Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Summary of Long Term Debt

Long-term debt consisted of the following:

(in thousands)	June 30, 2023		December 31, 2022
Principal amount of long-term debt	$	32,500	$	32,500
Debt discount, net of accretion	(858)		(196)
Cumulative accretion of end of term payments	958		1,315
Long-term debt	$	32,600	$	33,619
Less: current portion	$	(764)	$	(1,315)
Long-term debt, net of current portion	$	31,836	$	32,304

Interest Income and Interest Expense Disclosure

The Company recognized interest expense under the Hercules Loan Agreement as follows:

(in thousands)	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Total interest expense	$	1,148	$	918	$	2,257	$	1,827
Non-cash interest expense	$	219	$	198	$	444	$	397

Schedule of Future Principal Payments and the Final Payments Due

As of June 30, 2023, future principal and accrued end-of-term payments due under the Hercules Loan Agreement were as follows (in thousands):

Year Ending December 31,	Total
2023	$	764
2024	4,742
2025	20,382
2026	7,570
Long-term debt	$	33,458

On August 2, 2023, the Company entered into the Amendment with Hercules as further described in Note 14.

Year Ending December 31,	Total
2023	$	—
2024	—
2025	24,720
2026	30,474
Long-term debt	$	55,194