Debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Debt

7.Debt

The Company entered into a loan and security agreement (“2018 Credit Facility”) with Pacific Western Bank, Inc. (“PWB”), and received $15.0 million debt proceeds in 2018. The Company made interest-only payments through March 31, 2020. Beginning in April 2020, the Company was obligated to make monthly principal payments of $625,000 (plus interest) through March 31, 2022 when the note matures. The Company paid the total outstanding balance of the loan of $9.4 million during the year ended December 31, 2021 and terminated the 2018 Credit Facility.

The Company recognized interest expense of $0.4 million and $0.9 million during the years ended December 31, 2021 and 2020, respectively.