Revenue |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Revenue from Contract with Customer [Abstract] | |
| Revenue | Revenue During 2025, the Company entered into a collaboration agreement with Eleison, for contract services. The collaboration agreement, which was entered into in February 2025 and designed to enhance clinical trial efficacy, extract actionable insights from historical and ongoing data and improve strategic planning for Eleison’s oncology pipeline, was deemed to have multiple deliverables with revenue to be recognized at the time each deliverable was completed. In exchange for the services provided, the Company was entitled to consideration in the form of cash or equity securities of the customer or any combination at the customer’s sole discretion. The Company received the initial payment in the second quarter of 2025, representing 50% of the total consideration, in the form of equity securities (see Note 3) of the customer valued at $58,335. The remaining consideration, also valued at $58,335, was received in the form of equity securities of the customer following completion of the final deliverable in the third quarter of 2025. The Company allocated the total proceeds to each of the separate deliverables on a relative basis based on the estimated stand-alone selling price of each deliverable. All deliverables were completed in the year ended December 31, 2025 and, consequently, the Company recognized $116,670 of revenue at the point in time that each deliverable was completed. In June 2025, the Company entered into a strategic collaboration with Sygnature Discovery (“Sygnature”), a UK-based contract research organization specializing in drug discovery. Under this collaboration, Sygnature will introduce BullFrog Data Networks™, the Company’s proprietary AI-driven data insights platform powered by the bfLEAP™ engine, to Sygnature’s global biopharma client base. Any commercial terms for the marketing collaboration will be agreed by the parties in a subsequent agreement. The Company has not yet recognized any revenue under this collaboration. In March 2026, the Company entered into a feasibility agreement with a global pharmaceutical company (the “Client”). Pursuant to the agreement, the Company will apply its proprietary methodology and AI/ML learning tool, bfLEAP®, to discover and provide the Client with prioritized drug target candidates, associated causal gene networks with target near-neighbors unblinded, and target dossiers for advancement-ready drug candidates for major depressive disorder (MDD). The agreement will remain in full force and effect for one year from its execution. The agreement provides for the Company to complete certain performance milestones and the Client has the option to receive the exclusive right to use a selected “final target” drug candidate for its research and development purposes. The Company determined that each deliverable constitutes a distinct performance obligation under ASC 606, with revenue recognized at the point in time the relevant deliverable is satisfied and allocated the total proceeds to each of the separate deliverables on a relative basis based on the estimated stand-alone selling price of each deliverable. During the three and six months ended June 30, 2026, the Company completed the first deliverable and recognized $215,385 of collaboration revenue. As of June 30, 2026, the earned but unpaid milestone payment has been recorded as accrued revenue on the condensed consolidated balance sheets.
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