Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

Accrued Liabilities, Current [Abstract]

Summary of Accrued Liabilities

Accrued liabilities were comprised of the following (in thousands):

	As of September 30, 2024		As of December 31, 2023
Payroll-related	$	2,712	$	3,826
Property, plant, and equipment		90		—
Deferred revenue		34		16
Insurance premiums and accrued interest		222		409
Loss contingency accrual		373		300
Other		942		1,028
Total current accrued liabilities	$	4,373	$	5,579

On July 8, 2024, the Company entered into a financing agreement with First Insurance Funding for the financing of the Company’s D&O liability insurance and related policies. Under the terms of the financing agreement, the Company will pay a total of $0.6 million in premiums, taxes and fees, plus interest at an annual percentage rate of 8.49% in seven monthly separate installment payments commencing on July 25, 2024. During the three months ended September 30, 2024, the Company made a down payment on the policy of $0.2 million to the insurer and three monthly installments for an aggregate of $0.2 million to First Insurance Funding. As of September 30, 2024, the Company owed $0.2 million for insurance premiums and accrued interest.