Term Loans (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Future Principal Debt Payments on Term Loan Agreement

Future principal debt payments on the Trinity Term Loan Agreement as of September 30, 2024 are as follows (in thousands):

Year Ending December 31,
2024	$	—
2025		—
2026		—
2027		18,709
2028		21,291
Total principal payments	$	40,000

Schedule of Reconcile of Change in Fair Value of Debt

The following table reconciles the change in fair value of the Trinity Term Loans during the nine months ended September 30, 2024 (in thousands):

Trinity Term Loans
Beginning fair value balance at January 1, 2024	$	40,508
Principal payments		—
Change in fair value reported in statements of operations		135
Change in fair value reported in comprehensive loss		2,328
Ending fair value balance as of September 30, 2024	$	42,971

The following table reconciles the change in fair value of the Trinity Term Loans during the three months ended September 30, 2024 (in thousands):

Trinity Term Loans
Beginning fair value balance at July 1, 2024	$	37,835
Principal payments		—
Change in fair value reported in statements of operations		403
Change in fair value reported in comprehensive loss		4,733
Ending fair value balance as of September 30, 2024	$	42,971

The following table reconciles the change in fair value of the Success Fee liability during the nine months ended September 30, 2024 (in thousands):

Success Fee
Beginning fair value balance at January 1, 2024	$	800
Change in fair value of Success Fee		82
Ending fair value balance as of September 30, 2024	$	882

The following table reconciles the change in fair value of the Success Fee liability during the three months ended September 30, 2024 (in thousands):

Success Fee
Beginning fair value balance at July 1, 2024	$	800
Change in fair value of Success Fee		82
Ending fair value balance as of September 30, 2024	$	882