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Debt
9 Months Ended
Sep. 30, 2025
Debt [Abstract]  
DEBT

NOTE 8 – DEBT

 

During 2021, the Company entered into a Loan and Security Agreement (the “Term Loan”) with Silicon Valley Bank and SVB Innovation Credit Fund VIII, L.P., together (the “Lenders”) in which the Company borrowed $15 million. The Term Loan was secured by the Company’s assets. During December 2024, the Company paid off the Term Loan in full. During February 2025, the Company entered into a letter agreement with the Lenders whereby the Term Loan was terminated.

 

For the three and nine months ended September 30, 2024, the Company recognized interest expense of $145,000 and $752,000, respectively, related to the Term Loan