Equipment loan payables

3 Months Ended

Mar. 31, 2021

Equipment loan payables

Equipment loan payables

6. Equipment loan payables

The Company entered into various equipment financing agreements (the Agreements) to purchase laboratory equipment. The Agreements provide for 36 to 38 monthly payments ranging from $1,000 to $8,000. Interest rates for the Agreements range from 9.03% to 12.08%. Interest expense related to the equipment financing agreements was $2,000 and $8,000 for the three months ended March 31, 2021 and 2020, respectively.

Future payments for the Agreements are as follows as of March 31, 2021 (in thousands):

Year ending December 31,	Amount
2021 (represents remaining nine months in 2021)	$	80
Total		80
Less amounts representing interest		(2)
Total equipment loan payable	$	78