Debt (Tables)

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Schedule of Future Principal Payments

As of June 30, 2026, future payments of principal and interest of the Avenue Loans are as follows (in thousands):


Year ending December 31,
2026 (remaining 6 months)		$	939
2027			7,020
2028			6,778
2029			5,207
Total		$	19,944
Less: interest			(3,344	)
Debt, gross		$	16,600
Less: unamortized debt discount and costs			(9,509	)
Less: debt, current portion			(2,500	)
Debt, net of current portion		$	4,591

Schedule of Warrants Measured Using Monte Carlo Method

The Avenue Warrant and Avenue Conversion Option was measured using the Monte Carlo Method at the grant and issue dates and the Avenue Warrant was measured using the Black Scholes Method at June 30, 2026 with the following inputs as of the periods noted:


		Avenue Warrant								Avenue Conversion Option
		Grant Date				Quarter End				Grant Date				Issue Date
		1/7/2026				6/30/2026				1/7/2026				3/9/2026
Warrant exercise price / Conversion price max		$	89.21			$	50.00			$	4,000,000			$	4,000,000
Expected term (in years)			5.1				4.8				3.5				3.3
Expected stock price volatility			178.8	%			184.6	%			178.8	%			179.3	%
Risk-free interest rate			3.7	%			4.2	%			3.7	%			3.7	%
Expected dividend rate			0.0	%			0.0	%			0.0	%			0.0	%

Schedule of Aggregate Fair Value of Warrant and Conversion Option Liability

The following table provides a roll forward of the aggregate fair value of the Company’s warrant and conversion option liability (in thousands):


		Avenue Warrant				Avenue Conversion Option				Total
Fair value as of December 31, 2025		$	—			$	—			$	—
Grant date fair value			3,819				3,747				7,566
Change in fair value			(496	)			(28	)			(524	)
Reclass to additional paid-in capital			—				(3,719	)			(3,719	)
Fair value as of June 30, 2026		$	3,323			$	—			$	3,323