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Line of Credit
3 Months Ended
Mar. 31, 2021
Line of Credit  
Line of Credit

Note 6—Line of Credit

We have a Loan and Security Agreement with Silicon Valley Bank, which provides for a $50.0 million revolving line of credit facility (the “Line of Credit Agreement”). Under the Line of Credit Agreement, we may draw, on a revolving basis, up to the lesser of $50.0 million or 85.0% of our eligible accounts receivable, less certain reserves. Interest on amounts outstanding is payable monthly at the greater of 5.5% or the prime rate. The line of credit is secured by all our assets excluding intellectual property and development program inventories.

As of March 31, 2021 and December 31, 2020, no amounts were outstanding under the Line of Credit Agreement.