Debt |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Debt Disclosure [Abstract] | |
| Debt | 8. Debt
Insurance Premium Finance Arrangements
In March 2025, in connection with securing Director and Officer professional liability insurance, the Company entered into a premium finance arrangement to extend the premium payment out for a period of 10 months. The Company paid a total of $26,000 up front toward the insurance premium and financed approximately $145,000. The Company made 10 equal payments under the terms of the premium finance agreement. The premium finance agreement bore interest at an annual percentage rate of 7.45%. The loan was paid in full and there was no outstanding balance as of June 30, 2026.
In May 2025, in connection with securing general liability insurance, the Company entered into a premium finance arrangement to extend the premium payment for a period of 5 months. The Company paid a total of $14,000 up front toward the insurance premium and financed approximately $21,000. The Company made 3 equal payments under the terms of the premium finance agreement. The premium finance agreement bore interest at an annual percentage rate of 11.15%. The loan was paid in full and there was no outstanding balance as of June 30, 2026.
In March 2026, in connection with securing Director and Officer professional liability insurance, the Company entered into a premium finance arrangement to extend the premium payment for a period of 10 months. The Company paid a total of $40,000 up front toward the insurance premium and financed approximately $118,000. The Company will make 10 equal payments under the terms of the premium finance agreement. The premium finance agreement bears interest at an annual percentage rate of 9.39%. The outstanding balance totaled $71,000 as of June 30, 2026.
In May 2026, in connection with securing general liability insurance, the Company entered into a premium finance arrangement to extend the premium payment out for a period of 10 months. The Company paid a total of $14,000 up front toward the insurance premium and financed approximately $38,000. The Company will make 10 equal payments under the terms of the premium finance agreement. The premium finance agreement bears interest at an annual percentage rate of 6.30%. The outstanding balance totaled $31,000 as of June 30, 2026.
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