XML 40 R29.htm IDEA: XBRL DOCUMENT v3.25.3
Debt (Tables)
 9 Months Ended
Sep. 30, 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 liability.”
Test Dates (fiscal Quarter Ending)Product Revenue Base for 12 months Period
September 30, 202537,800
December 31, 202542,700
March 31, 202646,400
June 30, 2026 and each Fiscal Quarter ending thereafter50,000
As of September 30, 2025, we were in compliance with the Product Revenue Base requirement and no repayments were required.
Repayment Premium
All payments 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 (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 nine months ended September 30, 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 costs558 
PIK interest800 
Accretion of exit fee liability209 
Balance at September 30, 2025$32,764