Term Loans (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Future Principal Debt Payments on Trinity Term Loan Agreement

Future principal debt payments on the Trinity Term Loan Agreement as of December 31, 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 years ended December 31, 2024 and 2023 (in thousands):

Trinity Term Loans
Beginning fair value balance at November 13, 2023	$	39,230
Principal payments		—
Change in fair value reported in statements of operations		1,278
Change in fair value reported in comprehensive loss		—
Ending fair value balance as of December 31, 2023	$	40,508
Principal payments		—
Change in fair value reported in statements of operations		(597	)
Change in fair value reported in comprehensive loss		4,031
Ending fair value balance as of December 31, 2024	$	43,942

The following table reconciles the change in fair value of the Success Fee liability during the years ended December 31, 2024 and 2023 (in thousands):

Success Fee
Beginning fair value balance at November 13, 2023	$	770
Change in fair value of Success Fee		30
Ending fair value balance as of December 31, 2023	$	800
Change in fair value of Success Fee		130
Ending fair value balance as of December 31, 2024	$	930