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Subsequent Events | 6 Months Ended
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Jun. 30, 2025
Subsequent Events [Abstract] |
Subsequent Events | 16. Subsequent Events One Big Beautiful Bill Act On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (the “Act”). The Act extends expiring, and in some cases expired, provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”). For taxable years beginning after December 31, 2024, the Act includes measures potentially affecting the Company’s income tax provision including a permanent and immediate deduction for domestic research and development expenditures, 100 percent expensing for certain business property, the expansion of section 162(m) limits on deductions of certain executive compensation, and a floor for deductions for charitable contributions where deductions are now limited to contributions in excess of 1% of a corporation's taxable income. The Act allows taxpayers that capitalized domestic R&D expenditures after December 31, 2021, but before January 1 2025, to elect to deduct any remaining unamortized amounts in the first tax year beginning after December 31, 2024, or ratably over the two-tax year period starting with the first tax year that begins after December 31, 2024. The Company is still evaluating the impact of the Act on its income tax provision. EIB Tranche B Funding Pursuant to the Finance Contract, the Company (through the Borrower) satisfied the conditions to draw €12.5 million from the Tranche B loan facility. In connection therewith, on June 24, 2025, the Company issued to EIB the Tranche B Warrants to purchase up to 4,221,867.59 shares of the Company’s common stock. The Strike Price per share of common stock is $1.32. On July 4, 2025, the Company (through the Borrower) drew upon the Tranche B loan facility to obtain €12.5 million, before payment of certain fees and transaction related expense.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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