Debt

9 Months Ended

Sep. 30, 2025

Debt as of September 30, 2025 and December 31, 2024 (in thousands):


	September 30, 2025		December 31, 2024
Loan and Security Agreement (“LSA”):
Principal amount	$	110,000	$	110,000
End of term charge	5,500		5,500
Unamortized debt issuance costs and unamortized end of term charge	(5,684)		(6,560)
Loan and Security Agreement (carried at amortized cost)	$	109,816	$	108,940
The fair value of LSA, classified as Level 2 under ASC Topic 820, Fair Value Measurement	$	109,038	$	109,450

Future principal payments, including the end of term charge, are as follows (in thousands):


Year ending:	Payments
2025	$	—
2026	—
2027	—
2028	—
2029	115,500
Total principal payments, including End of Term Charge	$	115,500

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details