Elicio Therapeutics, Inc.ELTX

Elicio Therapeutics, Inc. Leases Disclosure

10-KFiled Mar 12, 20262 min read
Leases
Operating Leases
The Company has an operating lease for office and laboratory space in Boston, Massachusetts (the “Boston Lease”). The Boston Lease commenced in February 2022 with the term set to expire in February 2030. The Boston Lease has rent payments escalating annually, which total $11.1 million in the aggregate. As a result, at the commencement of the Boston Lease, the Company recognized a ROU lease asset of $8.0 million with a corresponding lease liability of $8.0 million based on the present value of the minimum rental payments. In addition, the Company will make payments for operating expenses and real estate taxes. In June 2023, the Company secured a letter of credit for the $0.7 million deposit on the Boston Lease, which was reported as restricted cash, noncurrent on the consolidated balance sheets as of December 31, 2025 and 2024.
The Company also assumed a lease for clinical and regulatory space in Newton, Massachusetts, comprising approximately 6,157 square feet for approximately $0.2 million per year, under a non-cancelable operating lease that expired on June 30, 2024.
Lease expense for all leases for the years ended December 31, 2025 and 2024 was $1.4 million and $1.5 million, respectively.
The following table summarizes quantitative information about the Company's operating leases (dollars in thousands):
For the year ended December 31,
20252024
Operating cash outflows from operating leases
$1,350 $1,427 
Weighted-average remaining lease term—operating leases (in years)4.15.1
Weighted-average discount rate—operating leases8.0 %8.0 %
As of December 31, 2025, maturities of lease liabilities were as follows (in thousands):
Year Ended December 31, Amounts
2026$1,383 
20271,425 
20281,467 
20291,512 
2030253 
Total6,040 
Less present value discount(935)
Operating lease liabilities5,105 
Less: operating lease liability, current portion(1,011)
Operating lease liability, noncurrent portion$4,094 

Historical Timeline

Fiscal YearFiled
2025Mar 12, 2026Showing above
2024Mar 31, 2025
2023Mar 29, 2024

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

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