v3.26.1
Debt (Tables)
6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Summary of Outstanding Debt

Outstanding debt consisted of the following:

 

 

June 30, 2026

 

 

 

(in thousands)

 

Gross proceeds

 

$

60,000

 

Conversion of term loan principal to common stock

 

 

(6,000

)

Unamortized debt issuance costs

 

 

(1,972

)

Accreted final payment fee

 

 

884

 

Total debt, long-term

 

$

52,912

 

 

Summary of Components of Interest Expense

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

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Cash interest expense

 

 

1,426

 

 

 

307

 

 

 

2,862

 

 

 

307

 

Accretion of final payment fee

 

 

261

 

 

 

43

 

 

 

548

 

 

 

43

 

Amortization of debt issuance costs

 

 

133

 

 

 

19

 

 

 

264

 

 

 

19

 

Amortization of deferred debt issuance costs

 

 

 

 

 

67

 

 

 

 

 

 

67

 

Total interest expense related to debt

 

$

1,820

 

 

$

436

 

 

$

3,674

 

 

$

436

 

Summary of Future Principal Payments

Future principal payments, which include the final payment fee of $4.2 million, in connection with the Loan Agreement as of June 30, 2026 are as follows:

 

 

 

June 30, 2026

 

 

 

(in thousands)

 

Year ended December 31, 2026

 

$

 

Year ended December 31, 2027

 

 

 

Year ended December 31, 2028

 

 

 

Year ended December 31, 2029

 

 

58,170

 

Total principal payments including final fee

 

$

58,170