DEBT (Tables)

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

As of September 30, 2025, the Company’s outstanding debt balance under the 2025 Loan Agreement consisted of the following (in thousands):

	AS OF
	SEPTEMBER 30, 2025
Term loan	$	109,000
Less: debt discount	(9,083)
Long-term debt, including debt discount and final payment fee	$	99,917

Schedule of Maturities of Long-Term Debt

The Company’s interest-only period will continue through February 2028, with principal payments beginning in March 2028. Future principal payments and final fee payments will be made as follows (in thousands):

	AS OF
	SEPTEMBER 30, 2025
2028 (10 months)	$	43,478
2029	52,174
Thereafter	13,348
Total future minimum payments	109,000
Less: unamortized debt discount	(9,083)
Total debt	$	99,917