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Loan and Security Agreement (Tables)
6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Interest Expense and Amortization of Final Payment Fee, Amortization of Debt Discount Related to Issuance Costs and Warrants

Interest expense, amortization of the final payment fee, amortization of the debt discount related to the issuance costs and warrants for the Company’s debt are as follows:

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Interest expense

 

$

4,869

 

 

$

4,067

 

 

$

9,738

 

 

$

7,702

 

Amortization of final payment fee

 

 

360

 

 

 

272

 

 

 

709

 

 

 

522

 

Amortization of debt discount related issuance costs and warrants

 

 

281

 

 

 

637

 

 

 

551

 

 

 

971

 

 

Schedule of Outstanding Debt and Unamortized Debt Discount Balances

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

 

June 30,
2024

 

 

December 31,
2023

 

Total outstanding debt

 

$

180,000

 

 

$

180,000

 

Add: accreted final payment fee

 

 

3,318

 

 

 

2,610

 

Less: unamortized debt discount, long-term

 

 

(3,988

)

 

 

(4,540

)

Less: current portion of long-term debt

 

 

 

 

 

 

Loan payable, long-term

 

$

179,330

 

 

$

178,070

 

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

Schedule of Principal Payments

Scheduled principal payments on outstanding debt, as of June 30, 2024, are as follows:

2024

 

$

 

2025

 

 

 

2026

 

 

 

2027

 

 

 

2028

 

 

180,000

 

Thereafter

 

 

 

Total principal payments outstanding

 

$

180,000