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Long-Term Debt (Tables)
9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Summary of Long Term Debt
Long-term debt consisted of the following:
(in thousands)September 30,
2024
December 31,
2023
Principal amount of long-term debt$75,000 $55,000 
Debt discount, net of accretion(706)(917)
Cumulative accretion of end of term payments930 487 
Long-term debt$75,224 $54,570 
Interest Income and Interest Expense Disclosure
The Company recognized interest expense under the Hercules Loan Agreement as follows:
(in thousands)Three Months Ended September 30,
Nine Months Ended September 30,
2024202320242023
Total interest expense$2,414 $1,397 $6,463 $3,210 
Non-cash interest expense$194 $237 $655 $681 
Schedule of Future Principal Payments and the Final Payments Due
As of September 30, 2024, future principal and accrued end-of-term payments of $75.9 million under the Hercules Loan Agreement are due on July 1, 2027.
(in thousands),
Year Ending December 31,Total
2024$— 
2025— 
2026— 
202775,930 
Long-term debt$75,930