XML 50 R37.htm IDEA: XBRL DOCUMENT v3.25.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments The repayment of the Term Loans as aforementioned, is referred to as the “Revenue Base Redemption Feature.”
Test Dates (fiscal Quarter Ending)Product Revenue Base for 12 months Period
March 31, 202529,600 
June 30, 202533,400 
September 30, 202537,800 
December 31, 202542,700 
March 31, 202646,400 
June 30, 2026 and each Fiscal Quarter ending thereafter50,000 
As of March 31, 2025, we were in compliance with the Product Revenue Base requirement and no repayments were required.
Repayment Premium
All repayments and prepayments of the Term Loans (other than on Maturity Date) shall be accompanied by the payment of the premium, which shall be determined based on the timing of the repayment as follows (the “Repayment Premium”):
Time of RepaymentPremium Rate
Within the first 12 months from the funding date of each respective loan.
3.0% plus the Make-Whole Amount (defined below) (1)
After the first 12 months but before the 24-month anniversary of the funding date of each respective loan.3.0%
After the 24-month anniversary but before the 36-month anniversary of the funding date of each respective loan.2.0%
After the 36-month anniversary but before the 48-month anniversary of the funding date of each respective loan.1.0%
After the 48-month anniversary of the funding date of each respective loan.0.0%
(1) “Make-Whole Amount” is equal to the sum of the remaining scheduled interest payments through the 12-month anniversary
of the closing date of each respective loan.
The following table summarizes activity within the Term Loan for the three months ended March 31, 2025:
OrbiMed Debt
Initial draw$25,000 
Debt issuance costs
Cash issuance costs$(2,593)
Noncash issuance costs:
Revenue base redemption liability(729)
Warrant liability(811)
Balance at April 30, 2024$20,867 
Amortization of debt issuance costs486 
PIK interest604 
Accretion of exit fee liability127 
Balance at December 31, 2024$22,084 
First Delayed Draw Term Loan Commitment
10,000 
Debt issuance costs
Cash issuance costs(521)
Noncash issuance costs:
Warrant liability(366)
Amortization of debt issuance costs177 
PIK interest266 
Accretion of exit fee liability59 
Balance at March 31, 2025$31,699