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Loan and Security Agreement (Tables)
12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt and Unamortized Debt Discount Balances

Long-term debt and unamortized debt discount balances are as follows:

 

 

December 31,
2023

 

 

December 31,
2022

 

Total outstanding debt

 

$

180,000

 

 

$

95,000

 

Add: accreted final payment fee

 

 

2,610

 

 

 

1,363

 

Less: unamortized debt discount, long-term

 

 

(4,540

)

 

 

(2,104

)

Less: current portion of long-term debt

 

 

 

 

 

 

Loan payable, long-term

 

$

178,070

 

 

$

94,259

 

Schedule of debt approximates its fair value given its variable interest rate

The book value of debt approximates its fair value given its variable interest rate.

 

 

 

Year ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Interest expense

 

$

17,514

 

 

$

8,176

 

 

$

4,617

 

Amortization of final payment fee

 

 

1,197

 

 

 

668

 

 

 

554

 

Amortization of debt discount related issuance costs and warrants

 

 

1,324

 

 

 

815

 

 

 

523

 

Schedule of Principal Payments

Scheduled principal payments on outstanding debt, as of December 31, 2023, are as follows:

 

2024

 

$

 

2025

 

 

 

2026

 

 

 

2027

 

 

 

2028

 

 

180,000

 

Thereafter

 

 

 

Total principal payments outstanding

 

$

180,000