Debt (Tables)

6 Months Ended

Jun. 30, 2026

Outstanding debt consisted of the following (in thousands):


	June 30, 2026
Term Loan Facility principal	$	50,000
Add: Compound Derivative measured at fair value	11,940
Add: accreted final payment fee	81
Less: unamortized Compound Derivative discount	(7,232)
Less: unamortized debt issuance costs	(1,371)
Less: unamortized original issue discount	(567)
Long-term debt, net	$	52,851

Schedule of Debt Interest Expense

The following table provides the components of interest expense (in thousands):


	Three and Six Months Ended June 30, 2026
Contractual interest	$	497
Amortization of Compound Derivative discount	173
Amortization of debt issuance costs	33
Amortization of original issue discount	14
Accretion of final payment fee	81
Amortization of deferred debt issuance costs	38
Amortization of deferred original issue discount	16
Total interest expense	$	852

Schedule of Future Minimum Payments on the Term Loans

Future principal payments, excluding contractual interest but including the final payment fee of approximately $3.5 million, in connection with the Loan Agreement as of June 30, 2026 are as follows (in thousands):


	June 30, 2026
2026 (remainder)	$	—
2027	—
2028	—
2029	28,586
2030	24,889
Total principal payments including final payment fee	$	53,475