Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 771

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 771
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 grants, clinical development steps through the approval of an NDA and commercialization. As of December 31, 2024 and 2023,
the balance of accrued expense related to this license agreement was $0. The Company assessed whether the license should be capitalized
and determined that the licensed program is in the early stage and therefore may not be recoverable; the Company expensed the license
fee and will expense development costs until commercial viability is likely.

 11. Commitments and Contingencies

While
not assured, management does not believe, based upon information available at this time, that a loss contingency will have a material
adverse effect on the Company’s financial position, results of operations or cash flows. Additionally, the Company does not have
any material commitments.

 12. Subsequent Events 

The
Company evaluates subsequent events and transactions that occur after the balance sheet date up to the date that the consolidated financial
statements are issued. 

Other
than as disclosed in this Note 12 and as may be disclosed elsewhere in the notes to the accompanying consolidated financial statements,
there have been no subsequent events that require adjustment or disclosure in the accompanying consolidated financial statements.

In
February 2025, the Company announced its entry into a collaboration agreement with Eleison Pharmaceuticals Inc. (“Eleison”),
a Phase III oncology company focused on novel chemotherapeutic treatments for rare cancers. Through this collaboration, the Company will
apply its proprietary Bullfrog Data Networks™ solution, powered by the bfLEAP® platform, to analyze clinical data from Eleison’s
ongoing Phase III trial and previous clinical studies of glufosfamide, an investigational treatment for pancreatic cancer. The platform
will evaluate the current trajectory of the trial with respect to safety signals, extract predictive biomarkers for efficacy and safety
performance from prior studies to support future trial design, and provide data-driven insights to optimize Eleison’s planned clinical
trials for inhaled lipid-complexed cisplatin (ILC) and dibromodulcitol (DBD). These insights are expected to streamline trial efficiency
and improve decision-making for Eleison’s broader oncology pipeline.

In
March 2025, the Company anticipates making a severance payment to a former employee for approximately $45,000.

 F-18