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Subsequent Events
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events
14. Subsequent Events
October 2025 Registered Direct Offering
On October 17, 2025, the Company issued and sold an aggregate of 12,864,494 shares of common stock at a price of $5.83 per share to certain institutional and accredited investors in a registered direct offering. The aggregate net proceeds were approximately $70,278, after deducting estimated offering expenses.
Completion of At the Market Program
Subsequent to September 30, 2025, the Company issued and sold the remaining available shares under its ATM Program and terminated the ATM Program.
November 2025 Term Loan Repayment
On November 6, 2025, the Company provided notice under the Credit Agreement that it intends to repay in full all outstanding amounts under the Term Loan Facility on November 12, 2025 for an aggregate amount of $36.7 million in cash. The repayment amount reflects the outstanding principal amount of loans under the Term Loan Facility of $31.8 million, together with accrued and unpaid interest thereon of $0.5 million, and a prepayment premium equal to 14% of such principal amount. Following such repayment, the Company’s obligations under the Term Loan Facility will be terminated.
November 2025 Convertible Note Repurchase
On November 6, 2025, the Company also entered into separate, privately negotiated transactions with certain holders of its Convertible Notes to repurchase approximately 50% of the outstanding Convertible Notes or approximately $45.7 million aggregate principal amount of the Convertibles Notes (the “2025 Repurchase Transaction” or the “Repurchases”), comprising a combination of (i) approximately $39.0 million in cash and (ii) the issuance of 625,000 shares of the Company’s common stock, par value $0.001 per share. The Repurchases are expected to close on or about November 12, 2025, subject to certain closing conditions. Following the closing of the Repurchases, the Company intends to cancel the repurchased Convertible Notes and, after such cancellation of repurchased Convertible Notes, approximately $45.6 million aggregate principal amount of the Convertible Notes will remain outstanding.