Debt (Tables)

3 Months Ended

Mar. 31, 2026

Debt as of March 31, 2026 and December 31, 2025 (in thousands):


	March 31, 2026		December 31, 2025
Loan and Security Agreement (“LSA”):
Principal amount	$	110,000	$	110,000
End of term charge	5,500		5,500
Unamortized debt issuance costs and unamortized end of term charge	(5,060)		$	(5,405)
Loan and Security Agreement (carried at amortized cost)	$	110,440	$	110,095
The fair value of LSA, classified as Level 2 under ASC Topic 820, Fair Value Measurement	$	114,318	$	108,515

Future principal payments, including the end of term charge, are as follows (in thousands):


Year ending:	Payments
2026	—
2027	—
2028	115,500
Total principal payments, including End of Term Charge	$	115,500