v3.26.1
Term Loan (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
The outstanding term loans payable consists of the following:
December 31,
20252024
(in thousands)
Note payable$30,000 $30,000 
Unamortized debt discount and issuance costs(1,764)(3,905)
Net carrying amount of note payable28,236 26,095 
Less: current portion of note payable(28,236)— 
Note payable, net, less current portion$— $26,095 
The following table provides the components of interest expense related to the K2HV Loan Agreement:
Year Ended December 31,
20252024
(in thousands)
Interest expense based on coupon interest rate (10.3%) of outstanding term loans
$3,133 $2,094 
Amortization of debt discount and accretion of Final Fee (8.94%)
2,141 1,217 
Total interest expense on effective rate (19.24%)
$5,274 $3,311 
Schedule of Principal Payments and Final Fee
The following table presents the total principal payments and Final Fee contractually scheduled to become due during each of the years ended December 31 (in thousands):
2026$9,600 
202714,400 
20288,085 
Total principal payments and Final Fee$32,085