Term Loan

3 Months Ended

Mar. 31, 2020

In August 2018, the Company entered into a Loan and Security Agreement (Loan Agreement) with Silicon Valley Bank (SVB). Contemporaneously with executing the Loan Agreement, the Company drew down

$5.0

million. On December 18, 2019, the Company repaid the

$5.0

million term loan and paid the associated prepayment and final payment fees. In connection with the Loan Agreement, the Company issued a warrant to SVB to

purchase 1,839

of the Company’s common stock at a price per share

of $74.80.

The warrant was immediately exercisable, will expire

on August 21, 2028,

contains a cashless exercise provision and is classified as equity.

During the three months ended March 31, 2019, the Company recognized interest expense

of $

0.1

million. No interest expense was recognized for the three months ended March 31, 2020.