Term Loans (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Summary of Assumptions Used to Estimate Fair Value of Warrants

The Company determined the fair value of the Warrants as of February 4, 2022 using the Black-Scholes option pricing model and applying the following assumptions:

Fair value of common stock	$	5.15
Expected term (in years)		7.0
Risk-free interest rate		1.9	%
Dividend yield		—
Volatility		92.6	%

The weighted-average grant date fair value of the options granted during the six months ended June 30, 2022 and 2021 was $1.25 and $7.52 per share, respectively, as calculated using the Black-Scholes option-pricing model with the following assumptions on a weighted-average basis:

	Six Months Ended June 30,
	2022			2021
Fair value of common stock	$	1.85		$	17.00
Expected term (in years)		5.5			6.0
Risk-free interest rate		3.0	%		0.6	%
Dividend yield		—			—
Volatility		79.5	%		46.9	%

Schedule of Balance Sheet Information Related to Term Loans

Balance sheet information related to the Term Loans is as follows:

	June 30, 2022
Tranche 1 of Term Loans (1)	$	31,575
Less: Unamortized debt discount and issuance costs		(2,362	)
Carrying value of Term Loans, non-current	$	29,213

(1) Balance includes $1.6 million final end of term fee, which represents 5.25% of the principal loan advance.

Schedule of Interest Expense, Net of Amounts Capitalized

Interest expense, net of amounts capitalized is as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2022			2021		2022			2021
Contractual coupon	$	716		$	—	$	1,127		$	—
Amortization of debt discount and issuance costs		191			—		308			—
Total interest expense on the Term Loan		907			—		1,435			—
Other interest expense		28			—		37			—
Capitalized interest		(109	)		—		(109	)		—
Interest expense, net	$	826		$	—	$	1,363		$	—

Schedule of Annual Principal Payments

The Annual principal payments on the Term Loans are as follows:

Year ending December 31,
2022	$	—
2023		—
2024		7,059
2025		21,176
2026		3,340
Total principal payments	$	31,575