v3.25.2
Long-Term Debt (Tables)
6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Summary of Long Term Debt
Long-term debt consisted of the following:
(in thousands)June 30,
2025
December 31,
2024
Principal amount of long-term debt$75,000 $75,000 
Debt discount, net of accretion(536)(650)
Cumulative accrual of end of term payments1,377 1,075 
Long-term debt$75,841 $75,425 
Interest Income and Interest Expense Disclosure
The Company recognized interest expense under the Hercules Loan Agreement as follows:
(in thousands)Three Months Ended June 30,
Six Months Ended June 30,
2025202420252024
Total interest expense$2,232 $2,176 $4,433 $4,050 
Non-cash interest expense$212 $207 $416 $461 
Schedule of Future Principal Payments and the Final Payments Due
As of June 30, 2025, future principal and accrued end-of-term payments of $76.4 million under the Hercules Loan Agreement are due on July 1, 2027.
(in thousands),
Year Ending December 31,Total
2025— 
2026— 
202776,377 
Long-term debt, including end-of-term payments$76,377