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Debt (Tables)
3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Outstanding Borrowings under SVB Term Loan As of March 31, 2022 and December 31, 2021, the Company had outstanding borrowings of $13.4 million and $14.0 million, respectively, under the SVB Term Loan and the term loan payable balance as presented on the Company’s Condensed Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 was comprised as shown below. 

 

 

 

March 31, 2022

 

 

December 31, 2021

 

Principal outstanding under term loan

 

$

13,417

 

 

$

14,000

 

Term loan discount-interest

 

 

(66

)

 

 

(84

)

Term loan discount-unamortized deferred charges

 

 

(59

)

 

 

(76

)

Term loan discount-financing costs, net of accretion

 

 

(10

)

 

 

(12

)

Term loan-final payment fee

 

 

774

 

 

 

657

 

 

 

 

14,056

 

 

 

14,485

 

Less current portion

 

 

7,000

 

 

 

5,833

 

Term loan payable, non-current

 

$

7,056

 

 

$

8,652

 

 

 

Schedule of Components of Interest Expense of Term Loan

Interest expense on the SVB Term Loan, which is comprised of interest payments, accretion and amortization of term loan discounts and the accrual of the final payment fee, is shown below for the three months ended March 31, 2022 and 2021, respectively. For the three months ended March 31, 2022 and 2021, the interest rate applicable to borrowings under the SVB Term Loan was 4.25%.

 

 

Three Months Ended

March 31,

 

 

 

2022

 

 

2021

 

Interest payments

 

$

148

 

 

$

149

 

Accrual of the final payment fee

 

 

117

 

 

 

118

 

Accretion and amortization of term loan discounts

 

 

37

 

 

 

27

 

 

 

$

302

 

 

$

294