburses the Company under an award from The Wellcome Trust. The Company is eligible to receive up to $1.4 million from UGARF to support preclinical development of a boron-containing small molecule for Chagas disease. As of September 30, 2023, the Company had recorded a grant receivable of $0.4 million which was included in prepaid expenses and other current assets on the balance sheets. During the three and nine months ended September 30, 2023, the Company recorded income of $0.4 million and $0.7 million, respectively, as reductions in research and development operating expenses under the UGARF agreement. BMFG Grant In September 2023, the Company received a cost-reimbursement contract award from the Bill and Melinda Gates Foundation (“BMGF Agreement”) under which the Company was awarded $1.8 million to support the discovery of novel, boron containing small molecules for the treatment of tuberculosis and malaria. The Company is required to apply the funds it receives under the BMGF Agreement solely toward direct costs related to this research program. The Company received $1.0 million of funding in advance and tracks and reports eligible expenses incurred to the BMGF. Any unspent funds and any funds spent that have not yet been incurred are recorded as part of other current liabilities on the balance sheets. As of September 30, 2023, the Company had recorded $1.0 million to other current liabilities. During the three and nine months ended September 30, 2023, the Company recorded income of $24 thousand as a reduction in research and development operating expenses under the BMGF agreement.

Funding Arrangements

9 Months Ended

Sep. 30, 2023

Note 4. Funding Arrangements

NIAID Contract

In September 2022, the Company received a cost-reimbursement contract award from the NIAID (“NIAID Agreement”) to support preclinical, Phase 1 studies and other activities to enable the advancement of epetraborole into late-stage development for acute systemic melioidosis and other biothreat pathogens. The Company can receive up to $17.8 million in funding over a total term of up to 48 months, consisting of a base period and seven option periods. In July 2023, the NIAID exercised one of seven available options under the NIAID contract (No: 75N93022C00059), resulting in an increase in committed contract funding of $0.7 million, for a total of $5.0 million. Funding for this option extends the estimated completion of the contract by 13 months beyond the base period of 18 months (April 2025). The Company has not recognized any income related to the reimbursement of operating expenses under this agreement during the three and nine months ended September 30, 2023.

UGARF Grant

In September 2022, the Company entered into a subcontract agreement with the UGARF to conduct preclinical activities on behalf of UGARF (“UGARF Agreement”). UGARF reimburses the Company under an award from The Wellcome Trust. The Company is eligible to receive up to $1.4 million from UGARF to support preclinical development of a boron-containing small molecule for Chagas disease. As of September 30, 2023, the Company had recorded a grant receivable of $0.4 million which was included in prepaid expenses and other current assets on the balance sheets. During the three and nine months ended September 30, 2023, the Company recorded income of $0.4 million and $0.7 million, respectively, as reductions in research and development operating expenses under the UGARF agreement.

BMFG Grant

In September 2023, the Company received a cost-reimbursement contract award from the Bill and Melinda Gates Foundation (“BMGF Agreement”) under which the Company was awarded $1.8 million to support the discovery of novel, boron containing small molecules for the treatment of tuberculosis and malaria. The Company is required to apply the funds it receives under the BMGF Agreement solely toward direct costs related to this research program. The Company received $1.0 million of funding in advance and tracks and reports eligible expenses incurred to the BMGF. Any unspent funds and any funds spent that have not yet been incurred are recorded as part of other current liabilities on the balance sheets. As of September 30, 2023, the Company had recorded $1.0 million to other current liabilities. During the three and nine months ended September 30, 2023, the Company recorded income of $24 thousand as a reduction in research and development operating expenses under the BMGF agreement.