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v3.25.3

Debt Obligations (Details) - USD ($) | 1 Months Ended | 9 Months Ended | 12 Months Ended |  |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
Apr. 30, 2025 | Mar. 31, 2025 | Sep. 30, 2025 | Sep. 30, 2024 | Dec. 31, 2029 | Dec. 31, 2028 | Dec. 31, 2027 | Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022
Line of Credit Facility [Line Items] |  |  |  |  |  |  |  |  |  |  |
Repayment of debt borrowings |  |  | $ 45,000,000 | $ 0 |  |  |  |  |  |  |
Long-term debt, net |  |  | 56,508,000 |  |  |  |  | $ 100,298,000 |  |  |
Restricted cash |  |  | $ 29,000,000 |  |  |  |  | $ 0 |  |  |
Term Loan | Oxford Finance LLC Term Loans | Line of Credit |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |  |  |  |  |
Term loan borrowing capacity |  |  |  |  |  |  |  |  |  |  | $ 150,000,000
Repayment of debt borrowings | $ 45,000,000 | $ 45,000,000 |  |  |  |  |  |  |  |  |
Contingent repayment of debt |  | $ 8,000,000 |  |  |  |  |  |  |  |  |
Incremental interest rate |  |  | 0.10% |  |  |  |  |  |  |  |
Weighted average interest rate |  |  | 11.80% |  |  |  |  |  |  |  |
Exit fee percentage |  |  | 7.00% |  |  |  |  |  |  |  |
Prepayment fee percentage |  |  | 100.00% |  |  |  |  |  |  |  |
Unamortized discount on debt |  |  | $ 5,500,000 |  |  |  |  |  |  |  |
Minimum required cash and investments balance |  |  | $ 29 |  |  |  |  |  |  |  |
Debt instrument, covenant compliance, cash and investments balance, minimum percentage |  |  | 5000.00% |  |  |  |  |  |  |  |
Term Loan | Oxford Finance LLC Term Loans | Line of Credit | Forecast |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |  |  |  |  |
Repayment of debt borrowings |  |  |  |  | $ 11,600,000 | $ 30,200,000 | $ 20,200,000 |  |  |  |
Term Loan | Oxford Finance LLC Term Loans | Line of Credit | Debt Instrument Redemption Period One and Two |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |  |  |  |  |
Term loan funded |  |  |  |  |  |  |  |  |  | $ 50,000,000 |
Term Loan | Oxford Finance LLC Term Loans | Line of Credit | First Tranche |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |  |  |  |  |
Term loan funded |  |  |  |  |  |  |  |  |  | $ 25,000,000 |
Basis spread on variable rate |  |  | 7.90% |  |  |  |  |  |  |  |
Warrants outstanding (in shares) |  |  |  |  |  |  |  |  |  | 420,673 |
Exercise price of warrants (in dollars per share) |  |  |  |  |  |  |  |  |  | $ 2.08 |
Term Loan | Oxford Finance LLC Term Loans | Line of Credit | Second Tranche |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |  |  |  |  |
Term loan funded |  |  |  |  |  |  |  |  |  | $ 25,000,000 |
Basis spread on variable rate |  |  | 7.90% |  |  |  |  |  |  |  |
Warrants outstanding (in shares) |  |  |  |  |  |  |  |  |  | 224,128 |
Exercise price of warrants (in dollars per share) |  |  |  |  |  |  |  |  |  | $ 1.95 |
Term Loan | Oxford Finance LLC Term Loans | Line of Credit | Third tranche |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |  |  |  |  |
Term loan funded |  |  |  |  |  |  |  |  | $ 50,000,000 |  |
Basis spread on variable rate |  |  | 7.00% |  |  |  |  |  |  |  |
Warrants outstanding (in shares) |  |  |  |  |  |  |  |  | 183,824 |  |
Exercise price of warrants (in dollars per share) |  |  |  |  |  |  |  |  | $ 2.38 |  |
Term Loan | Oxford Finance LLC Term Loans | Line of Credit | Fourth Tranche |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |  |  |  |  |
Remaining term loan funding | $ 25,000,000 |  |  |  |  |  |  |  |  |  |
Term Loan | Oxford Finance LLC Term Loans | Line of Credit | Fifth Tranche |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |  |  |  |  |  |
Remaining term loan funding |  |  | $ 25,000,000 |  |  |  |  |  |  |  |

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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
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